NAICS 44-45

Retail Trade in Madison, WI

Metro Market Score 45.9 (Moderate), ranked #90 of 378 metros. 1,928 establishments, 37,878 jobs.

Metro Market Assessment

Metro Market Score 45.9
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Moderate

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

Few retail trade firms have established themselves in Madison yet. The concentration index of 11.6 is well below the metro median, while employment growth is positive (trend: 53.2). That combination points to a market still building out.

Industry Concentration
11.6
LQ: 0.93
Rank #44 of 378 metros
Wage Competitiveness
64.5
$39,255 avg wage
Growth Trend
53.2
Employment growth index
Rank #178 of 378 metros
Wage Pressure
64.3
YoY wage change index

1,928 Retail Trade Firms in Madison

1,928
Establishments
+1.8% YoY
37,878
Total Employment
-0.1% YoY
$39,255
Average Annual Wage
+0.5% YoY
0.93
Location Quotient
Below national avg

Madison vs Wisconsin Statewide

How this metro's retail trade market compares to Wisconsin overall. The state ranks #1/51 for entry risk.

Measure Madison WI Statewide
Overall Score 45.9 Moderate 33.3 Moderate
Score Type Metro Market Score Entry Risk Score
Rank #90 of 378 metros #1 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Madison

Real Estate and Rental and Leasing 37.8 Accommodation and Food Services 40.3 Construction 52.1 Other Services 55.0 Information 58.8 Professional, Scientific, and Technical Services 60.0 Finance and Insurance 72.8

Retail Trade in Other Wisconsin Metros

Racine-Mount Pleasant 31.0 #9/378 Wausau 34.6 #21/378 La Crosse-Onalaska 34.8 #24/378 Sheboygan 38.0 #36/378 Appleton 39.0 #46/378 Milwaukee-Waukesha 39.2 #47/378 Eau Claire 45.5 #87/378 Oshkosh-Neenah 47.9 #107/378 Kenosha 49.2 #125/378 Green Bay 53.7 #183/378

+ 2 more metros. View all in Wisconsin →

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Madison's retail trade sector, the wage competitiveness component (64.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.