Light it up: Positive economic trends boosted demand for industry products

The Small Specialty Retail Stores industry in Canada, which relies on discretionary purchases of products such as tobacco, art supplies, candles and trophies, has experienced revenue growth in line with rising consumer confidence and increasing per capita disposable income over the past five years. However, although positive economic trends have boosted demand for some industry products, external competition from department stores and online retailers has limited industry growth. Many mass merchandisers have been adding specialty items and can offer lower-priced goods due to their economies of scale. Online retailers also carry discounted substitutes for industry products as well as hard-to-find specialty items, often with no additional shipping costs...read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 13-18
2.1%
Forecast Growth 18-23
Profit
Employment
25,504
Businesses
10,171
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The industry will contend with rising competition from department stores and online retailers
  • A constant stream of travellers has helped to drive demand for industry products
  • Over the next five years, online competition will be big threat to the industry
  • Industry Report - Industry Investment Chapter

    The Small Specialty Retail Stores industry in Canada has a low level of capital intensity. IBISWorld estimates that for every dollar spent on wages, industry operators spend $0.09 in capital investment in 2018. Capital expenditures are primarily for items such as fixtures, fittings, cash registers, point-of-sale systems, storage units and other equipment. The majority of capital investment is incurred upon store opening, and equipment is replaced or updated as needed. Additionally, some niche retailers, such as swimming pool supply stores, provide in-store repairs that require the purchase of specialized equipment. Over the past five years, capital requirements have remained low and steady. Capital requirements differ slightly among operators, depending on size and specialty...purchase to read more.

    Additional Insights for the Small Specialty Retail Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Small Specialty Retail Stores Industry are

  • Ability to control stock on hand
  • Access to niche markets
  • Attractive product presentation
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Demand from e-commerce and online auctions in the Small Specialty Retail Stores industry impact industry performance..

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    What's in this report

    What is the Small Specialty Retail Stores Industry?

    This industry retails specialized lines of goods, such as art supplies, cigarettes and cigars, paper goods, collectors’ items, fireworks, religious merchandise, trophies and beer and wine-making supplies. This industry also includes general merchandise auction houses, but it excludes mass merchandisers, department stores, warehouse clubs and supercentres.

    Industry Products
  • Tobacco products and smokers' accessories
  • Art materials and supplies
  • Collectibles and monuments
  • Home goods
  • Groceries and alcohol
  • Pools and related supplies
  • All other goods
  • Industry Activities
  • Retailing general merchandise
  • Retailing art supplies
  • Retailing calendars
  • Retailing candles
  • Retailing collectors' items (e.g. autographs, cards, coins and stamps)
  • Retailing fireworks
  • Retailing religious goods (except books)
  • Retailing specialized occupational supplies
  • Retailing tobacco and tobacco products (e.g. cigarettes and cigars)
  • Retailing trophies
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Demand from e-commerce and online auctions
  • Percentage of smokers
  • Total retail sales
  • Inbound international travel

  • Current Performance
  • External competition
  • Driving trends
  • Rising profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Competition and health concerns
  • Ebbing returns
  • Table: Small Specialty Retail Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Small Specialty Retail Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Janitorial Services in Canada
  • Educational Services In Canada
  • Home Care Providers in Canada
  • Religious Organizations in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Chemical Product Manufacturing in Canada
  • Cigarette & Tobacco Manufacturing in Canada
  • Greeting Cards & Other Publishing in Canada
  • Textile Mills in Canada
  • Toy, Doll & Game Manufacturing in Canada

  • Products & Services
  • Tobacco products and smokers' accessories
  • Collectibles and monuments
  • All other goods
  • Pools and related supplies
  • Home goods
  • Groceries and alcohol
  • Art materials and supplies
  • Chart: Small Specialty Retail Stores Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest income quintile
  • Fourth income quintile
  • Third income quintile
  • Second income quintile
  • Lowest income quintile
  • Chart: Major Market Segmentation for the Small Specialty Retail Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Small Specialty Retail Stores

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Small Specialty Retail Stores Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Small Specialty Retail Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Small Specialty Retail Stores Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Per capita disposable income (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brick-And-Mortar Store
  • A store that has a physical presence and location, as opposed to an online retailer selling only via the internet.
  • E-Tailer
  • A retailer that primarily sells goods and services via the internet. Many of these companies do not have brick-and-mortar locations.
  • Electronic Data Interchange
  • The transmission of electronic documents between businesses from one computer system to another.
  • Mass Merchandiser
  • A retail store that is differentiated by its sheer size and large range of products, including electronics, household goods and other consumer products.
  • Point-Of-Sale
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.
  • What Our Customers Say

    Why buy this report?

    The Small Specialty Retail Stores market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Small Specialty Retail Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Small Specialty Retail Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Small Specialty Retail Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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