Overview & Evolution of the Global Retail Industry
The global retail sector is estimated to have achieved revenues of US$ 22.6 trillion in 2015 and should continue to rise to US$ 28 trillion by 2019, with average annual growth rate of 3.8% since 2008. The sector represents 31% of the world’s GDP and employs billions of people throughout the globe. Hyper and supermarkets account for 35% of retail direct sales with USA and China at the forefront. E-commerce is expected to show a CAGR of 23% between 2012 and 2019 in revenue and 12% for e-consumers. Mobile share in e-commerce reaches 29% in certain countries and has been growing fast but there is still room for growth, with desktops still representing the majority of devices used for online shopping. In terms of market trends, specific consumer behaviour such as over-connectivity and the pursuit of healthier lifestyles are expected to shape the market in coming years.
The report was produced using primary and secondary information, desk research and interviews with sector experts and associations.