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The global market for retail reached approximately USD 23 trillion in 2023. The market is expected to grow at a CAGR of 5.8% in the forecast period of 2024-2032, to reach a value of USD 38.2 trillion in 2032.
Rising E-commerce Retail Sales
As per retail industry analysis, during 2019 and 2025, global retail e-commerce sales are projected to experience significant growth, rising from USD 3.351 trillion in 2019 to an estimated USD 7.385 trillion in 2025. This growth underscores the increasing consumer preference for online shopping. The annual percentage change in retail e-commerce sales peaked in 2020 at 25.7% and this surge is largely attributed to the COVID-19 pandemic, which accelerated the shift towards online shopping as lockdowns and social distancing measures limited access to physical stores.
As per the retail industry statistics, in 2021, e-commerce sales grew to USD 4.921 trillion, accounting for 19.6% of total retail sales. The diversification of product offerings and the ability to cater to personalized consumer preferences have made e-commerce platforms increasingly attractive.
The volume of real-time mobile transactions has surged significantly which positively affects the market. As of 2024, India leads this trend with a staggering 48.6 billion real-time mobile transactions, highlighting its rapid adoption of digital payment technologies, which makes it one of the largest retail markets in the world. This dominance is attributed to the widespread use of the Unified Payments Interface (UPI), a government-backed platform that facilitates instant payments between bank accounts via mobile devices. China follows with 18.5 billion real-time mobile transaction, driven by its highly advanced and ubiquitous mobile payment systems. Platforms like Alipay and WeChat Pay dominate the market, offering seamless and integrated payment solutions.
Thailand ranks third with 9.7 billion real-time mobile transactions, reflecting the country's increasing digital payment adoption. As per the retail industry analysis, Brazil and South Korea also exhibit significant volumes of real-time mobile transactions, with 8.6 billion and 7.3 billion transactions, respectively. In Brazil, the introduction of Pix, a real-time payment system launched by the Central Bank of Brazil, has revolutionized the payment landscape by enabling instant, 24/7 transactions.
Retail Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Retail Market Analysis
8.1 Key Industry Highlights
8.2 Global Retail Historical Market (2018-2023)
8.3 Global Retail Market Forecast (2024-2032)
8.4 Global Retail Market by Product
8.4.1 Food, Beverage, and Grocery
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Personal and Household Care
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Apparel, Footwear, and Accessories
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Furniture and Home Décor
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Toys, Hobby, and Household Appliances
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Industrial and Automotive
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Electronic, Consumer Durables and IT
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
8.4.8 Pharmaceuticals
8.4.8.1 Historical Trend (2018-2023)
8.4.8.2 Forecast Trend (2024-2032)
8.4.9 Others
8.5 Global Retail Market by Sector
8.5.1 Organised
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Unorganised
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Retail Market by Distribution Channel
8.6.1 Supermarkets and Hypermarkets
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Convenience Stores
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Speciality Stores
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Online
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Retail Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Retail Market Analysis
9.1 Market by Product
9.2 Market by Sector
9.3 Market by Distribution Channel
9.4 Market by Country
9.4.1 United States of America
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Canada
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
10 Europe Retail Market Analysis
10.1 Market by Product
10.2 Market by Sector
10.3 Market by Distribution Channel
10.4 Market by Country
10.4.1 United Kingdom
10.4.1.1 Historical Trend (2018-2023)
10.4.1.2 Forecast Trend (2024-2032)
10.4.2 Germany
10.4.2.1 Historical Trend (2018-2023)
10.4.2.2 Forecast Trend (2024-2032)
10.4.3 France
10.4.3.1 Historical Trend (2018-2023)
10.4.3.2 Forecast Trend (2024-2032)
10.4.4 Italy
10.4.4.1 Historical Trend (2018-2023)
10.4.4.2 Forecast Trend (2024-2032)
10.4.5 Others
11 Asia Pacific Retail Market Analysis
11.1 Market by Product
11.2 Market by Sector
11.3 Market by Distribution Channel
11.4 Market by Country
11.4.1 China
11.4.1.1 Historical Trend (2018-2023)
11.4.1.2 Forecast Trend (2024-2032)
11.4.2 Japan
11.4.2.1 Historical Trend (2018-2023)
11.4.2.2 Forecast Trend (2024-2032)
11.4.3 India
11.4.3.1 Historical Trend (2018-2023)
11.4.3.2 Forecast Trend (2024-2032)
11.4.4 ASEAN
