Retail establishments contribute 34 billion dollars to the CT economy, but the industry is fraught with challenges from technology to consumer habits. The President of CT Retail Merchants Association
, Tim Phelan, joins Newsmakers.
Retail in Connecticut is a great story - with great impact. In Connecticut, retail supports more than 470,000 jobs and contributes more than $34 billion to the state's economy, and data indicates that Connecticut has roughly 41,900 retail establishments. Overall, the retail industry produces approximately 14 percent of Connecticut's total GDP, with more than 98 percent of all retail companies employing fewer than 50 people, and providing a wide array of fulfilling and rewarding careers.