What Has Been the Growth Trajectory for the Retail Market in Recent Years?
The retail market has seen considerable growth due to a variety of factors.
• The size of the retail market has seen significant expansion in recent years. By 2025, it is projected to swell from $31983.19 billion in 2024 to $34867.41 billion, experiencing a compound annual growth rate (CAGR) of 9.0%.
Factors contributing to this swell during the historic period include rapid economic progress in emerging markets, an upsurge in population numbers within city areas, investment from abroad in this sector, an increase in the franchise model of business, a surge in the demand for supermarkets, hypermarkets, discount stores as well as out-of-town retail parks, and a generous availability of finance options within the retail industry.
What Is The Projected Growth Of The Retail Market?
The retail market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next few years, the retail market is forecasted to witness significant growth, ballooning to a size of $46776.2 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%.
Technology growth, the significance of data analytics in decision making, and consumers' inclination towards local shopping are some factors contributing to this anticipatory growth. The sector is likely to see trends like investing in pioneering technology, leveraging in-store automation to expedite retail shopping, exploring investments in interactive vending machine technology, employing robots for cost reduction and productivity enhancement, investing in drone delivery for faster and cost-effective delivery, catering to diverse food preferences to escalate revenues, utilizing smart shelf technology to enhance customer shopping experiences, and partnering with e-commerce entities for expedited delivery services during the forecast period.
What Are The Core Factors Supporting Growth In Retail Market?
Numerous retailers are implementing a comprehensive and integrated approach to manage data analytics. They are employing this technology to improve efficiency in supply chains, streamline operations for customer engagement, and foster loyalty. Data now plays an essential role in the majority of retail activities. Given the fast-paced expansion in retail data and the accessibility of technologies to scrutinize this data, it should become more straightforward for retailers to pinpoint and fulfill the needs and anticipations of their clientele. This is projected to propel the market in the future.
What Are The Principal Market Segments In The Global Retail Healthcare Industry?
The retail market covered in this report is segmented –
1) By Type: 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, Ecommerce And Other Non-Store Retailers, Building Material and Garden Equipment and Supplies Dealers, Pharmacies and Healthcare Stores, Sporting Goods, Hobby, Musical Instrument, and Book Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By Distribution Channel: Supermarkets/Hypermarkets, Convienience Stores, Department Stores, Specialty Stores, Online, Other Distribution Channels
Subsegments:
1) By Motor Vehicle And Parts Dealers: New Car Dealers, Used Car Dealers, Automotive Parts, Accessories, And Tire Stores
2) By Food And Beverage Stores: Grocery Stores, Specialty Food Stores, Wine And Liquor Stores
3) By Gasoline Stations: Convenience Stores With Gasoline, Traditional Gasoline Stations
4) By Miscellaneous Store Retailers: Florists, Pet Supply Stores, Office Supply Stores, Cosmetics And Personal Care Stores
5) Cosmetics And Personal Care Stores: Perfume Shops
6) By Clothing And Clothing Accessories Stores: Men's Clothing Stores, Women's Clothing Stores, Children's Clothing Stores, Shoe Stores, Jewelry Stores
7) By Electronics And Appliance Stores: Consumer Electronics Stores, Major Appliance Stores
8) By Furniture And Home Furnishings Stores: Furniture Stores, Home Furnishing Stores
9) By Supermarkets And Hypermarkets: Large Grocery Chains, Warehouse Clubs, Convenience, Mom And Pop Stores
10) By Others: Convenience Stores, Full-Line Department Stores, Discount Department Stores, Online Retailers, Mail-Order Retailers, Hardware Stores, Garden Centers, Retail Pharmacies, Health And Wellness Stores, Sporting Goods Stores, Hobby Shops, Musical Instrument Stores, Bookstores
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Which Emerging Market Trends Are Altering The Retail Market?
The sectors of retail and online commerce are progressively directing their resources towards drone utilization to expedite delivery timelines and enhance returns. Drones, also known as unmanned aerial vehicles (UAVs), can be operated remotely or are automated to fly autonomously with the help of software-driven flight plans incorporated in their systems. Incorporating drones into the delivery ecosystem enables retail businesses to reduce expenses and expedite the arrival of products to customers compared to traditional delivery modes. A case in point is Amazon’s introduction of Prime Air deliveries using drones, which pledge to complete deliveries within a half-hour timeframe. Although Amazon has initiated drone delivery pilot schemes in the UK, it remains in the queue for official authorization in the US.
Who Are the Key Players in the Retail Market?
Major companies operating in the retail market include:
• Walmart Inc.
• Amazon.com. Inc.
• CVS Health Corporation
• Costco Wholesale Corporation
• Schwarz Group
• The Kroger Company
• Walgreens Boots Alliance. Inc.
• The Home Depot. Inc.
• Carrefour S.A.
• Target Corporation
• Nice Tuan
• Bianlifeng
• Suning.com
• Seven-Eleven
• Lawson
• Family Mart
• Ministop
• V-Mart Retail
• Infiniti Retail Ltd
• Uniqlo
• Muji
• JB Hi-Fi
• Auchan Holding SA
• SPAR
• Tesco
• Metro AG
• Musgrave
• Sainsbury's
• Aldi GmbH & Co. KG
• Co-operative Group Limited
• McColl's
• Wm Morrison Supermarkets plc
• Waitrose & Partners
• Groupe Casino
• Marks and Spencer Group plc
• Mercadona
• Rewe Group
• Asda Stores Ltd.
• X5 Retail Group
• Magnit
• Profi
• Lenta
• Dixy Group
• Stokrotka Sp. z o.o.
• Perekrestok Express
• O’Key Group
• Globus
• Zabka
• Spolem
• Groszek
• Eurocash
• Staples
• Office Depot
• Sportsman's Warehouse Holdings Inc.
• Empire Company Ltd.
• Yesway
• Alimentation Couche-Tard
• Casey's General Stores
• Love's Travel Stops & Country Stores
• Marathon Petroleum Corporation
• Cencosud
• Makro Atacadista S.A.
• LojasAmericanas
• Grupo Pão de Açúca
• RaízenConveniências
• Cia Brasileira de Distribuicao (GPA)
• Majid Al Futtaim
• AlHokair Fashion Retail
• Azadea Group
• Savola
• Almeera Group
• Al Madina Group
• Lulu
• Al Tayer Group
• Circle K
• Choppies (South Africa)
• Massmart
• Woolworths Holdings Limited
• FreshStop
• Pick n Pay
• Shoprite
• Freshzo Foods
• Food Lover’s.
What are the Regional Insights into the Retail Market?
Asia-Pacific was the largest region in the retail market in 2024. North America was the second-largest region in the retail market. The regions covered in the retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
