4583 - Jewelry, Luggage, and Leather Goods Retailers
When it comes to understanding the retail landscape for luxury and everyday accessories, NAICS code 4583 plays a pivotal role. This code is specifically designed for businesses engaged in the retailing of jewelry, luggage, and leather goods. Whether you are a government contractor, supplier, or entrepreneur, knowing this NAICS code and the associated industry details can help you navigate opportunities in the retail trade sector effectively.
What is NAICS Code 4583?
NAICS code 4583 refers to Jewelry, Luggage, and Leather Goods Retailers. This classification captures establishments primarily focused on selling:
- Fine jewelry and watches
- Handbags, wallets, and other leather goods
- Luggage and travel accessories
Retailers under this category often provide a variety of accessories that combine both functionality and fashion, catering to a diverse consumer base.
Sector and Typical Business Activities
This NAICS code falls under the broader Retail Trade sector, one of the largest sectors driving consumer spending and economic growth. Businesses operating under NAICS 4583 typically engage in:
- Jewelry Stores: Retailers specializing in fine jewelry, engagement rings, custom designs, and watches.
- Luggage and Leather Goods Stores: Stores offering travel suitcases, backpacks, briefcases, handbags, belts, and other leather accessories.
- Watch and Clock Retailers: Businesses focusing on retailing luxury and everyday timepieces.
These businesses provide essential fashion and travel accessories, making them vital to both local communities and online retail markets.
Size Standards for NAICS 4583 Eligibility
To qualify under this NAICS code for government contracting or Small Business Administration (SBA) programs, businesses typically must adhere to size standards based on annual receipts. For NAICS 4583:
- Small Business Size Standard: Usually, businesses with annual receipts not exceeding $16.5 million are classified as small.
This size standard helps determine eligibility for various small business set-asides and contracts.
Examples of Businesses That Fall Under NAICS Code 4583
- Local and national Jewelry Stores specializing in fine and fashion jewelry.
- Luggage and Leather Goods Retailers that sell handbags, wallets, and other leather merchandise.
- Specialty Watch and Clock Retailers offering branded wristwatches and timepieces.
- Department stores with dedicated departments for jewelry and travel accessories (may fall under other broader NAICS codes if predominant activity differs).
NAICS Code 4583 Details Table
| Element | Description |
|---|---|
| NAICS Code | 4583 |
| Title | Jewelry, Luggage, and Leather Goods Retailers |
| Sector | Retail Trade |
| Industry Description | Retailing of jewelry, watches, luggage, and leather goods |
| Typical Business Types | Jewelry stores, luggage and leather goods stores, watch retailers |
| Size Standard | Up to $16.5 million in average annual receipts |
Frequently Asked Questions (FAQ)
What products are included in NAICS code 4583?
NAICS 4583 includes fine jewelry, watches, handbags, wallets, luggage, travel accessories, and other leather goods.
Can online jewelry retailers use NAICS code 4583?
Yes, online jewelry and leather goods retailers can classify under this NAICS code as long as retailing is their primary activity.
What SBA size standard applies to NAICS 4583?
The SBA size standard for this NAICS code typically limits businesses to $16.5 million or less in average annual receipts.
Are watch retailers included in this NAICS code?
Yes, retailers that specialize in watches and clocks fall under NAICS 4583.
How does knowing my NAICS code help in government contracting?
Understanding your NAICS code helps identify suitable contracting opportunities, assess eligibility for small business programs, and improve your market positioning.
Conclusion
NAICS code 4583 represents a specialized and essential segment in the retail trade industry, focusing on jewelry, luggage, and leather goods. Whether you are a business owner, supplier, or contractor, understanding the scope, sector, size standards, and business activities associated with this code can significantly enhance your strategic decisions and access to market opportunities. Stay informed and make NAICS 4583 work for your business growth!
Keywords: NAICS code 4583, Jewelry retailers, Luggage stores, Leather goods retailers, Retail trade sector, Small business size standards, Watch retailers, Government contracts
