- Report ID: BMRC 1326 | Number of pages: 200 | Publish Date: Jan 2021
Status: Published | Category: Food And Beverage | Delivery Timeline:
Global Retail Industry is valued at USD 26021.42 Billion in 2020 and expected to reach USD 37353.35 Billion by 2027 with the CAGR of 5.3% over the forecast period.
Global Retail Industry: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026- The rising need for consumer goods in different sectors including consumer electronics, home appliances and rapid increase in the number of internet users are some of the major factors driving the retail development.
The retail industry consists of all companies who sell goods and services to consumers through multiple channels of distribution to earn a profit. The retail industry encompasses of supermarkets, department stores, chain stores, specialty stores, variety stores, franchise stores, mail-order houses, online merchants and door-to-door sellers. Retail stores purchase their goods from wholesalers, stock the goods and resell them to individual consumers in small quantities. Also, it is a vital commercial activity, providing customers with an opportunity to purchase goods and services from various types of merchants. The first retail channel in America was trading posts and general stores. The most common examples of retailing are traditional brick-and-mortar stores. Many different shopper profiles can be identified. Retailers develop customized segmentation analysis for each unique outlet.
Global retail industry report is segmented on the basis of product types, type of store and region & country level. Based upon product type, retail industry is classified into food and grocery, apparel, furniture, consumer electronics, personal care and jewellery. Based upon type of store, global retail industry is classified into convenience store, specialty retailer, supermarket and hypermarket, internet retailing and discount store.
The regions covered in this Global Retail Industry report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Retail industry is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Retail Industry Report covers prominent players are like Best Buy Co. Inc., Walmart Inc., Metro Group AG, Carrefour SA, The Kroger Company, The Home Depot Inc., Tesco, Alibaba Group Holding Limited, Amazon.Com Inc., Costco Wholesale Corporation, Inter Ikea Systems BV, and Target Corporation and others.
Govt. Launched e-retail Chain for Rural India
April 29th, 2020; The government has launched a village-level online retail chain to facilitate the supply of essentials through outlets that are taking orders online and offline and carrying out home deliveries. Under the initiative, the government’s digital Seva portal Common Service Centers Scheme (CSCs), which reaches over 60 crore people through its around 3.8 lakh outlets, is leading the effort and private individuals under the guidance of the ministry of electronics and IT will run the outlets.
The retail industries are mainly driven by many factors such as rising need for consumer goods in different sectors including consumer electronics and home appliances and rapid increase in the number of internet users. Retailing is a vital commercial activity, providing customers with an opportunity to purchase goods and services from various types of merchants. The consumer goods sector is a group of stocks and companies that relate to items purchased by individuals and households rather than by manufacturers and industries. This sector includes companies involved with food production, packaged goods, clothing, beverages, automobiles and electronics. Thus, the rising need for consumer goods in different sectors including consumer electronics and home appliances is supplementing the growth of retailer market. According to Ecommerce Statistics, with e-retail sales accounting for 14.1% of all retail sales worldwide, ecommerce continues to grow at a speedy rate despite global economic uncertainty. In addition, rapid increase in the number of internet users is also expected to drive the growth of retail industries. According to internet Statistics for 2020, there are currently over 4.33 billion active internet users worldwide. There are 3.9 billion unique mobile internet users globally, which makes up 51 percent of the global population. Also, Revenues from ecommerce retail are projected to hit USD 4.2 trillion in 2020.
However, lack of supply chain effectiveness and threat from unorganized food retailers are the major restraint of the market. In spite of that, the burgeoning middle-class population and increasing online retail shopping are offsetting these challenges and presenting growth opportunities for the retailer market.
On the basis of retail industry analysis, Asia pacific is expected to dominate the growth of global retail market due to the growing penetration of smartphones, mobile devices and the internet services in this region. E-commerce has emerged as a major shopping platform in the Asia pacific. As the country with the most internet users, China is the world's largest and one of the fastest growing e-commerce markets. Consumer Ecommerce Statistics stated that with over USD 1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. According to India Brand Equity Foundation, also Online retail sales in India is expected to grow 31 per cent to touch USD 32.70 billion in 2018, led by Flipkart, Amazon India and Paytm Mall.
North America is expected to witness a significant growth in the global retail market due to the growing ecommerce market in this region. The second-largest ecommerce market in the world is the U.S with USD 586.9 billion. Far of ecommerce growth is attributable to Amazon, which is growing at above market rates and was expected to account for 37.7% of online U.S. sales in 2019. While in-store sales still account for nearly 90% of total retail sales, the total market share of online U.S. retail sales is now higher than general merchandise sales for the first time ever.
By Product Types: Food and Grocery, Apparel, Furniture, Consumer Electronics, Personal Care, Jewellery
By Type of Store: Convenience Store, Specialty Retailer, Supermarket and Hypermarket, Internet Retailing, Discount Store
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Key Benefits for Global Retail Industry Report–
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Retail Industry Market Size By Product Types (Food and Grocery, Apparel, Furniture, Consumer Electronics, Personal Care, Jewellery) Forecast 2021-2027