Retail as a Business

Describe how retail fits into the business world.

Simply put, retail is the nation's largest industry. It reflects the economic condition for the United States and the needs of its customers. It is an industry with over $2.5 trillion in sales and over 21 million employees.
--Jerry Cross, Assistant Professor
Fashion Merchandising and Management
Fashion Institute of Technology

Retail is really a key industry because it is the entity that interfaces with the customer. It fulfills the important link of getting products from the manufacturer or wholesaler to the consumer. One could argue that in the absence of retail, there is no exchange of services. For these reasons, it is very important to the economy.
--Dr. David Szymanski
Director, Center of Retailing Studies
Department of Marketing
Texas A&M University

Retailing is a major sector of the economy. Eighteen percent of the U.S. workforce is employed in retailing. In fact, the projections indicate that retailing and services jobs will be growing going forward, while manufacturing jobs will be decreasing. Retailing offers great entrepreneurial opportunities, too.
--Bart Weitz, Ph.D.
Director, Center for Retailing Education and Research
University of Florida