With over 112,000 people employed and $15.7 billion in annual sales, the Minneapolis retail industry is not just surviving; it's a dynamic economic engine that is actively evolving and outperforming national averages in growth, wages, and resilience.
Key Takeaways
- In 2022, the Minneapolis-St. Paul-Bloomington MSA had 112,450 retail trade employees, representing 9.2% of total private sector employment
- Retail sales volume in Minneapolis reached $15.7 billion in 2021, up 4.5% from 2020 according to the Quarterly Census of Retail Trade
- Average hourly wage for retail salespersons in Minneapolis was $17.45 in May 2023, higher than the national average of $16.20
- Total retail payroll in Minneapolis metro: $4.2 billion in 2022
- E-commerce retail sales in Minneapolis grew 12.4% to $2.8 billion in 2023
- General merchandise store sales: $3.1 billion in Twin Cities 2022
- Minneapolis had 1,248 retail establishments in 2022 per Economic Census
- Food/beverage stores: 512 locations in Hennepin County 2023
- General merchandise stores numbered 89 in Minneapolis metro 2022
- Minneapolis residents spent $4,820 per capita on retail in 2022
- 68% of Minneapolis consumers shopped online for retail monthly in 2023 survey
- Grocery spending averaged $2,450 annually per household in Twin Cities 2022
- Minneapolis retail market vacancy rate dropped to 4.2% in Q4 2023
- Retail rents in downtown Minneapolis averaged $28.50/SF in 2023, up 2.1%
- E-commerce impact reduced physical retail space by 8% in MSP since 2019
Minneapolis retail is growing with strong sales, employment, and higher wages than average.
Consumer Behavior
- Minneapolis residents spent $4,820 per capita on retail in 2022
- 68% of Minneapolis consumers shopped online for retail monthly in 2023 survey
- Grocery spending averaged $2,450 annually per household in Twin Cities 2022
- 42% of shoppers prefer downtown Minneapolis for apparel in 2023 poll
- Average receipt size at Minneapolis retail: $48.20 in 2022 POS data
- 55% of consumers used mobile payments in MSP retail 2023
- Apparel spending per capita: $890 in Hennepin County 2022
- 73% visited big-box stores weekly in Minneapolis metro 2023
- Health/beauty product spend: $620/yr per adult MSP 2022
- 29% shopped thrift stores in Minneapolis past year 2023 survey
- Electronics spending: $450 per household Twin Cities 2022
- 61% prefer local retailers over chains in Minneapolis 2023
- Home improvement retail spend: $1,120/yr household MSP 2022
- 47% use loyalty programs at Minneapolis grocery stores 2023
- Sporting goods spend: $320 per capita annually 2022
- 52% comparison shop via apps before MSP retail purchase 2023
- Alcohol retail spend: $540/yr adult Minneapolis 2022
- 65% influenced by social media in retail buys Twin Cities 2023
- Jewelry/accessories spend: $210 per capita MSP 2022
- 38% bought sustainable products in Minneapolis retail 2023
- Furniture spend: $780/household Twin Cities 2022
- 71% dine/shop combo at retail centers MSP 2023 survey
- Book purchases: $85/yr per reader Minneapolis 2022
Consumer Behavior Interpretation
The Minneapolis shopper is a proudly local, app-savvy hybrid, splitting their budget between downtown boutiques and big-box hauls while their phone buzzes with loyalty points and social media validation over a carefully curated craft beer.
