Retail is a major pillar of the Illinois economy. Illinois retail is the largest employer employing 1 in 5 Illinoisans and generates a major source of revenue for state and local government. Retailers strive each day to meet the needs of consumers in the way they want to be met and provide the goods and services they demand.
Illinois retail is comprised of the largest publicly-owned chains and the smallest independently owned stores. Hardware, pharmacy, grocery, fashion, restaurants, convenience stores, etc. are all part of the Illinois retail community. A thriving retail sector means more jobs for those who need them, economic growth, an increased tax base and more.
An Inside Look at Illinois Retail
Learn About Illinois Retail’s Economic Impact
For every $1 spent in an Illinois retail establishment, $.02, or less, is profit.
Retailers in Illinois know all too well the heavy costs of doing business in the
most competitive economic sector. The Illinois Retail Merchants Association
(IRMA) invites you to learn more about the issues.
The Retailer’s Share of a Dollar
Get to know the facts.
• Operating costs (taxes, fees, utilities, insurances, maintenance, advertising and other expenses)
The litany of cost mandates from city and state governments have made an already difficult business climate even tougher for Illinois retailers. Retailers face increased arbitrary wage mandates, ever-increasing regulatory burdens, and sales tax and property tax policies that are among the highest in the nation. While each cost mandate is looked at by itself, retailers only have one pocket, and only so much profit, from which to pay.
Taxes and mandates are driving retailers to the breaking point.
Questions? Contact us.
The Real Costs of Running a Business
The Story of Illinois Retailers and their $.02 profit margin