NAICS Code 455219-71 - Ethnic Products & Service (Retail)

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NAICS Code 455219-71 Description (8-Digit)

The Ethnic Products & Service (Retail) industry involves the sale of goods and services that are specific to a particular ethnic group or culture. This industry caters to the needs of customers who are looking for products that are not commonly found in mainstream retail stores. The products sold in this industry are often unique and have cultural significance. This industry includes a wide range of products such as clothing, jewelry, food, music, books, and art. The services offered in this industry may include cultural events, language classes, and travel services.

Hierarchy Navigation for NAICS Code 455219-71

Tools

Tools commonly used in the Ethnic Products & Service (Retail) industry for day-to-day tasks and operations.

  • Cultural authenticity assessment tools
  • Language translation software
  • Cultural sensitivity training materials
  • Social media marketing tools for targeted advertising
  • Inventory management software with cultural categorization features
  • Cultural trend analysis tools
  • Customer relationship management software with cultural profiling capabilities
  • Cultural competency training materials for employees
  • Cultural etiquette guides for customer service
  • Cultural market research tools

Industry Examples of Ethnic Products & Service (Retail)

Common products and services typical of NAICS Code 455219-71, illustrating the main business activities and contributions to the market.

  • African clothing
  • Asian grocery stores
  • Caribbean music
  • Eastern European art
  • Halal meat markets
  • Indian jewelry
  • Latin American travel services
  • Middle Eastern spices
  • Native American crafts
  • Pacific Islander dance lessons

Certifications, Compliance and Licenses for NAICS Code 455219-71 - Ethnic Products & Service (Retail)

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

  • Fair Trade Certification: This certification ensures that the products sold by the retailer are ethically sourced and produced, and that the workers involved in the production process are treated fairly. The certification is provided by Fair Trade USA.
  • Minority Business Enterprise (MBE) Certification: This certification is for businesses that are at least 51% owned, controlled, and operated by minority group members. It is provided by the National Minority Supplier Development Council (NMSDC).
  • Women's Business Enterprise (WBE) Certification: This certification is for businesses that are at least 51% owned, controlled, and operated by women. It is provided by the Women's Business Enterprise National Council (WBENC).
  • Small Business Administration (SBA) Certification: This certification is for small businesses that meet certain criteria, such as being independently owned and operated, and having a certain number of employees or annual revenue. It provides access to government contracts and other resources.
  • Occupational Safety and Health Administration (OSHA) Compliance: This is not a certification, but rather a set of regulations that businesses must comply with to ensure the safety and health of their employees. It includes requirements for training, recordkeeping, and hazard communication.

History

A concise historical narrative of NAICS Code 455219-71 covering global milestones and recent developments within the United States.

  • The "Ethnic Products & Service (Retail)" industry has a long and rich history worldwide. The trade of ethnic products dates back to ancient times when merchants traveled long distances to trade goods from different cultures. In the United States, the industry began to take shape in the early 20th century when immigrants started to open small shops to sell products from their home countries. In the 1960s and 1970s, the Civil Rights Movement and the rise of multiculturalism led to an increased demand for ethnic products, and the industry experienced significant growth. In recent years, the industry has continued to evolve, with the rise of e-commerce and social media allowing for greater access to and awareness of ethnic products.

Future Outlook for Ethnic Products & Service (Retail)

The anticipated future trajectory of the NAICS 455219-71 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Growing

    The future outlook for the Ethnic Products & Service (Retail) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for ethnic products and services. The rise in the number of immigrants and the growing interest in cultural diversity are some of the factors driving the growth of this industry. Additionally, the increasing popularity of online shopping is expected to boost the growth of the industry. The industry is also expected to benefit from the growing trend of consumers seeking out unique and authentic products. However, the industry may face challenges such as increased competition from online retailers and changing consumer preferences. Overall, the Ethnic Products & Service (Retail) industry is expected to experience steady growth in the coming years.

Industry Innovations for NAICS Code 455219-71

Recent groundbreaking advancements and milestones in the Ethnic Products & Service (Retail) industry, reflecting notable innovations that have reshaped its landscape.

  • The introduction of virtual reality technology in the Ethnic Products & Service (Retail) industry has allowed customers to experience products and services in a more immersive way.
  • The use of social media platforms such as Instagram and Facebook has allowed businesses in the Ethnic Products & Service (Retail) industry to reach a wider audience and promote their products and services.
  • The adoption of sustainable and eco-friendly practices by businesses in the Ethnic Products & Service (Retail) industry has become a recent trend, with many businesses offering products made from sustainable materials or using eco-friendly production methods.
  • The increasing popularity of subscription boxes has also impacted the Ethnic Products & Service (Retail) industry, with many businesses offering monthly subscription boxes featuring ethnic products and services.
  • The use of artificial intelligence and machine learning in the Ethnic Products & Service (Retail) industry has allowed businesses to personalize their offerings and provide a more tailored experience for customers.

NAICS Code 455219-71 - Ethnic Products & Service (Retail)

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