NAICS Code 424490-18 - Commission Merchants (Wholesale)

Marketing Level - NAICS 8-Digit

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NAICS Code 424490-18 Description (8-Digit)

Commission Merchants (Wholesale) are intermediaries between buyers and sellers of goods. They do not take ownership of the products they sell, but rather act as agents for the seller. Commission Merchants (Wholesale) typically work with agricultural products, such as fruits and vegetables, and are responsible for finding buyers for the products. They negotiate prices and terms of sale, handle the logistics of shipping the products, and ensure that the seller receives payment for the goods. Commission Merchants (Wholesale) may also provide other services, such as grading and packaging of the products.

Hierarchy Navigation for NAICS Code 424490-18

Tools

Tools commonly used in the Commission Merchants (Wholesale) industry for day-to-day tasks and operations.

  • Agricultural scales
  • Grading equipment
  • Packaging equipment
  • Shipping software
  • Price negotiation software
  • Sales tracking software
  • Communication tools (e.g. email, phone)
  • Transportation equipment (e.g. trucks, forklifts)
  • Quality control equipment (e.g. thermometers, moisture meters)
  • Financial software (e.g. accounting, invoicing)

Industry Examples of Commission Merchants (Wholesale)

Common products and services typical of NAICS Code 424490-18, illustrating the main business activities and contributions to the market.

  • Fresh produce
  • Meat products
  • Dairy products
  • Seafood
  • Poultry
  • Nuts
  • Seeds
  • Grains
  • Hay
  • Livestock feed

Certifications, Compliance and Licenses for NAICS Code 424490-18 - Commission Merchants (Wholesale)

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Hazard Analysis and Critical Control Points (HACCP): HACCP is a food safety management system that is required for all food businesses in the US. It identifies potential hazards in the food production process and outlines steps to prevent them. The certification is provided by the International HACCP Alliance.
  • Good Manufacturing Practices (GMP): GMP is a set of guidelines that ensure that products are consistently produced and controlled according to quality standards. It is required for all food businesses in the US. The certification is provided by the NSF International.
  • Safe Quality Food (SQF): SQF is a food safety management system that is recognized by the Global Food Safety Initiative (GFSI). It is designed to ensure that food products meet the highest standards of safety and quality. The certification is provided by the Safe Quality Food Institute.
  • United States Department Of Agriculture (USDA) Organic Certification: This certification is required for businesses that produce, process, or sell organic products. It ensures that the products meet the USDA's strict standards for organic production. The certification is provided by the USDA.
  • National Organic Program (NOP) Certification: This certification is required for businesses that produce, process, or sell organic products. It ensures that the products meet the USDA's strict standards for organic production. The certification is provided by the USDA.

History

A concise historical narrative of NAICS Code 424490-18 covering global milestones and recent developments within the United States.

  • Commission Merchants (Wholesale) have been around for centuries, dating back to the 18th century when they were used to sell goods such as tobacco, cotton, and grain. In the 19th century, commission merchants began to specialize in specific products such as fruits and vegetables. The industry continued to grow and evolve, with the introduction of new technologies such as refrigeration and transportation, which allowed for the expansion of the industry. In recent history, the industry has seen a shift towards more specialized and niche products, as well as an increased focus on sustainability and ethical sourcing. In the United States, the industry has also been impacted by the growth of e-commerce and the increasing demand for online shopping.

Future Outlook for Commission Merchants (Wholesale)

The anticipated future trajectory of the NAICS 424490-18 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The Commission Merchants (Wholesale) industry in the USA is expected to experience steady growth in the coming years. The industry is expected to benefit from the increasing demand for fresh produce and the growing trend of healthy eating. Additionally, the industry is expected to benefit from the increasing demand for organic and locally sourced products. However, the industry is also expected to face challenges such as increasing competition from online retailers and the rising cost of transportation. Overall, the industry is expected to experience moderate growth in the coming years.

Industry Innovations for NAICS Code 424490-18

Recent groundbreaking advancements and milestones in the Commission Merchants (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

  • Increased Use Of Technology: Commission Merchants (Wholesale) are increasingly using technology to improve their operations. This includes the use of software to manage inventory, track sales, and improve logistics.
  • Expansion Into New Markets: Many Commission Merchants (Wholesale) are expanding into new markets to increase their customer base. This includes expanding into new geographic regions and offering new products.
  • Focus on Sustainability: Many Commission Merchants (Wholesale) are focusing on sustainability by reducing waste, using eco-friendly packaging, and sourcing products from sustainable sources.
  • Increased Use Of Data Analytics: Commission Merchants (Wholesale) are increasingly using data analytics to improve their operations. This includes analyzing sales data to identify trends and optimize inventory management.
  • Emphasis on Customer Service: Commission Merchants (Wholesale) are placing a greater emphasis on customer service to differentiate themselves from competitors. This includes offering personalized service and providing fast and reliable delivery.

NAICS Code 424490-18 - Commission Merchants (Wholesale)

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