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Unformatted text preview: tend to be low paid, and many work less than full
time. The average annual wage in the retail sector
in 2010 was under $27,000 compared with almost
$48,000 for all private-sector workers.
The retail workforce has shrunk, shedding nearly
14,000 jobs from the peak in 2007. These job losses
can be explained by several factors. A sluggish
state economy and flagging sales slowed growth
in demand. The Retail Sector has consolidated,
and many stores have closed. Major closures in
the Denver Metro area in 2011 included Saks,
Niketown, and Lowes, although the Ikea furniture
retailer and H&M clothiers opened new stores in
the state. Retailers continue to look for productivity enhancements, including supply-chain efficiencies in retailers such as Walmart. 2012 Colorado Business Economic Outlook Coloradans spent more than $62 billion at retail
establishments in 2010. The largest total expenditures occurred in food and beverage stores, which
accounted for more than 21% of the total. Sales in
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery