Industry Statistics
What Retail Means to Virginia
- Retail is an $85 billion industry in Virginia.
- It is the second largest employer in the Commonwealth, providing over 540,000 jobs.
- There are more than 106,000 retail stores in Virginia.
What Retail Means to the United States
- Retail is the second largest industry in the United States, both in number of establishments and number of employees.
- The U.S. retail industry generates $3.8 trillion in retail sales annually, approximately $11,690 per capita. The retail sector is also one of the largest world-wide.
- Retail trade accounts for about 12.9% of all business establishments in the U.S. Single store businesses account for over 95% of all U.S. retailers.
Retail Facts & Figures
- In Virginia, retailers experience $16 – $20 million in lost sales due to return fraud.
- Virginia retailers lose $33.5 billion annually due to shrinkage. That number represents 1.4% of retail sales in Virginia.
- In 2010, 7% of retail sales were made online. It is estimated that by 2014, online retail sales will reach $248.7 billion.
Uncollected Sales & Use Tax
According to a study conducted by the University of Tennessee, Virginia lost $131.6 million in uncollected sales and use tax revenue from E-commerce purchases. It is expected that this number could rise to $229.8 million in 2012.


