Amid soaring sales and startling turnover, New York City's retail industry powers both dreams and daily life for over 178,000 workers and countless consumers.
Key Takeaways
- In 2022, New York City's retail sector employed 178,450 workers, accounting for 4.2% of total private employment.
- The average annual wage for retail salespersons in the New York-Newark-Jersey City metro area was $38,760 in 2022.
- Retail trade occupations in NYC saw a 1.8% year-over-year employment growth from Q4 2021 to Q4 2022.
- New York retail sales totaled $152.4 billion in 2022.
- E-commerce retail sales in NYC grew 15.2% to $28.7 billion in 2022.
- Manhattan department store revenues hit $12.3 billion in 2022.
- Number of retail establishments in NYC was 22,450 in 2022.
- Manhattan hosts 9,820 retail stores, 44% of NYC total in 2023.
- Grocery stores in NYC numbered 4,210 in 2022.
- Average annual consumer spending on apparel in NYC was $1,248 per capita in 2022.
- NYC residents spent $4,320 yearly on groceries in 2022.
- Electronics spending per household in Manhattan: $2,150 in 2022.
- NYC retail contributed $45.2 billion to GDP in 2022.
- Retail multiplier effect generated 120,000 indirect jobs in NYC 2022.
- Projected retail sales growth: 4.5% CAGR through 2027 in NYC.
New York's retail industry is large and growing but faces wage and turnover challenges.
Consumer Spending Patterns
- Average annual consumer spending on apparel in NYC was $1,248 per capita in 2022.
- NYC residents spent $4,320 yearly on groceries in 2022.
- Electronics spending per household in Manhattan: $2,150 in 2022.
- 68% of NYC consumers shopped online for retail in 2022 weekly.
- Average holiday spending per NYC shopper: $1,050 in 2022.
- Luxury goods spending in NYC: $3,200 per affluent household 2022.
- Grocery delivery orders averaged 2.8 per NYC household monthly 2022.
- 42% of Brooklyn residents prefer local retail spending in 2023.
- Per capita health/beauty spending: $890 in Queens 2022.
- NYC millennial spending on experiences over goods: 55% preference 2022.
- Average furniture purchase spend: $1,450 per NYC household 2022.
- Pet-related spending per owner: $1,200 annually in NYC 2022.
- Wine/spirits monthly spend: $85 per adult consumer NYC 2022.
- Toy spending during holidays: $420 per family in NYC 2022.
- Office supply annual spend per business: $2,300 in Manhattan 2022.
- Sustainable product spending share: 28% of total retail in NYC 2023.
- Discount shopping frequency: 3.2 times monthly per NYC household 2022.
- Jewelry average transaction value: $450 in NYC 2022.
- Sporting goods spend: $650 per enthusiast yearly NYC 2022.
- Auto parts DIY spend: $320 per vehicle owner NYC 2022.
- Book purchases: 18 volumes per NYC reader annually 2022.
- Florist spend per event: $180 average in NYC 2022.
- Convenience store impulse buys: $12.50 average per visit NYC 2022.
Consumer Spending Patterns Interpretation
The numbers paint a portrait of a city constantly on the move, where New Yorkers meticulously budget for groceries and rent only to enthusiastically splurge on everything from weekend wine to designer threads, proving their wallets are as dynamic and layered as the skyline itself.
Economic Impact and Projections
- NYC retail contributed $45.2 billion to GDP in 2022.
- Retail multiplier effect generated 120,000 indirect jobs in NYC 2022.
- Projected retail sales growth: 4.5% CAGR through 2027 in NYC.
- Retail tax contributions: 12% of NYC general fund in 2023.
- E-commerce shift to impact 15% of brick-and-mortar sales by 2025 NYC.
- Retail real estate value: $250 billion in NYC 2022.
- Post-COVID recovery: 92% of pre-pandemic sales levels in 2023 NYC.
- Sustainability investments in retail: $1.2B projected 2023-2025 NYC.
- Retail innovation funding: $450M VC in NYC startups 2022.
- Projected job growth: 2.1% annually in NYC retail to 2030.
- Supply chain disruptions cost NYC retail $2.8B in 2022.
