Retail and food service sales (including growing, processing, manufacturing, preparing, shipping and selling), make up more than one-half of the GDP of the U.S. and hit a record all-time high in July 2018, as shown in the following graph. The robust U.S. economy is being driven by strong retail and food service sales – with no indication of easing at the current time.
Now imagine a business where more than one-half of all American shoppers spent money every month. As of this past April , there were two in the U.S. according to a study by 24/7 Wall St: McDonalds and Walmart in which 52.8 percent 51.4 percent of all shoppers, respectively, visited that month. Retailers that garnered one-out-of-every three shoppers included Subway, Walgreens and Starbucks. One-out-of-every four shoppers visited CVS and Target, while one-out-of-every five hit Taco Bell, Burger King, Wendy’s and Dollar Tree.
A study by 24/7 Wall St focused on where America shopped in April 2018. Utilizing data from Placed Insights and the SEC, they listed the top-25 destinations for shoppers aged 13 and up. Also included in their study were store numbers and retail sales in 2017 taken from SEC filings. Eight of the top-25 were restaurants and three included grocery sales, with many of the others selling food or beverages of some sorts.
No doubt many of these firms are being impacted by Ecommerce. All have their own customer-facing Web Sites and APPs marketing to consumers. Most retailers have adopted a hybrid approach where consumers may buy at bricks and mortar locations or online – their choice. The following graph shows quarterly ecommerce retail sales (not seasonally adjusted) since 2000. Ecommerce sales now make up almost $1 out of every $10 of retail sales volume.
To find out more about Placed Insights click https://www.placed.com/placed-insights
To read the 24/7 Wall St article in USA Today click https://www.usatoday.com/story/money/retail/2018/05/24/most-popular-stores-in-america/35080539/
Overall, strong retail and food service sales bode well for a continuing growing U.S. economy.