Before we look at the tables, note that in small towns with small job markets, high concentration doesn’t necessarily mean a huge amount of online shopping jobs; it simply means that these industries are taking up a large percentage of all the different occupations in that town. E-shopping, for example, has the crazy high concentration of 70.3 in Fernley, Nevada, where it is the third biggest industry with 678 of the town’s 13,000 jobs. It’s a similar story for auctions in Meadville, PA (34.68).
The tables below give us the top MSAs according to each industry's concentration, measured in terms of location quotient (LQ). Click for the full rundown, but concentration essentially tells us for which cities these two industries are the most unique and powerful. The higher the LQ, the higher the concentration, and some of these are ridiculously high.
Electronic auctions (NAICS 454112):
Electronic shopping (NAICS 454111):
Both e-shopping and auctions have grown a good deal since we came out of the recession, but perhaps auctions is the real Cinderella story. With a 7.5% drop in employment in 2007-2008, it had more ground to regain, which it did with 29% growth from 2010 to 2012. E-shopping nosed up 4.5% during the recession and has continued to grow 22% over the past two years.
Auctions' jobs multiplier is also more impressive: 5.32 compared to e-shopping's 3.02. This means that for every job in auctions, another 4.32 jobs are created elsewhere in the economy, while e-shopping yields an extra 2.02 jobs.
E-shopping blows auctions out of the water as far as jobs are concerned: 131,000 vs. 18,000, over seven times as many. But auctions reels in scads more money per job per year: $93,000 vs. $58,000.
In this post, we’re zooming in on the 2010-2012 growth of these two particular online shopping industries. Electronic shopping (NAICS 454111) is exactly what it sounds like. To use the US Census Bureau's description, the sub-industry "comprises establishments engaged in retailing all types of merchandise using the Internet." Electronic auctions (NAICS 454112) "comprises establishments engaged in providing sites for and facilitating consumer-to-consumer or business-to-consumer trade in new and used goods, on an auction basis, using the Internet." We should also note that establishments in the auctions industry "provide the electronic location for retail auctions, but do not take title to the goods being sold."
It isn’t just the comfort and convenience of clicking through images instead of prowling the mall; it's the techy layout that scratches our gizmo itch. It's the cool factor of browsing on a browser and not our feet, and having our pockets buzz with bid alerts.
The last decade's surge of online shopping has given "window shopping" a whole new meaning. Since 2001, jobs in electronic shopping (e.g., Amazon — the Walmart of the web) have grown over 100%, while electronic auctions (think eBay) has behemothed a full 164%.
Industry Report: E-Shopping & Auctions
Joshua Wright is a member of the EMSI marketing team and manages the EMSI blog. If you have any questions, comments, or article ideas, please .
The EMSI Blog provides data, links, articles, and other information related to labor market trends, regional economics and workforce and economic development.
Industry Report: E-Shopping & Auctions « EMSI | Economic Modeling Specialists Intl.
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