Brief Excerpt from Industry Overview Chapter:
Companies in this sector sell a wide range of products to consumers and businesses, from food and apparel to hardware, household goods, and office supplies. Major companies include Costco, Kroger, and Walmart (all based in the US), as well as ALDI (Germany), Carrefour (France), Schwarz (Germany), and Tesco (UK).
The internet and increasing consumer connectivity are transforming the retail sector, with physical stores losing market share to online operators. Even segments once assumed to be relatively safe from online competition, such as grocery and auto parts retail, are facing increasing competition from e-tailers (especially Amazon) and reimagining their businesses in response. In 2020, total US e-commerce sales were estimated at $861.1 billion, a 44% increase annually, which is higher than the 15% increase in 2019, according to DigitalCommerce 360. E-commerce is expected to grow to 21.3% of US retail sales in 2020 and is expected to reach about $860 billion by 2022, according to DigitalCommerce360.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major components of the retail sector include sellers of motor vehicles (1% of overall retail sales), food and beverages (less than 1%), drugs and cosmetics (10%), automotive fuels (14%), and women's apparel (3%).
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook