by Scott Wright

Minneapolis has become a retail market all its own. Target is a major force in the retail world, Supervalu has made a major impact with its acquisition of Albertson’s and its move toward centralizing and Best Buy remains the leader in the electronics industry. Some are calling Minneapolis “the little apple.” And why not? This hotbed of retailers has made Minneapolis the emerging market in the U.S.

How has this affected the job market in Minneapolis? What is the current state of the job market in Minneapolis and where is it heading?

The emergence of these retailers has brought a strong centralized approach and awakened the suppliers for Target, Supervalu and Best Buy. With Target being the force it is, suppliers have had to learn to adapt to Target by developing teams dedicated and local to Target. Supervalu is bringing attention by switching from a wholesaler to a centralized retailer which has made these suppliers wake up and pay attention. Best Buy has captured the attention of suppliers with the huge market share they draw in electronics.

Jobs in Minneapolis have been plentiful and the price points for these positions pushed up because of the demand for qualified candidates. With the development of these supplier teams, especially with the larger companies, there have been almost as many jobs as qualified candidates.

We saw this trend with retail analyst positions. For a while it seemed analyst candidates could pick the job they wanted and receive a very strong compensation package (75K+). In the past year that picture has faded. The slowdown in the economy, the larger suppliers getting most of their people in place, compensation for positions stabilizing and candidates needing to stay in one place to avoid job hopping are all factors impacting the Minneapolis market.

Minneapolis is one of the hot markets to be in and looks to remain that way for some time. Although there was a slowdown in early spring of 2008, everything seems to be moving again. As the Minneapolis retailers and suppliers continue to grow and mature, so do the opportunities centered in this big "little apple."