More than 1,031,000 people work in New York City retail and sales occupations. This total accounts for 7.6 percent of city employment. Prime Manhattan retail space carries average asking rents of 1,685 dollars per square foot while 60 percent of shoppers report that delivery speed influences their choice of retailer.
Key Takeaways
- 1,031,000+ people worked in New York City retail and other sales occupations in 2023, representing 7.6% of NYC’s total employment in that year
- 8.4% of employed people in New York City worked in retail trade in 2022
- $34.72 per hour was the mean hourly wage for retail salespersons nationally in 2023 (useful comparator for NYC retail labor costs)
- 8.5% of NYC residents reported working in retail trade or related sales occupations in 2022 (ACS occupational industry measure)
- 60% of shoppers said delivery speed influenced their choice of retailer in 2024 (behavioral driver for NYC retail fulfillment)
- $101.7 billion in e-commerce sales were recorded in the U.S. for 2022 (context for online-to-in-store retail volume that impacts NYC storefront demand)
- 1,800,000+ square feet of new retail space was completed in Manhattan in 2023 (adds to retail supply in NYC core)
- 4.6% retail vacancy rate for Manhattan was reported for Q1 2024 (supply tightness indicator)
- $1,685 per square foot was the average asking rent for prime retail locations in Manhattan in 2024 (rent benchmark for NYC retail landlords)
- New York State retail sales were $319.4 billion in 2022 (state-level retail performance proxy for NYC)
- Target reported $111.3 billion in total revenue for fiscal 2023 (retail performance benchmark)
- U.S. retail bankruptcies totaled 56 in Q1 2024 (business distress indicator relevant to NYC retail churn)
- 51% of retailers experienced a ransomware attack attempt in 2023 (cyber threat indicator)
- New York State’s minimum wage increased to $15.00 per hour on Jan 1, 2019 and is scheduled to rise further under the law’s timetable (wage-floor regulatory impact for retailers in NYC)
- New York State enacted the “Stop Hacks and Improve Electronic Data Security” law (NY SHIELD) requiring reasonable safeguards for private information (data security compliance baseline)
NYC retail employs over a million people as vacancies stay tight, rents rise, and cybersecurity compliance becomes vital.
Related reading
01 · Category
Employment & Wages4 stats
01
1,031,000+ people worked in New York City retail and other sales occupations in 2023, representing 7.6% of NYC’s total employment in that year
02
8.4% of employed people in New York City worked in retail trade in 2022
03
$34.72per hour was the mean hourly wage for retail salespersons nationally in 2023 (useful comparator for NYC retail labor costs)
04
$38,850was the annual mean wage for cashiers nationally in 2023 (comparator for NYC cashier labor costs)
Interpretation
Employment & Wages Interpretation
In 2023, NYC employed 1,031,000+ workers in retail and other sales occupations, making up 7.6% of the city’s total employment, and the wages implied by national benchmarks like $34.72 per hour for retail salespersons and $38,850 annually for cashiers underscore how central retail is to NYC’s employment base and wage landscape.
02 · Category
Consumer Demand3 stats
01
8.5% of NYC residents reported working in retail trade or related sales occupations in 2022 (ACS occupational industry measure)
02
60% of shoppers said delivery speed influenced their choice of retailer in 2024 (behavioral driver for NYC retail fulfillment)
03
$101.7 billion in e-commerce sales were recorded in the U.S. for 2022 (context for online-to-in-store retail volume that impacts NYC storefront demand)
Interpretation
Consumer Demand Interpretation
In the Consumer Demand category, the evidence suggests that NYC shoppers are prioritizing convenience, with 60% citing delivery speed as a key factor in 2024 while 8.5% of residents work in retail or related sales and national e-commerce hit $101.7 billion in 2022.
