Major Group SIC 5331 - Variety Stores

SIC 5331 - Variety Stores

SIC 53 - General Merchandise Stores
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 533 - Variety Stores
  SIC 531 - Department Stores SIC 533 - Variety Stores SIC 539 - Miscellaneous General Merchandise Stores
  - SIC 5331 - Variety Stores
    SIC 5331 - Variety Stores

Establishments primarily engaged in the retail sale of a variety of merchandise in the low and popular price ranges. Sales usually are made on a cash-and-carry basis, with the open-selling method of display and customer selection of merchandise. These stores generally do not carry a complete line of merchandise, are not departmentalized, do not carry their own charge service, and do not deliver merchandise.

Industry trends:

The Variety Stores industry (NAICS 5331) is witnessing significant qualitative trends that signal its evolving landscape. One notable trend is the growing importance of e-commerce and omnichannel retailing. As consumer preferences shift towards online shopping for convenience and variety, many traditional variety stores are expanding their digital presence. This includes optimizing online platforms, improving user experiences, and integrating online and offline operations to offer seamless shopping experiences.

Sustainability and ethical consumerism are also shaping the industry's direction. Consumers are increasingly prioritizing eco-friendly and ethically produced products, prompting variety stores to stock sustainable goods and reduce their carbon footprint. This trend aligns with broader shifts towards corporate social responsibility (CSR) and environmental stewardship.

The near future will likely see continued integration of advanced technologies. Artificial intelligence (AI) and data analytics are becoming crucial for personalized marketing, inventory management, and customer service enhancement. Predictive analytics, in particular, empowers stores to anticipate customer needs and streamline supply chains, ensuring optimal stock levels and reducing waste.

Moreover, there is an increasing emphasis on community engagement and local sourcing. Variety stores are spotlighting local artisans and products, fostering community bonds and supporting local economies. This trend responds to the growing consumer desire for unique, locally-sourced items that offer authenticity and support their communities.

In summary, the Variety Stores industry is adapting to the digital revolution, heightened sustainability awareness, technological advancements, and a stronger focus on community links. These trends are expected to continue influencing strategies and consumer interactions in the near future.

This industry is comprised of:

Limited price variety stores-retail

Explore related industries:

SIC 5251 - Hardware Stores SIC 5411 - Grocery Stores SIC 5651 - Family Clothing Stores

Buy the detailed report

This report includes the ability to segment your Industry by:

Region
Employees
Net Sales

Company Age
Total Assets
Ownership Type

View interactive report sample

With iCFO You Get

What Is iCFO?

A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.

Sound Business Analysis

Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.

Your Business’ Health In Minutes

It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.