OVERVIEW
An examination of the Retail industry's compensation data. This data is backed by ERI's extensive research using industry salary survey data.
Retail Industry's average salary is 2.00% higher than the US average
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Description
Retail
This division includes establishments engaged in selling merchandise for personal or household consumption and rendering services incidental to the sale of the goods. In general, retail establishments are classified by kind of business according to the principal lines of commodities sold (groceries, hardware, etc. ), or the usual trade designation (drug store, cigar store, etc.). Some of the important characteristics of retail trade establishments are: the establishment is usually a place of business and is engaged in activities to attract the general public to buy; the establishment buys or receives merchandise as well as sells; the establishment may process its products, but such processing is incidental or subordinate to selling; the establishment is considered as retail in the trade; and the establishment sells to customers for personal or household use. Not all of these characteristics need be present and some are modified by trade practice. For the most part, establishments engaged in retail trade sell merchandise to the general public for personal or household consumption. Exceptions to this general rule are lumber yards; paint, glass, and wallpaper stores; typewriter stores; stationery stores; and gasoline service stations which sell to both the general public for personal or household consumption and to businesses. These types of stores are classified in Retail Trade even if a higher proportion of their sales is made to other than individuals for personal or household consumption. However, establishments that sell these products only to institutional or industrial users and to other wholesalers and establishments that sell similar merchandise for use exclusively by business establishments are classified in Wholesale Trade. Establishments primarily engaged in selling such merchandise as plumbing equipment; electrical supplies; used automobile parts; and office furniture are classified in Wholesale Trade, even if a higher proportion of their sales is made to individuals for personal or household consumption. Buying of goods for resale to the consumer is a characteristic of retail trade establishments that particularly distinguishes them from the agricultural and extractive industries. For example, farmers who sell only their own produce at or from the point of production are not classified as retailers. Processing incidental or subordinate to selling often is conducted at retail stores. For example, restaurants prepare meals, and meat markets cut meat. Separate establishments selling merchandise for personal or household consumption which has been manufactured by other establishments of the same company are classified in Retail Trade. Chain store warehouses are considered auxiliary to the retail establishment served and are classified on the basis of the activity carried on by such retail stores.
RELATED
Explore the Sub-Industries Under Retail
Sub-Industries
Building Materials Retail Stores
Learn MoreThis major group includes retail establishments primarily engaged in selling lumber and other building materials; paint, glass, and wallpaper; hardware; nursery stock; lawn and garden supplies; and mobile homes. It includes lumber and other building materials dealers and paint, glass, and wallpaper stores selling to the general public, even if sales to construction contractors account for a larger proportion of total sales. These establishments are known as retail in the trade. Establishments primarily selling these products for use exclusively by businesses or to other wholesalers are classified in Wholesale Trade. Establishments primarily selling plumbing, heating, and air-conditioning equipment and electrical supplies are classified in Wholesale Trade.
Food and General Merchandise
Learn MoreThis major group includes retail stores which sell a number of lines of merchandise, such as dry goods, apparel and accessories, furniture and home furnishings, small wares, hardware, and food. The stores included in this group are known by such names as department stores, variety stores, general merchandise stores, and general stores.
Food Stores
Learn MoreThis major group includes retail stores primarily engaged in selling food for home preparation and consumption.
Auto and Car Dealerships
Learn MoreThis major group includes retail dealers selling new and used automobiles, boats, recreational vehicles, utility trailers, and motorcycles including mopeds; those selling new automobile parts and accessories; and gasoline service stations. Automobile repair shops maintained by establishments engaged in the sale of new automobiles are also included.
Apparel Retail Stores
Learn MoreThis major group includes retail stores primarily engaged in selling new clothing, shoes, hats, underwear, and related articles for personal wear and adornment. Furriers and custom tailors carrying stocks of materials are included.
Home Furnishings, Furniture and Appliance Stores
Learn MoreThis major group includes retail stores selling goods used for furnishing the home, such as furniture, floor coverings, draperies, glass and chinaware, domestic stoves, refrigerators, and other household electrical and gas appliances. Establishments selling electrical and gas appliances are included in this group only if the major part of their sales consists of articles for home use. These stores may also repair household appliances, radios, televisions, and stereo equipment, but do not primarily do so. Stores furnishing interior decorator service are classified according to the merchandise handled.
Food Service
Learn MoreThis major group includes retail establishments selling prepared foods and drinks for consumption on the premises; and also lunch counters and refreshment stands selling prepared foods and drinks for immediate consumption. Restaurants, lunch counters, and drinking places operated as a subordinate service facility by other establishments are not included in this industry, unless they are operated as leased departments by outside operators.
Specialty Retailers
Learn MoreThis major group includes retail establishments, not elsewhere classified. These establishments fall into the following categories: drug stores, liquor stores, used merchandise stores, miscellaneous shopping goods stores, non-store retailers, fuel dealers, and miscellaneous retail stores, not elsewhere classified.
Jobs
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