4551 - Department Stores
If you're involved in retail trade or looking to explore opportunities within the sector, understanding NAICS code 4551 is essential. NAICS 4551 represents Department Stores, a pivotal category in retail that captures a wide range of merchandise under one roof. This blog post delves deep into NAICS code 4551, its relevance, and what businesses it covers.
What is NAICS Code 4551?
NAICS code 4551 stands for Department Stores. These are retail establishments providing a comprehensive shopping experience by offering merchandise across various departments. From clothing and apparel to home goods and cosmetics, department stores bring diverse product lines together, making it convenient for consumers to shop in a single destination.
Sector: Retail Trade
NAICS 4551 is situated within the broader Retail Trade sector. This sector covers establishments engaged in selling merchandise to the general public for personal or household consumption.
Detailed Description of NAICS Code 4551 â Department Stores
Department stores under NAICS 4551 are characterized by:
- Wide variety of merchandise organized into distinct departments
- One-stop shopping experience for various consumer needs
- Categories include:
- Clothing and apparel departments
- Home furnishings and appliances
- Electronics
- Cosmetics and beauty products
These stores are typically larger than specialty shops and try to appeal to a broad range of consumers.
Typical Business Activities and Examples
Businesses that fit within NAICS 4551 often engage in:
- Operating clothing and apparel sections, including menâs, womenâs, and childrenâs wear
- Selling home furnishings, such as furniture, kitchenware, and décor
- Providing electronics and household appliances
- Offering cosmetics, skincare, and personal care products
Examples of Businesses With NAICS Code 4551
- Macyâs
- Nordstrom
- Kohlâs
- JCPenney
- Dillardâs
These retail giants personify the department store model through expansive product offerings spread across multiple departments.
Size Standards for NAICS 4551 Eligibility
Understanding size standards is crucial for businesses seeking government contracts or certain benefits.
- For NAICS 4551, the SBA (Small Business Administration) size standard defines a small business as one having average annual receipts of up to $38.5 million.
- Businesses above this threshold are generally considered large and may face restrictions in some government contracting opportunities.
NAICS Code 4551 â Department Stores at a Glance
| NAICS Code | Title | Sector | Description |
|---|---|---|---|
| 4551 | Department Stores | Retail Trade | Establishments offering wide variety of merchandise organized into departments such as clothing, home goods, electronics, and cosmetics |
Frequently Asked Questions About NAICS Code 4551
Q1: What types of products are sold in department stores under NAICS 4551?
A1: Department stores sell a wide range of products including clothing, home furnishings, electronics, cosmetics, and beauty products.
Q2: Are online-only retailers classified under NAICS 4551?
A2: No. NAICS 4551 typically covers physical department store establishments. Online-only retailers generally fall under different codes related to electronic shopping.
Q3: What is the SBA size standard for businesses under NAICS 4551?
A3: Small businesses under this code have average annual receipts up to $38.5 million.
Q4: Can specialty stores fall under NAICS 4551?
A4: No. Specialty stores focus on a narrower product line and are categorized in different NAICS codes. NAICS 4551 encompasses multi-department retailers.
Q5: How does NAICS 4551 relate to government contracting?
A5: Knowing your NAICS code helps businesses identify and target contracts relevant to their sector and qualify for small business programs if size standards are met.
Final Thoughts
NAICS code 4551 covers a broad segment of the retail trade sector, focusing on multi-department stores that provide consumers with an all-encompassing shopping experience. Whether you're a retailer, supplier, or government contracting professional, understanding this code can open doors to market opportunities and help position your business strategically within the retail landscape.
If youâre working in or targeting the department store industry, make sure to leverage this knowledge in your business planning and marketing efforts.
