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Retail Global Market Report 2022

·4-min read

Major companies in the market include 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.

New York, June 01, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Retail Global Market Report 2022" -
com Inc.

The global retail market is expected to grow from $23,652.39 billion in 2021 to $26,326.38 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The market is expected to grow to $38,710.6 billion in 2026 at a compound annual growth rate (CAGR) of 10.1%.

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.

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 & other general merchandise stores, e-commerce & other non-store retailers, building material and garden equipment and supplies dealers, pharmacies and healthcare stores and sporting goods, hobby, musical instrument, and book stores. A bookstore is a location of business where the principal commodity for sale books. The ownership forms include wholesale/distribution chain and independent wholesalers that are distributed through supermarkets/hypermarkets, convenience stores, department stores, specialty stores, online and other distribution channels

Asia Pacific was the largest region in the retail market in 2021.North America was the second-largest region in the retail market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the retail market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021.

However, it is expected that the retail market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

The retail/e-commerce market is increasingly investing in drones to reduce delivery times and increase profitability.A drone is an unmanned aerial vehicle (UAV), that is remotely controlled or flies autonomously using software-controlled flight plans in their systems.

Using a drone for delivery allows retailers to cut costs and help in providing customers with their products earlier than traditional delivery methods.For example, Amazon has been investing in its Prime Air deliveries via drones, which claims to complete the delivery within 30 minutes.

Amazon has started delivery trials via drones in the UK but is still waiting for regulatory approval in the US.

The countries covered in the retail market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

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