11.4.4.1 Historical Trend (2018-2023)
11.4.4.2 Forecast Trend (2024-2032)
11.4.5 South Korea
11.4.5.1 Historical Trend (2018-2023)
11.4.5.2 Forecast Trend (2024-2032)
11.4.6 Australia
11.4.6.1 Historical Trend (2018-2023)
11.4.6.2 Forecast Trend (2024-2032)
11.4.7 Others
12 Latin America Retail Market Analysis
12.1 Market by Product
12.2 Market by Sector
12.3 Market by Distribution Channel
12.4 Market by Country
12.4.1 Brazil
12.4.1.1 Historical Trend (2018-2023)
12.4.1.2 Forecast Trend (2024-2032)
12.4.2 Argentina
12.4.2.1 Historical Trend (2018-2023)
12.4.2.2 Forecast Trend (2024-2032)
12.4.3 Mexico
12.4.3.1 Historical Trend (2018-2023)
12.4.3.2 Forecast Trend (2024-2032)
12.4.4 Others
13 Middle East and Africa Retail Market Analysis
13.1 Market by Product
13.2 Market by Sector
13.3 Market by Distribution Channel
13.4 Market by Country
13.4.1 Saudi Arabia
13.4.1.1 Historical Trend (2018-2023)
13.4.1.2 Forecast Trend (2024-2032)
13.4.2 United Arab Emirates
13.4.2.1 Historical Trend (2018-2023)
13.4.2.2 Forecast Trend (2024-2032)
13.4.3 Nigeria
13.4.3.1 Historical Trend (2018-2023)
13.4.3.2 Forecast Trend (2024-2032)
13.4.4 South Africa
13.4.4.1 Historical Trend (2018-2023)
13.4.4.2 Forecast Trend (2024-2032)
13.4.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Walmart Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Amazon.com, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Costco Wholesale Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 The Home Depot, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 JD.com, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 The Kroger Co.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Walgreens Boots Alliance, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Alibaba Group Holding Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Target Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Lowe's Companies, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 The Schwarz Group
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Koninklijke Ahold Delhaize N.V.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Carrefour Group
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Auchan Retail International
15.2.14.1 Company Overview
15.2.14.2 Product Portfolio
15.2.14.3 Demographic Reach and Achievements
15.2.14.4 Certifications
15.2.15 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Retail Market: Key Industry Highlights, 2018 and 2032
2. Global Retail Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Retail Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Retail Historical Market: Breakup by Sector (USD Million), 2018-2023
5. Global Retail Market Forecast: Breakup by Sector (USD Million), 2024-2032
6. Global Retail Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
7. Global Retail Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
8. Global Retail Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Retail Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Retail Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Retail Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Retail Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Retail Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Retail Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Retail Market Structure
In 2023, the global retail market attained a value of nearly USD 23 trillion.
The major market drivers are the rising population, growing smartphone penetration, and the ever-increasing usage of the internet across the globe.
The key trends in the market are rapid technological innovations and increasing popularity of augmented reality among retailers.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products considered in the market report include food, beverage and grocery, personal and household care, apparel, footwear, and accessories, furniture and home décor, toys, hobby, and household appliances, industrial and automotive, electronic, consumer durables and IT, and pharmaceuticals, among others.
The different segments based on sector considered in the market report include organised and unorganised.
The various distribution channels in the market include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major players in the market are Walmart Inc., Amazon.com, Inc., Costco Wholesale Corporation, The Home Depot, Inc., JD.com, Inc., The Kroger Co., Walgreens Boots Alliance, Inc., Alibaba Group Holding Limited, Target Corporation, Lowe's Companies, Inc., The Schwarz Group, Koninklijke Ahold Delhaize N.V., Carrefour Group, and Auchan Retail International, among others.
Retail refers to the process of selling consumer goods or services through various channels of distribution to satisfy the demand of consumers.
Market segmentation refers to dividing the market into sub-categories depending on consumer behaviour and needs.
The sale of goods and services to the consumers is the main concept of retail market.
The Asia Pacific holds the largest market share.
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 38.2 trillion by 2032.
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