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Industry Sales Statistics From Your Uncle SamIf you would like to compare your business to your industry as a whole and look at trends over time, there is a source you might not have thought of checking: The US Government. Who knew the Census Bureau has sales and inventory statistics for retail businesses going back to 1992? You can go to the Census Bureau website (http://www.census.gov/mrts/www/mrts.html) to find a tremendous amount of raw information about retail and food service. You can see the information as web pages or get it as delimited data that you can copy/save/paste into Excel, etc. Of course making sense of the data is the challenge. The data is already sorted for you by NAICS Code, so you can go to the relevant line for your type of business. To help you make sense of it, there is also information about related surveys, the methodology used to collect the data, Frequently Asked Questions, and the full report as a downloadable PDF file. Hey, you already paid for it, so you might as well learn something from it! If you'd rather compare your business with the big publicly traded retailers, take a look at prnewswire.com's Monthly Retail Sales Comparison (http://www.prnewswire.com/industryfocus/ret/retailreports/retailreport.shtml). There's a variety of companies represented with names we all know, and the sales numbers might just tell you something useful about the industry you are in. |