- Tourism-driven retail spend: $16B annually projected 2024 NYC.
- AI adoption to boost retail productivity 25% by 2027 NYC.
- Retail bankruptcies: 45 major filings in NYC 2022, down 30% YoY.
- Green retail initiatives to create 5,000 jobs by 2025 NYC.
- Omnichannel sales projected 60% of total by 2026 NYC.
- Inflation impact: Retail margins squeezed 3.2% in 2023 NYC.
- Population growth to drive 7% retail expansion 2023-2030 NYC.
- Contactless payment adoption: 85% by end-2023 NYC retail.
- Labor shortage projected to cost $1.5B in lost sales 2024 NYC.
- Retail rent growth: 5.8% YoY in prime NYC corridors 2023.
Economic Impact and Projections Interpretation
New York City's retail sector is a remarkably resilient, $250 billion engine that fuels one-eighth of the city's budget and a small army of jobs, even as it nimbly pirouettes between the punishing blows of inflation, supply chains, and labor shortages, all while being digitally transformed, sustainably retrofitted, and perpetually reshaped by the sheer force of its own chaotic, consumer-driven energy.
Employment and Labor
- In 2022, New York City's retail sector employed 178,450 workers, accounting for 4.2% of total private employment.
- The average annual wage for retail salespersons in the New York-Newark-Jersey City metro area was $38,760 in 2022.
- Retail trade occupations in NYC saw a 1.8% year-over-year employment growth from Q4 2021 to Q4 2022.
- There were 12,340 full-time retail managers in Manhattan alone as of 2023.
- Women comprised 52.3% of the retail workforce in New York State in 2021.
- Retail sector turnover rate in NYC was 28.4% in 2022, higher than the national average of 25.1%.
- 15,670 retail jobs were added in Brooklyn from 2019 to 2022.
- The median hourly wage for retail cashiers in Queens was $15.42 in 2022.
- NYC retail employment density is highest in Midtown Manhattan at 1,250 jobs per square mile.
- Part-time retail workers in NYC numbered 89,200 in 2022, 50% of total retail staff.
- Retail supervisors in the Bronx earned an average of $52,100 annually in 2022.
- Unionized retail workers in NYC represent 8.7% of the sector's workforce as of 2023.
- Youth employment (16-24) in NYC retail was 22,450 in summer 2022.
- Retail stock clerks in Staten Island averaged $34,500 yearly wage in 2022.
- NYC retail sector experienced 3,210 layoffs in 2022 due to store closures.
- Immigrant workers make up 42% of NYC's retail labor force in 2023.
- Average workweek for NYC retail employees was 28.2 hours in 2022.
- Retail training programs enrolled 4,500 NYC workers in 2022.
- Disability employment rate in NYC retail is 3.2% below national average.
- Overtime pay in NYC retail averaged $2,450 per worker annually in 2022.
- Seasonal retail hiring in NYC peaked at 25,000 jobs during 2022 holidays.
- Retail veteran employment in NYC stands at 1,850 jobs in 2023.
- Gender pay gap in NYC retail is 18.4% favoring males in 2022.
- NYC retail apprenticeships numbered 1,120 in fiscal year 2022.
- Remote work penetration in NYC retail admin roles is 12% in 2023.
- Retail health benefits coverage in NYC reached 65% of employees in 2022.
- NYC retail sector's labor productivity grew 1.9% YoY in 2022.
- Minority-owned retail firms employ 32,500 in NYC as of 2023.
- Gig economy retail delivery jobs in NYC: 18,400 in 2022.
- Total NYC retail payroll expenses reached $8.2 billion in 2022.
Employment and Labor Interpretation
New York's retail engine hums on the labor of a vast, often part-time and underpaid majority—particularly women—who navigate high turnover for modest wages, even as the sector grows and productivity rises on a staggering $8.2 billion payroll.
Number of Establishments
- Number of retail establishments in NYC was 22,450 in 2022.
- Manhattan hosts 9,820 retail stores, 44% of NYC total in 2023.
- Grocery stores in NYC numbered 4,210 in 2022.
- Brooklyn added 320 new retail outlets in 2022.
