NAICS Code 459510-43 - Used Merchandise Stores (Retail)
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NAICS Code 459510-43 Description (8-Digit)
Hierarchy Navigation for NAICS Code 459510-43
Parent Code (less specific)
Tools
Tools commonly used in the Used Merchandise Stores (Retail) industry for day-to-day tasks and operations.
- Pricing guns
- Tagging guns
- Hangers
- Clothing racks
- Shelving units
- Display cases
- Cash registers
- Credit card machines
- Cleaning supplies
- Hand trucks
Industry Examples of Used Merchandise Stores (Retail)
Common products and services typical of NAICS Code 459510-43, illustrating the main business activities and contributions to the market.
- Vintage clothing
- Antique furniture
- Used books
- Secondhand electronics
- Pre-owned jewelry
- Thrift store finds
- Retro home decor
- Consignment items
- Collectibles
- Retro video games
Certifications, Compliance and Licenses for NAICS Code 459510-43 - Used Merchandise Stores (Retail)
The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.
- Hazardous Waste Management Certification: Used Merchandise Stores (Retail) may handle hazardous waste materials such as batteries, electronics, and chemicals. This certification ensures that the business is compliant with federal and state regulations for the safe handling, storage, and disposal of hazardous waste. Certification is provided by the Environmental Protection Agency (EPA).
- Resale Certificate: This certificate allows Used Merchandise Stores (Retail) to purchase goods for resale without paying sales tax. It is issued by the state's Department of Revenue.
- Business License: A business license is required to operate a Used Merchandise Store (Retail) in most states. It ensures that the business is compliant with local regulations and zoning laws. The requirements and application process vary by state and locality.
- Fire Safety Inspection: Used Merchandise Stores (Retail) are required to pass a fire safety inspection to ensure that the building and merchandise are safe from fire hazards. The inspection is conducted by the local fire department.
- OSHA Compliance: Used Merchandise Stores (Retail) must comply with Occupational Safety and Health Administration (OSHA) regulations to ensure a safe working environment for employees and customers. This includes providing training, safety equipment, and maintaining a hazard-free workplace.
History
A concise historical narrative of NAICS Code 459510-43 covering global milestones and recent developments within the United States.
- The used merchandise industry has been around for centuries, with the first recorded instance of a pawnshop dating back to ancient China in the 5th century BC. In Europe, the industry began to flourish in the Middle Ages, with pawnshops and second-hand stores becoming popular. In the United States, the industry began to take shape in the late 19th century, with the first pawnshop opening in New York City in 1896. The industry continued to grow throughout the 20th century, with the rise of thrift stores and consignment shops. In recent years, the industry has seen a surge in popularity due to the rise of online marketplaces such as eBay and Craigslist, which have made it easier for consumers to buy and sell used goods. In the United States, the used merchandise industry has seen significant growth in recent years, with the rise of online marketplaces and the increasing popularity of thrift shopping. According to a report by ThredUp, the online secondhand clothing market is expected to reach $64 billion by 2024, up from $28 billion in 2019. The report also found that 64% of consumers are now buying secondhand clothing, up from 45% in 2016. The rise of sustainable fashion and the growing awareness of the environmental impact of fast fashion have also contributed to the growth of the industry. Overall, the used merchandise industry in the United States is thriving and shows no signs of slowing down.
Future Outlook for Used Merchandise Stores (Retail)
The anticipated future trajectory of the NAICS 459510-43 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.
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Growth Prediction: Growing
The future outlook for the Used Merchandise Stores (Retail) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for affordable and sustainable products. The trend of buying second-hand goods has gained popularity among consumers due to the rising awareness of environmental issues and the desire to save money. The industry is also expected to benefit from the growth of e-commerce platforms that specialize in the sale of used goods. However, the industry may face challenges due to the increasing competition from online marketplaces and the changing consumer preferences. Overall, the industry is expected to grow steadily in the coming years.
Industry Innovations for NAICS Code 459510-43
Recent groundbreaking advancements and milestones in the Used Merchandise Stores (Retail) industry, reflecting notable innovations that have reshaped its landscape.
- Online Marketplaces: The emergence of online marketplaces such as eBay, Craigslist, and Facebook Marketplace has revolutionized the way used merchandise is sold. These platforms have made it easier for consumers to buy and sell used goods, and have expanded the reach of the industry.
- Sustainable Fashion: The trend of sustainable fashion has led to an increase in the demand for second-hand clothing and accessories. Many retailers have started to offer used clothing as a way to cater to this growing demand.
- Social Media Marketing: Used merchandise stores have started to use social media platforms such as Instagram and TikTok to market their products. This has helped them to reach a wider audience and increase their sales.
- Curated Collections: Some used merchandise stores have started to offer curated collections of vintage and designer items. This has helped them to differentiate themselves from their competitors and attract customers who are looking for unique and high-quality products.
- In-Store Experiences: Some used merchandise stores have started to offer in-store experiences such as workshops and events. This has helped them to create a sense of community and attract customers who are looking for more than just a shopping experience.
NAICS Code 459510-43 - Used Merchandise Stores (Retail)
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