Kick off each morning with coffee and the Daily Brief (BYO coffee). feet: 239,581 in thousands Sales per capita is defined as sales by state divided by state population. E-commerce and Amazon, after all, are part of retail, too, and they’re doing alright. How Public Employee Unions are Bankrupting the Nation, Clean Money - Picking Winners In The Green Tech Boom, The Monetary Elite vs. Gold's Honest Discipline, Country by Country Per Capita Retail Space Comparison; Lowe's Takes 44% Earnings Hit on Store Closings; JC Penny Reports 3rd Quarter Loss; Retail Store Closing Roundup, NYT 10th Annual Year in Ideas - #1 Idea of the Year 'Do-It-Yourself Macroeconomics'. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. These are the core obsessions that drive our newsroom—defining topics of seismic importance to the global economy. Per Capita Retail Space Comparison This created a bubble, and like housing, that bubble has now burst. Japan ranks second with 32 countries. In the worldwide oil industry, an oil barrel is defined as 42 US gallons, which is about 159 liters.

This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year. The U.S. has the most retailers -- 80 -- on the list of the top 250 retailers in the world.

Physical stores are still where the great majority of purchases happen. The size of the issue becomes clear when comparing the square footage of retail space available for lease, both used and unused, per person in the US to other countries. Our emails are made to shine in your inbox, with something fresh every morning, afternoon, and weekend. All Rights Reserved. Thousands of new doors opened and rents soared. This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.

Earlier this year, analysts at Credit Suisse estimated that more stores could shutter this year than during the Great Recession in 2008. Retail square feet per capita in the United States is more than six times that of Europe or Japan. © 2020 Quartz Media, Inc. All rights reserved. And this doesn’t count digital commerce. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country.

Many experts believe that the number of retail establishments per capita in the United States was excessive even before the economy recessed. News for the next era, not just the next hour. American retail is in serious need of a diet, and 2017 is forcing it on one. These are some of our most ambitious editorial projects. Quartz is owned by Uzabase, the business intelligence and media company. Enjoy! This page provides values for Retail Sales YoY reported in several countries.

But the retail landscape of years ago has changed, and now it’s filling up with empty storefronts. This calculates price of crude oil $0.24-$0.25 per liter. The retail environment is different in the US, where consumer spending is higher than most countries, but the numbers still point to bloating in the country’s physical retail space. One of the underlying causes is the amount of physical retail space in the US, which grew excessively even as more shopping began taking place online.

Copyright 2009 Mike Shedlock. 2018 sales per capita. This is a list of countries (or regions) by total road network size, both paved and unpaved.. Also included is additional data on the length of each country's or region's controlled-access highway network, also known as expressway, freeway, motorway, and so forth (they are known by … First consider Store Closings Slam Lowe's Profit, Click Here To Scroll Thru My Recent Post List, Plunder! [1], "Households and NPISHs Final consumption expenditure per capita (constant 2010 US$)", World Development Indicators database, updated on 28 October 2019, List of top international rankings by country, Number of broadband Internet subscriptions,, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License, This page was last edited on 18 October 2020, at 15:03.

What are other retailers doing?

For all the talk of the “retail apocalypse” taking place in the US, the reality is that retail overall isn’t dying.

Our industry, not unlike the housing industry, saw too much square footage capacity added in the 1990s and early 2000s. Still, it is not included in this one again (and the data is available only for the years 2017/18), for the same reason – not consuming enough to appear in the overall report. We are seeing the results, doors shuttering and rents retreating. In 2015—the most recent year with comparable data available—the US had about 23.6 sq ft of retail space per person available, according to estimates from PwC. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Retail Sales YoY.

Lowe's reported a 44% decline in store profits today and blamed store closings. The biggest single component of retail gasoline or petrol prices is the cost of the crude oil used to produce the gasoline. And this doesn’t count digital commerce. The 2018 report reflects the revenue that was generated in the fiscal year 2016. ”It’s unlikely that the square footage of retailing floorspace per person in the US will shrink to the Australian levels, mainly due to the fact that US consumers are more consumptive than other mature regions,” says Byron Carlock Jr., who heads up PwC’s US real estate practice.

As the Financial Times reported (paywall), that’s more than twice the amount in Australia, and roughly five times that of the UK and other European countries. The suffering is mostly concentrated in brick-and-mortar retailers, particularly malls and department stores. In other reports, the Netherlands contributed to this top with 8.4 kg per capita.

Wal-Mart is still, by far, the largest retailer in the world, with a couple of the United States' other retailers coming in second and third, Costco and Kroger, respectively. Iceland follows Norway (the second largest consuming country per capita) with 9.0 kg per capita and Denmark with 8.7 kg. Recently, that price of WTI crude oil has been $39-$40 a barrel. The latest figures for each country and territory are shown.

Urban Outfitters CEO Richard Haynes summed up the situation during an earnings call with analysts in March: Retail square feet per capita in the United States is more than six times that of Europe or Japan. According to the 2007 Economic Census, there were 1,122,703 retail establishments in the United States and a total of 14.2 billion square feet of retail space.

“However, I do believe the existing square footage per capita will shrink and eventually space will be repurposed.”. It also includes payments and fees to governments to obtain permits and licenses. This trend will continue for the foreseeable future, and may even accelerate. Hedge funds, as noted by the Financial Times and others (paywall), think the next big short opportunity is likely to come from retail.

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. By providing your email, you agree to the Quartz Privacy Policy. total stores: 1,844 total sq. A slimming down is already underway.

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