About two-thirds of the U.S. economy consists of consumer spending, making it the most important factor driving economic growth in the modern era. While drop shipping and e-commerce continue to change the way companies think about retail, major American businesses continue to expand and operate hundreds of thousands of supermarkets, coffee shops, banks, and department stores.
24/7 Wall St. reviewed foot traffic patterns provided by data service company Placed Insights, which calculated the percentage of Americans 13 and older who visited various stores in April 2019. We also reviewed U.S. sales and store count data from company financial documents.
Many of the retailers owe their popularity to the strength of their brand. Several companies this list, including McDonald’s and Starbucks also rank among the 50 most valuable brands in the world.
Though these stores range from hardware stores to coffee shops, the one thing these stores have in common is that they all sell items that are necessary and have everyday use such as health care, food, tools, appliances, and clothing. Therefore, these stores are relatively safe from major shifts in consumer trends or the United States’ shifting demographic profile compared to other businesses.
However, while they remain popular for now, several of these retailers have seen their sales decline, and the loss in business has resulted in several being among the list of retailers closing the most stores.