Retail Global Market Sees Growth Rate Of 11% Through 2022

The global retail market size is expected to grow from $23.65 trillion in 2021 to $26.33 trillion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The global retail market size is expected to grow to $38.71 trillion in 2026 at a CAGR of 10.1%.

What is the Global Retail Market?

The retail market consists of sales of goods to ultimate users by entities (organizations, sole traders, and partnerships) that provide the service of making goods available in convenient quantities and locations. Retailing involves buying from wholesalers or direct from producers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery. Wholesalers are independent organizations in the distribution channel that buy in bulk and sell to resellers rather than to consumers. Both retailers and wholesalers take ownership of the goods and so bear the risk of carrying inventory. They also reduce the total number of transactions required for the process of transferring goods from producers to consumers.

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What drives the Global Retail Market?

Many retailers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty, data has become critical for most retail operations. With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for retails to identify and meet the needs and expectations of their customers, thus it is expected to drive the market going forward

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Global Retail Market Segments
The global retail market is segmented:
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
By Ownership: Retail Chain, Independent Retailer
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Department Stores, Specialty Stores, Online, Others
By Geography: The regions covered in the retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Retail Global Market Report 2022provides market size and growth forecasts for the global retail market, global retail market share, retail market segments and geographies, retail market competitive landscape including leading competitors’ revenues, profiles and market shares. The retail market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Retail Industry Playersinclude Walmart Inc., Sinopec Limited, Amazon.com Inc, PetroChina Company Limited, CVS Health Corporation, Costco Wholesale Corp, The Kroger Co, McKesson Corporation, Walgreens Boots Alliance Inc, and JD.com Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.