Major Group SIC 54 - Food Stores

SIC 54 - Food Stores

SIC 54 - Food 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

This major group includes retail stores primarily engaged in selling food for home preparation and consumption. Establishments primarily engaged in selling prepared foods and drinks for consumption on the premises are classified in Major Group 58, and stores primarily engaged in selling packaged beers and liquors are classified in Industry 5921.

Industry trends:

In recent years, the food store industry, classified under SIC 54, has experienced several notable qualitative trends that are expected to shape its future. One key trend is the growing consumer demand for convenience, which is driving the proliferation of smaller format stores and the integration of technology that facilitates quick and efficient shopping experiences. This shift is partly due to urbanization, where many consumers are opting for quick store visits rather than large weekly stock-ups.

Sustainability and ethical sourcing have also become significant motivators for consumer purchasing decisions. Shoppers are increasingly seeking out food products that are local, organic, or ethically sourced, reflecting a broader societal shift towards environmental consciousness and sustainability. In response, many food stores are segmenting their offerings to include more locally sourced and environmentally friendly products, along with transparent labeling to communicate these attributes to consumers.

Technological advancements continue to transform the food store sector with innovations such as cashier-less stores, personalized shopping experiences via data analytics, and advanced delivery solutions. These technologies not only enhance customer convenience but also provide a competitive edge in the crowded food retail market. Moreover, the drive to improve online presence, catalyzed by the pandemic, remains a priority as e-commerce maintains its importance with robust online ordering and delivery systems expected to remain in high demand.

Looking ahead, food stores are likely to further blend in-store and online experiences, including the adoption of augmented reality applications for enhanced product interaction and increased investment in supply chain resilience to cope with any future disruptions. These evolving consumer preferences and technological innovations suggest a future where food stores must be agile, tech-savvy, and aligned with consumer values to thrive.

This industry is comprised of:

SIC 541 - Grocery Stores

SIC 542 - Meat And Fish (seafood) Markets, Including Freezer Provisioners

SIC 543 - Fruit And Vegetable Markets

SIC 544 - Candy, Nut, And Confectionery Stores

SIC 545 - Dairy Products Stores

SIC 546 - Retail Bakeries

SIC 549 - Miscellaneous Food Stores

Explore related industries:

SIC 20 - Food And Kindred Products SIC 53 - General Merchandise Stores SIC 58 - Eating And Drinking Places

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