NAICS Code 5311 - Lessors of Real Estate

NAICS 5311 - Lessors of Real Estate

NAICS 53 - Real Estate and Rental and Leasing
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 531 - Real Estate
  NAICS 531 - Real Estate NAICS 532 - Rental and Leasing Services NAICS 533 - Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)
  - NAICS 5311 - Lessors of Real Estate
    NAICS 5311 - Lessors of Real Estate NAICS 5312 - Offices of Real Estate Agents and Brokers NAICS 5313 - Activities Related to Real Estate

This industry comprises establishments primarily engaged in acting as lessors of buildings used as residences or dwellings, such as single-family homes, apartment buildings, and town homes. Included in this industry are owner-lessors and establishments renting real estate and then acting as lessors in subleasing it to others. The establishments in this industry may manage the property themselves or have another establishment manage it for them.

Industry trends:

The department store sector, classified under NAICS 5311, has been undergoing significant transformations driven by digital integration, consumer behavior shifts, and sustainability trends. One of the most notable qualitative trends is the increasing adoption of omnichannel retail strategies. Department stores are leveraging digital platforms to complement their brick-and-mortar presence, offering seamless shopping experiences across online and offline channels.

Personalization and experiential retail are also gaining traction. Consumers now seek more personalized shopping experiences, which department stores are providing through data analytics and AI-driven recommendations. Additionally, in-store experiences are enhanced through interactive displays, pop-up shops, and exclusive events to attract foot traffic.

Sustainability is another key trend. Department stores are increasingly adopting sustainable practices, including eco-friendly products, minimizing carbon footprints, and ethical sourcing, to cater to the rising consumer demand for conscious consumption.

Looking ahead, the forecast for department stores includes continued investment in technology, particularly AI and machine learning for inventory management and customer insights. There will be a greater emphasis on building robust e-commerce platforms and integrating advanced logistics to ensure fast delivery. Moreover, partnerships with digital apps and services are expected to grow, as department stores aim to provide holistic shopping experiences that meet the evolving needs of tech-savvy consumers.