Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Retail Market Overview
• Retail market size has reached to $28469.66 billion in 2024
• Expected to grow to $41443.72 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%
• Growth Driver: Transforming Retail Through Data Analytics Drives Efficiency, Customer Engagement, And Loyalty
• Market Trend: Revolutionizing Retail Through The Rise Of Drone Delivery In The E-Commerce Industry
• Asia-Pacific was the largest region in 2024 and North America is the fastest growing region.
What Is Covered Under Retail Market?
Retail refers to selling goods in small quantities to the end users. Retailing involves buying from wholesalers or direct from producers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery.
The major types of retail are motor vehicle and parts dealers, food and beverage stores, gasoline stations, miscellaneous store retailers, cosmetics and personal care stores, clothing and clothing accessories stores, electronics and appliance stores, furniture and home furnishings stores, supermarkets, and hypermarkets, convenience, mom and pop stores, department stores and other general merchandise stores, E-Commerce, and other non-store retailers, building materials and garden equipment and supplies dealers, pharmacies, healthcare stores, and sporting goods, hobby, musical instrument, and book stores. A bookstore is a location of business where the principal commodity for sale is books. The ownership forms include retail chains, and independent retailers that are distributed through supermarkets and hypermarkets, convenience stores, department stores, specialty stores, online, and others.