Careers
The Market
What exactly is specialty retailing? By definition it is selling goods and services that have a particularly unique characteristic or group attribute for which a significant group of customers is willing to make a special purchasing effort.
Industry reports estimate that some 400,000 specialty retail stores operate in the US, with combined annual sales of about $350 billion. The roster of retailers include large retailers such as The Gap, Barnes & Noble, and Toys “R” Us to locally focused entities such as a family run convenience store.
The market consists of shoes and clothing ($125 billion); electronics and appliances ($85 billion); jewelry ($25 billion); sporting goods ($25 billion); books ($15 billion); toys, music, luggage, and grocery item. The typical specialty retailer operates a single store, with annual revenue under $1 million.
The Landscape
Specialty retail markets are highly fragmented. Large competitors typically compete on pricing since they buy in quantity. Small retailers, on the other hand, compete on the basis of offering different merchandise or providing a level of service.
Careers
Career opportunities are as diverse and creative as the industry. Positions exist in merchandising, supply chain, finance, customer service, and IT.
