A Satellite Account to Measure the Retail Transformation

A Satellite Account to Measure the Retail Transformation Synopsis

"Retail trade has experienced dramatic changes over the past several decades in the United States, with changes in the types of outlets where goods are sold, the nature of the transactions that provide goods to consumers, and the structure of retail operations behind the scenes. The recent changes include the rise of warehouse stores and e-commerce and the further growth of imports and large retail chains. These changes highlight and typify many aspects of the broader evolution of the economy as a whole in recent years - with the growing role of large firms and information technology - while taking place in a sector that directly serves the vast majority of the American population and provides substantial employment. Despite the everyday experience of these dramatic changes in retail, there is concern that the most transformational aspects of those changes may not be captured well by the economic indicators about the sector. In order to

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