- Convenience stores across NYC: 2,850 locations in 2022.
- Queens pharmacy chains: 1,420 outlets operating in 2022.
- Luxury boutiques in SoHo: 450 stores in 2023.
- Bronx discount retailers: 680 establishments in 2022.
- Staten Island home goods stores: 210 in 2022.
- NYC apparel shops: 5,670 independent stores in 2022.
- Electronics retailers in Midtown: 380 outlets in 2022.
- Jewelry stores NYC-wide: 1,250 in 2022.
- Bookstores in NYC: 420 independent locations in 2023.
- Furniture stores: 890 across NYC boroughs in 2022.
- Sporting goods outlets: 340 in NYC 2022.
- Pet stores: 280 NYC locations in 2022.
- Toy stores: 150 specialty shops in Manhattan 2022.
- Florists: 620 NYC stores in 2022.
- Wine shops: 910 licensed in NYC 2022.
- Office supply stores: 120 chains in NYC 2022.
- Health and beauty shops: 2,340 in 2022 NYC.
- Auto parts stores: 450 NYC-wide in 2022.
- Department stores: 45 major ones in NYC 2023.
- Pop-up retail shops in NYC: 1,200 temporary in 2022.
- Average NYC retail store size: 2,450 sq ft in 2022.
- Online-only retail HQs in NYC: 320 firms in 2022.
Number of Establishments Interpretation
Even as online-only brands set up shop in the city, New York's retail landscape remains stubbornly, gloriously physical—a chaotic ecosystem where a new Brooklyn boutique opens nearly every day, SoHo caters to the luxurious impulse, Queens keeps us medicated, the Bronx keeps us frugal, and Manhattan alone hoards nearly half of the city's 22,450 establishments, proving that for every digital cart filled, there are still thousands of real ones to push down an actual sidewalk.
Sales and Revenue
- New York retail sales totaled $152.4 billion in 2022.
- E-commerce retail sales in NYC grew 15.2% to $28.7 billion in 2022.
- Manhattan department store revenues hit $12.3 billion in 2022.
- Grocery retail sales in NYC reached $45.6 billion annually in 2022.
- Apparel retail revenue in Brooklyn was $3.8 billion in 2022.
- NYC luxury retail sales surged 22% to $18.9 billion in 2022.
- Electronics retail sales in Queens totaled $4.2 billion in 2022.
- Restaurant retail (food service) revenue in NYC: $32.1 billion in 2022.
- Home improvement retail sales in Staten Island: $1.1 billion in 2022.
- NYC convenience store sales averaged $650 million monthly in 2022.
- Pharmacy retail revenues in Bronx: $2.9 billion annually 2022.
- Sporting goods retail sales in NYC grew to $2.4 billion in 2022.
- Jewelry store revenues in Manhattan: $4.7 billion in 2022.
- Auto parts retail sales NYC-wide: $1.8 billion in 2022.
- Bookstore sales in NYC declined 3% to $820 million in 2022.
- Furniture retail revenue in NYC: $5.6 billion in 2022.
- Toy store sales peaked at $1.2 billion during 2022 holidays in NYC.
- NYC retail sales tax revenue generated $9.8 billion for city in 2022.
- Health and beauty retail sales: $6.3 billion in NYC 2022.
- Discount store revenues in NYC: $7.4 billion in 2022.
- Wine and spirits retail sales: $3.9 billion in 2022 NYC.
- Pet supply retail growth: 12% to $950 million in NYC 2022.
- Office supply sales in Manhattan: $1.5 billion in 2022.
- NYC retail sales per capita: $17,890 in 2022.
- Florist retail revenues: $420 million across NYC boroughs in 2022.
- Total retail sales in NYC increased 8.7% YoY to $152.4B in 2022.
Sales and Revenue Interpretation
While Manhattan's luxury scene dazzles and e-commerce grows relentlessly, the true, sprawling story of New York retail is written in its grocery aisles, pharmacy runs, and the enduring, if occasionally tragic, quest for a good bagel, proving the city's economy is ultimately fueled by daily necessity and the sheer will to survive in style.
Sources & References
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