Markup and profit vary widely by category.
The highest is typically on clothing. The lowest is on food and electronic items.
In the 80s I supplied merchandise to tourist oriented gift shops in Florida. In that case the minimum markup was 100%. Licensed material like Disney and such got 125 to 150 percent markup.
And you are correct I’m pretty sure that’s definitely greater than a whole lot of the retail industry.
The reality is that in the retail market it’s no slam dunk to make a profit, under favorable circumstances. Local taxes and regulations also make a brick and mortar store an expensive proposition.