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Museum Shops & Stores – Industry Analysis, Statistics, Trends, and Forecasts

SIC 5947  |  NAICS 459420

This free online guide to industry research and analysis provides sources for industry statistics, trends, and forecasts, financial ratios, salary surveys, and more.

See the following sections listed below to view available resources by category:

For guides to other industries, see our index of over 400 industries.
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Industry Analysis, Statistics, Trends, and Forecasts


Industry Research Reports
Gift Shops & Card Stores  (view report)
Museums & Art Galleries  (view report)
Comprehensive industry research reports provide in-depth industry analysis and five-year forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Topics addressed in the reports include:
Sample industry research report and selected industry statistics including market size, five-year average growth rate, number of businesses, and total employment are available free online.

Museum Store Association
Resources available from this organization include:

Museum Store Magazine
https://www.museumstoreassociation.org/
Biannual trade publication features news and information for store operators at nonprofit and cultural institutions, with topics addressed in various issues of the magazine including merchandise planning, marketing and communications, customer relations, retail operations, strategic management, human resources, financial management, and utilizing technology. Current edition can be viewed free online.

Museum Store: The Manager's Guide
https://www.museumstoreassociation.org/
Eight-chapter publication features practical guidance for successfully operating a museum store, with topics addressed including managing merchandise, designing displays, customer service, managing staff and volunteers, measuring and tracking store performance, developing effective marketing, and setting up an online retail store. Introductory chapter and table of contents can be viewed free online.

MSA Retail Industry Report
https://www.museumstoreassociation.org/
Comprehensive survey provides a detailed analysis of retail store operations that lets users compare their store to other retail stores by annual gross sales, type of institution, and geographic region, with content sections including store profiles, store sales statistics, staffing levels, salaries, and employee benefits, and marketing budget, methods, and activities. Table of contents can be viewed free online.


MuseumsEtc Ltd
Museum Retailing: A Handbook of Strategies for Success

https://museumsetc.com/

Comprehensive guide published by a leading museum store consultant covers the art and science of museum retailing, with key topics addressed including product selection, merchandising and display, customer service and selling, layout and design, record keeping, pricing and inventory management, store operations, finance, and managing personnel. Detailed table of contents is available free online.


BizMiner Market Analysis Reports
Gift, Novelty, and Souvenir Shops
https://www.bizminer.com  Search for "453220" to see available reports

Market analysis reports provide industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.


More industry research reports »

Financial Statements and Financial Ratios


BizMiner Industry Financial Ratios
Gift, Novelty, and Souvenir Shops
https://www.bizminer.com  Search for "453220" to see available reports
Five-year financial statement analysis reports provide income statements, balance sheets, and key industry financial ratios for companies of all sizes, with financial data available by sales size range on a national, state, and metropolitan area level including:
Sample financial statement and ratio analysis report is available free online.

Industry Research Reports
Gift Shops & Card Stores
(see links for individual reports)  (sample spreadsheet)

Financial benchmarks section provides detailed comparative income statements and balance sheets and over twenty-five industry financial ratios, with financial benchmarks available for each of the five most recent fiscal years and on a historical average basis for three-year, five-year, and ten-year time periods. Sample spreadsheet that includes breakdowns by total asset size can be viewed free online.


Museum Store Association
MSA Retail Industry Report
https://www.museumstoreassociation.org/

Comprehensive survey provides a detailed analysis of retail store operations that lets users compare their store to other retail stores by annual gross sales, type of institution, and geographic region, with financial data provided including gross sales, change in sales, in-store and online sales, transactions and products sold, and inventories, vendors, and SKUs. Table of contents can be viewed free online.


More financial benchmarking data »

Compensation and Salary Surveys


Museum Store Association
MSA Retail Industry Report
https://www.museumstoreassociation.org/

Comprehensive survey provides a detailed analysis of retail store operations that lets users compare their store to other retail stores by annual gross sales, type of institution, and geographic region, with topics covered in the staff section of the report including employment status and salary, employment benefits, and annual payroll expense including benefits. Table of contents can be viewed free online.


Amercian Alliance of Museums
National Salary Survey
https://www.aam-us.org/

Comprehensive salary survey provides detailed compensation data for 52 job positions, with data for museum store managers broken down by gender, highest degree completed, discipline (e.g., history, art, combination, others), budget size, governance, location (e.g., urban, suburban, rural), and region (e.g., New England, NY, Mid-Atlantic, VA, Southeast, FL, Midwest, Mountain Plains, TX, West, CA).


Association of Art Museum Directors
Salary Survey
https://aamd.org/

Annual survey of AAMD members provides compensation information for more than 50 job positions, with compensation data for art museum store managers broken out by budget size, MSA population, and geographic region (e.g., New England, Mid-Atlantic, Southeast, Midwest, Mountain Plains, West, Canada/Mexico). Current salary survey and salary surveys from prior years are available free online.


More compensation surveys »

BV Guides and Databases


BVMarketData
Private Company Sales Transaction Databases
https://www.bvresources.com/
Free "Visitor Search" allows users to search the DealStats, BIZCOMPS, and FactSet/BVR databases for private company sales transaction data by SIC or NAICS Code using the following codes:
  SIC Code 5947 - Gift, Novelty, and Souvenir Shops
  NAICS Code 459420 - Gift, Novelty, and Souvenir Shops
Types of establishments included in these codes
Museum stores - establishments located within a museum or cultural institution that sell merchandise that complements its exhibits, collections, or themes and that serves both as a tangible memento for visitors and an additional revenue source for the institution.
Retail museum stores - establishments located outside of a museum engaged in selling merchandise inspired by its collections, art, history, culture, or themes associated with its mission, and that can reach a more extensive retail audience outside the institution.
Museum gift shops - establishments focused on gift items and higher-end merchandise catering to visitors looking for unique, quality souvenirs, gifts, or collectibles reflecting the collections, art, history, culture, or themes that are associated with the institution.
Online museum stores - establishments that offer an extensive array of items inspired by an institution's exhibits, collections, or themes, ranging from collectibles to educational materials, effectively extending the institution's reach far beyond its physical location.
Art museum stores - establishments offering exhibit-related merchandise inspired by art and creativity, including art reproductions, prints, books, and supplies, that cater to art enthusiasts with an interest in exploring and appreciating various artistic expressions.
Children's museum stores - establishments focused on selling merchandise suitable for children, including educational toys, books, puzzles, and interactive learning tools, that promote curiosity and creativity and encourage them to explore a world of discovery.
Science museum stores - establishments selling a selection of science-themed products, from educational kits and science books to telescopes and novelty gadgets, catering to individuals interested in expanding their understanding of various scientific disciplines.
Aviation and space museum stores - establishments offering an array of items, including model planes, astronaut-themed gifts, and aerospace books, for those interested in the history, exploration, technology, and advancements in aviation and space exploration.
Sample reports with detailed sales transaction data and valuation multiples are available free online.

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Related Industries:
Art Dealers and Commercial Art Galleries
Gift Shops and Greeting Card Stores
Museums and Art Galleries
Zoos, Aquariums, and Botanical Gardens

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