Retail Market Report 2024: Industry Overview, Size, Share, Trends, Growth and Forecast Till 2032

The latest report by IMARC Group, titled “Retail Market Report by Product (Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobby, Electronic and Household Appliances, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032“, The global retail market size reached USD 28,514.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 46,304.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.54% during 2024-2032.

The retail sector comprises a diverse array of businesses that offer goods and services directly to consumers. This sector includes various formats such as physical stores, e-commerce websites, and vending machines. Retailers play an essential role in connecting producers with consumers, acting as the final link in the distribution chain. Ranging from large supermarket chains and department stores to small, niche boutiques, the retail industry is a vital element of the global economy. With technological advancements, online retail, or e-commerce, has become increasingly significant, providing consumers with unmatched convenience and a broader selection of products. Currently, retail is fundamental to economic growth and consumer satisfaction, contributing to both job creation and consumer expenditure.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/retail-market/requestsample

Retail Market Trends and Drivers:

The global retail market is largely influenced by the incorporation of digital technology into retail operations. This shift towards digitalization enables companies to offer consumers a more tailored and convenient shopping experience, thereby fostering customer loyalty and boosting sales. Moreover, the growing emphasis on sustainability, as consumers increasingly seek eco-friendly products and practices, has spurred market expansion. In response, retailers are implementing sustainable sourcing and operational strategies, minimizing waste, and creating environmentally friendly products. Additionally, globalization has resulted in a more interconnected marketplace, providing retailers with access to new markets and intensifying competition, which serves as another significant driver of growth.

Report Segmentation:

The report has segmented the market into the following categories:

Product Insights:

  • Food and Beverages
  • Personal and Household Care
  • Apparel, Footwear and Accessories
  • Furniture, Toys and Hobby
  • Electronic and Household Appliances
  • Others

Distribution Channel Insights:
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Stores
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Alibaba Group Holding Limited
  • Amazon.com Inc.
  • Auchan Retail International S.A.
  • Costco Wholesale Corporation
  • JD.com Inc.
  • Koninklijke Ahold Delhaize N.V.
  • Lowe's Companies Inc.
  • Target Corporation
  • The Home Depot Inc.
  • The Kroger Co.
  • The Schwarz Group
  • Walgreens Boots Alliance Inc.
  • Walmart Inc.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research. 

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