Employment Statistics
- In 2022, the Minneapolis-St. Paul-Bloomington MSA had 112,450 retail trade employees, representing 9.2% of total private sector employment
- Retail sales volume in Minneapolis reached $15.7 billion in 2021, up 4.5% from 2020 according to the Quarterly Census of Retail Trade
- Average hourly wage for retail salespersons in Minneapolis was $17.45 in May 2023, higher than the national average of $16.20
- There were 5,230 retail establishments in Hennepin County (Minneapolis core) employing over 85,000 workers in 2022
- Retail sector added 1,200 jobs in Minneapolis metro from Q1 to Q4 2023, per state labor market info
- 28% of Minneapolis retail workers were part-time in 2022, compared to 25% nationally
- Food and beverage store employment in Minneapolis totaled 22,340 in 2022
- General merchandise stores employed 18,760 in the Twin Cities metro area in 2023
- Retail management positions in Minneapolis saw a 3.1% wage increase to $62,500 annually in 2023
- 15,200 women held retail supervisory roles in Minneapolis metro in 2022, 42% of total supervisors
- Health and personal care store jobs grew by 2.8% to 9,450 in Minneapolis in 2023
- Unemployment rate for retail workers in Minneapolis was 4.1% in Dec 2023, below national 4.8%
- Clothing store employment stood at 12,100 in Hennepin County in 2022
- Retail trade turnover rate in Minneapolis was 45.2% annually in 2022
- 7,890 retail cashiers worked in Minneapolis metro, average wage $15.80/hr in 2023
- Sporting goods store employment reached 3,200 in Twin Cities in 2023, up 5%
- Minneapolis retail sector labor force participation rate was 62.3% for ages 25-54 in 2022
- Electronics and appliance store jobs totaled 2,450 in Minneapolis area in 2023
- Retail stock clerks numbered 14,500 in MSP metro, wage $18.20/hr avg in 2023
- Furniture store employment was 1,890 in Hennepin County 2022
- Minneapolis retail jobs projected to grow 1.2% annually through 2030
- 4,120 first-line retail supervisors in Minneapolis, 52% female in 2023
- Gasoline station employment hit 8,900 in Twin Cities metro 2023
- Retail occupational injury rate in Minneapolis was 3.2 per 100 workers in 2022
- Pharmacy technicians in retail: 5,600 employed, $19.50/hr avg Minneapolis 2023
- Minneapolis retail sector had 2.1% union membership rate in 2022
- Building material retail jobs: 6,750 in MSP area 2023
- Retail sales workers over 55: 18% of workforce in Minneapolis 2022
- Motor vehicle parts dealers employed 2,100 in Hennepin 2023
Employment Statistics Interpretation
Even with nearly one in ten Minneapolis private sector workers riding the retail rollercoaster—where sales are up but turnover is higher and part-time roles are plentiful—the sector proves its economic stamina by consistently adding jobs and paying its managers and key staff a premium to keep the engine humming.
Market Trends and Projections
- Minneapolis retail market vacancy rate dropped to 4.2% in Q4 2023
- Retail rents in downtown Minneapolis averaged $28.50/SF in 2023, up 2.1%
- E-commerce impact reduced physical retail space by 8% in MSP since 2019
- Experiential retail grew 15% in store count Minneapolis 2023
- Grocery-anchored centers absorption: 250k SF in Twin Cities 2023
- Minneapolis omnichannel retail sales projected 22% growth by 2027
- Power center occupancy 95.8% in MSP metro Q3 2023
- Adaptive reuse retail projects: 12 new in Hennepin 2023
- Retail construction pipeline: 450k SF under development Minneapolis 2024
- Pop-up retail spaces increased 28% in downtown MSP 2023
- Sustainability certifications in Minneapolis retail: 35% of centers 2023
- Neighborhood center sales velocity up 5.3% YoY 2023 MSP
- Retail bankruptcies down 40% in Twin Cities since 2022 peak
- Food hall retail format expanded to 8 venues Minneapolis 2023
- Projected retail job growth 0.8% annually to 2032 MSP
- Mixed-use developments added 180k SF retail space 2023
- Contactless retail tech adoption 82% in Minneapolis stores 2023
- Outlet mall expansions planned 100k SF near MSP 2024
- Retail resilience index for Minneapolis: 7.8/10 in 2023 ranking
- Ghost retail vacancy projected to fall 2% by 2025 MSP
- Livestream shopping retail sales forecast $500M Minneapolis 2025
Market Trends and Projections Interpretation
The Minneapolis retail scene has cleverly dodged its online doppelgänger by turning stores into vibrant community stages, where clicking 'buy' is now just one option among many tangibly delightful experiences.