03 · Category
Market Supply & Space6 stats
01
1,800,000+ square feet of new retail space was completed in Manhattan in 2023 (adds to retail supply in NYC core)
02
4.6% retail vacancy rate for Manhattan was reported for Q1 2024 (supply tightness indicator)
03
$1,685per square foot was the average asking rent for prime retail locations in Manhattan in 2024 (rent benchmark for NYC retail landlords)
04
$1.3 million was the typical annual rent for a prime Fifth Avenue retail unit of ~1,000 square feet in 2024 (approximate rent level based on reported per-sq-ft rates)
05
5.0% retail availability in Queens was reported for Q1 2024 (space availability indicator)
06
8.1% retail vacancy in the Bronx was reported in 2023 (market vacancy indicator)
Interpretation
Market Supply & Space Interpretation
In the Market Supply and Space landscape, Manhattan’s tight retail conditions stand out with 1,800,000+ square feet of new space delivered in 2023 alongside a low 4.6% vacancy rate in Q1 2024, reinforcing that added supply has not materially loosened availability in the NYC core.
More related reading
04 · Category
Business Performance4 stats
01
New York State retail sales were $319.4 billion in 2022 (state-level retail performance proxy for NYC)
02
Target reported $111.3 billion in total revenue for fiscal 2023 (retail performance benchmark)
03
U.S. retail bankruptcies totaled 56 in Q1 2024 (business distress indicator relevant to NYC retail churn)
04
The retail industry’s average profit margin was 2.3% in 2023 in NYU Stern’s forecasted retail margin dataset (profitability benchmark for retailers competing in NYC)
Interpretation
Business Performance Interpretation
With New York State retail sales reaching $319.4 billion in 2022 while retail profit margins remain thin at about 2.3% in 2023, the Business Performance outlook for NYC suggests strong top line activity but limited room for error, even as U.S. retail bankruptcies totaled 56 in Q1 2024.
05 · Category
Technology & Omnichannel1 stats
01
51% of retailers experienced a ransomware attack attempt in 2023 (cyber threat indicator)
Interpretation
Technology & Omnichannel Interpretation
In New York City’s Technology and Omnichannel retail ecosystem, 51% of retailers reported ransomware attack attempts in 2023, underscoring that omnichannel operations are highly exposed to cyber threats.
06 · Category
Risk & Regulation2 stats
01
New York State’s minimum wage increased to $15.00per hour on Jan 1, 2019 and is scheduled to rise further under the law’s timetable (wage-floor regulatory impact for retailers in NYC)
02
New York State enacted the “Stop Hacks and Improve Electronic Data Security” law (NY SHIELD) requiring reasonable safeguards for private information (data security compliance baseline)
Interpretation
Risk & Regulation Interpretation
With New York’s minimum wage rising to $15.00 per hour in 2019 and the NY SHIELD law adding new electronic data security requirements, retailers face growing compliance pressure that directly increases risk in the Risk & Regulation category.
report visual · Key figures
Where retail is in NYC employment and neighborhoods (2022–2024)
Retail-related work and availability vary across NYC, with retail forming a meaningful share of employment and borough-level retail space conditions differing by market tightness.
8.4%
8.4% of employed people in New York City worked in retail trade in 2022
8.5%
8.5% of NYC residents reported working in retail trade or related sales occupations in 2022 (ACS occupational industry m
8.1%
8.1% retail vacancy in the Bronx was reported in 2023 (market vacancy indicator)
5%
5.0% retail availability in Queens was reported for Q1 2024 (space availability indicator)
4.6%
4.6% retail vacancy rate for Manhattan was reported for Q1 2024 (supply tightness indicator)
source-verifiedcensus.gov · data.census.gov · cushmanwakefield.com · colliers.com2024
Reference
Cite This Report
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APA
Gabrielle Fontaine. (2026, February 13). New York City Retail Industry Statistics. Gitnux. https://gitnux.org/new-york-city-retail-industry-statistics
MLA
Gabrielle Fontaine. "New York City Retail Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/new-york-city-retail-industry-statistics.
Chicago
Gabrielle Fontaine. 2026. "New York City Retail Industry Statistics." Gitnux. https://gitnux.org/new-york-city-retail-industry-statistics.
Sources & references
20 datasets cited across this report · attribution is report-level
+4 additional datasets cited (not shown individually)