Retail businesses are expected to flourish in five particular sectors in the next few years, according to research firm IBISWorld.
Tire dealership revenues are estimated to grow 10.0 percent this year, and an average of 3.1 percent per year in the next five years through 2016 due to pent-up demand for replacement tires and more fuel-efficient tires. Handbag, luggage and accessory stores are expected to grow revenue at a rate of 5.5 percent this year, or an average annual rate of 5.1 percent per year through 2016, as consumers begin to loosen their purse strings with the economic recovery.
Art dealers are expected to see their revenues grow an estimated 4.0 percent this year and at an average annual rate of 4.3 percent through 2016, as demand for luxury items rebounds.
Furniture stores are anticipated to see their revenues grow, with revenue projected to increase 3.4 percent in 2012 and at an average annual rate of 3.0 percent through 2016. Specialty food store owners are projected to see their revenues increase 2.3 percent in 2012 and to heat up even more in the next few years.