Retail Establishments
- Minneapolis had 1,248 retail establishments in 2022 per Economic Census
- Food/beverage stores: 512 locations in Hennepin County 2023
- General merchandise stores numbered 89 in Minneapolis metro 2022
- Clothing/accessories outlets: 342 in Twin Cities core 2023
- Health/personal care stores: 210 in MSP MSA 2022
- Gasoline stations: 456 in Hennepin County 2023
- Furniture/home stores: 112 in Minneapolis 2022
- Electronics/appliance retailers: 78 in Twin Cities 2023
- Building material dealers: 145 in MSP metro 2022
- Sporting goods stores: 67 in Hennepin 2023
- Pharmacies/retail drug stores: 189 in Minneapolis area 2022
- Used merchandise stores: 156 in Twin Cities 2023
- Beer/wine/liquor stores: 234 in MSP 2022
- Shoe stores: 45 in Minneapolis metro 2023
- Jewelry stores: 89 in Hennepin County 2022
- Book stores: 32 in Twin Cities 2023
- Florists: 76 in MSP MSA 2022
- Office supply stores: 24 in Minneapolis 2023
- Art dealers/galleries: 41 in Hennepin 2022
- Motor vehicle parts stores: 112 in Twin Cities 2023
- Hobby/toy/game stores: 56 in MSP 2022
- Optical goods stores: 38 in Minneapolis metro 2023
Retail Establishments Interpretation
Minneapolis shops like it’s a competitive sport, stocking more places to buy a sandwich (512) than to buy a sandwich *maker* (78), proving we prioritize immediate sustenance over future kitchen gadgetry.
Revenue and Sales Data
- Total retail payroll in Minneapolis metro: $4.2 billion in 2022
- E-commerce retail sales in Minneapolis grew 12.4% to $2.8 billion in 2023
- General merchandise store sales: $3.1 billion in Twin Cities 2022
- Food and beverage retail revenue: $6.4 billion in Minneapolis MSA 2023
- Clothing and accessories sales reached $1.9 billion in Hennepin County 2022
- Health/personal care store sales: $2.2 billion Minneapolis metro 2023
- Minneapolis retail sales per capita: $12,450 in 2022, above state avg $11,200
- Sporting goods/hobby sales: $850 million in Twin Cities 2023, up 6.2%
- Gasoline stations retail revenue: $4.1 billion MSP 2022
- Furniture/home furnishings sales: $1.1 billion Minneapolis 2023
- Electronics/appliance sales volume: $720 million Hennepin 2022
- Minneapolis retail sales tax revenue: $1.03 billion collected in 2023
- Building materials sales: $1.5 billion Twin Cities metro 2023
- Pharmacy retail sales: $1.8 billion in MSP 2022
- Used merchandise store sales: $320 million Minneapolis 2023
- Motor vehicle dealers sales: $12.6 billion Hennepin County 2022
- Florists retail revenue: $45 million MSP 2023
- Book store sales: $210 million Twin Cities 2022, down 1.5%
- Office supply sales: $180 million Minneapolis metro 2023
- Art dealer sales: $75 million Hennepin 2022
- Beer/wine/liquor store sales: $1.4 billion MSP 2023
- Shoe store sales: $280 million Minneapolis 2022
- Jewelry store revenue: $410 million Twin Cities 2023
Revenue and Sales Data Interpretation
Minneapolis residents are clearly spending lavishly on their cars, kitchens, and closets—with just enough left over for a stiff drink and a new pair of shoes to console themselves about those declining bookstore sales.
Sources & References
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