NAICS 44-45

Retail Trade in Minnesota: 2026 Market Risk Report

Entry risk 39.6 (Moderate), ranked #9 of 51 states. 17,994 establishments, 284,854 jobs.

Entry Risk Assessment

Entry Risk Score 39.6
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
Moderate

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

🛡️Stable Market

Minnesota exhibits structural stability in retail trade, with volatility at 10.4 and firm retention ranking in the top half. These metrics suggest lower cyclical risk compared to the national baseline.

5-Year Firm Retention
68.6%
Percentile within industry
Rank #17 of 51 states
Growth Momentum
26.0
Scale of 0-100
Rank #40 of 51 states
Establishment Density
34.6
vs. national average
Rank #18 of 51 states
Market Volatility
10.4
Lower is more stable
Wage Pressure Index
32.0
Labor cost pressure

17,994 Establishments in Minnesota

17,994
Establishments
+1.5% YoY
284,854
Total Employment
+0.5% YoY
$39,364
Average Annual Wage
+2.6% YoY

Minnesota vs National Retail Trade Average

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

Metric MN National Difference
Entry Risk Score 39.6 44.6 -5.0
5-Year Retention 68.6% 51.0% +17.6
Growth Momentum 26.0 42.9 -16.9
Market Volatility 10.4 24.4 -14.0
Establishment Density 34.6 49.0 -14.4
Wage Pressure 32.0 30.5 +1.5

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

Minnesota Ranks #9 of 51 for Retail Trade

Minnesota ranks #9 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
#9 Minnesota You 39.6 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 Minnesota stack up against other states for retail trade?

Select a state above to see the comparison

Retail Trade in Neighboring States

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

Wisconsin 33.3 #1/51 South Dakota 38.9 #7/51 Iowa 40.8 #16/51 North Dakota 49.9 #41/51

Other Industries in Minnesota

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 →