NAICS 44-45

Retail Trade in Indiana: 2026 Market Risk Report

Entry risk 39.8 (Moderate), ranked #10 of 51 states. 21,126 establishments, 314,693 jobs.

Entry Risk Assessment

Entry Risk Score 39.8
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
Moderate

ⓘ Lower is better. Relative to national retail trade average.

The retail trade sector in Indiana is tracking close to the U.S. baseline, with no extreme signals in volatility, saturation, or wage pressure. Entry conditions are within the national median range.

5-Year Firm Retention
58.8%
Percentile within industry
Rank #22 of 51 states
Growth Momentum
32.8
Scale of 0-100
Rank #31 of 51 states
Establishment Density
32.7
vs. national average
Rank #16 of 51 states
Market Volatility
2.7
Lower is more stable
Wage Pressure Index
38.7
Labor cost pressure

21,126 Establishments in Indiana

21,126
Establishments
+0.2% YoY
314,693
Total Employment
-0.3% YoY
$37,509
Average Annual Wage
+3.1% YoY

Indiana vs National Retail Trade Average

How Indiana's retail trade market compares to the national average across all 51 states.

Metric IN National Difference
Entry Risk Score 39.8 44.6 -4.8
5-Year Retention 58.8% 51.0% +7.8
Growth Momentum 32.8 42.9 -10.1
Market Volatility 2.7 24.4 -21.7
Establishment Density 32.7 49.0 -16.3
Wage Pressure 38.7 30.5 +8.2

Green = favorable vs national average. Red = less favorable. Metrics are relative within retail trade only.

Indiana Ranks #10 of 51 for Retail Trade

Indiana ranks #10 out of 51 states for retail trade market entry conditions.

Retail Trade Entry Risk by State

Rank State Risk Score Classification
#1 Wisconsin 33.3 moderate
#2 Nebraska 35.9 moderate
#3 Nevada 37.0 moderate
#4 Massachusetts 37.1 moderate
#5 Alaska 37.2 moderate
#10 Indiana You 39.8 moderate
Entry Risk by State Alaska — 37.2 · #5 Alabama — 46.4 · #36 Arkansas — 51.8 · #44 Arizona — 44.9 · #32 California — 44.0 · #28 Colorado — 42.9 · #23 Connecticut — 44.7 · #31 District of Columbia — 58.0 · #50 Delaware — 41.8 · #19 Florida — 51.0 · #43 Georgia — 47.5 · #38 Hawaii — 56.1 · #48 Iowa — 40.8 · #16 Idaho — 40.1 · #12 Illinois — 48.1 · #39 Indiana — 39.8 · #10 Kansas — 40.4 · #14 Kentucky — 46.4 · #36 Louisiana — 52.3 · #46 Massachusetts — 37.1 · #4 Maryland — 43.6 · #26 Maine — 44.1 · #29 Michigan — 40.5 · #15 Minnesota — 39.6 · #9 Missouri — 50.6 · #42 Mississippi — 59.2 · #51 Montana — 45.8 · #34 North Carolina — 43.4 · #25 North Dakota — 49.9 · #41 Nebraska — 35.9 · #2 New Hampshire — 48.7 · #40 New Jersey — 43.7 · #27 New Mexico — 39.9 · #11 Nevada — 37.0 · #3 New York — 57.2 · #49 Ohio — 39.2 · #8 Oklahoma — 46.3 · #35 Oregon — 42.9 · #24 Pennsylvania — 38.1 · #6 Rhode Island — 42.3 · #21 South Carolina — 44.3 · #30 South Dakota — 38.9 · #7 Tennessee — 42.8 · #22 Texas — 41.6 · #17 Utah — 40.3 · #13 Virginia — 41.6 · #17 Vermont — 52.1 · #45 Washington — 42.0 · #20 Wisconsin — 33.3 · #1 West Virginia — 52.8 · #47 Wyoming — 44.9 · #33
Low Moderate Elevated High

Tap a state to view details

About Entry Risk Score: A weighted composite of firm retention, growth momentum, market volatility, establishment density, and wage pressure. Lower scores indicate more favorable conditions. Read full methodology →

Data Sources

Data period: 2024. Last updated: February 2026. Next refresh expected: Q2 2026 (BLS QCEW update).

Compare to Another State

How does Indiana stack up against other states for retail trade?

Select a state above to see the comparison

Retail Trade in Neighboring States

How Indiana's retail trade market compares to bordering states.

Ohio 39.2 #8/51 Michigan 40.5 #15/51 Kentucky 46.4 #36/51 Illinois 48.1 #39/51

Other Industries in Indiana

Construction → Healthcare and Social Assistance → Accommodation and Food Services → Professional, Scientific, and Technical Services → Finance and Insurance → Real Estate and Rental and Leasing → Administrative and Support Services → Information → Other Services →