It can also be defined as the timely delivery of goods and services demanded by consumers at prices that are competitive and affordable. There are more than 1.4 million retail establishments in the United States. The retail industry currently employs over 20 million workers, or 1 in 5 American workers. According to the United States Department of Labor, retail employment is expected to increase to 24 million workers by the year 2005. Retail establishments provide more jobs to U.S. workers than manufacturers.
Lets take a look the most common types of retail establishments in the United States.
The selection in these type of retail organizations include men's, women's, and children's clothing. Jewelry and other types of accessories are also sold. Saks Fifth Avenue, Macys, and Federated Department Stores are examples of leading department store retail organizations. Bed, Bath, and Beyond and PetsMart are example of specialty stores. This is a retail organization that sells a great variety of merchandise.