RisingGDP growth, burgeoning population,greater disposable income, and increasing consumer spending are combining to drive the global retail industry and opportunities for retail segment players.The market is forecast to reach an estimated $20,002 billionin 2017 with a CAGR of 3.9% over the next six years (2012–2017).
Lucintel, a leading global Management Consulting and market research firm, has analyzed the global retailindustryand presents its findings in “Global Retail Industry Analysis 2012-2017: Industry Trend, Profit and Forecast Analysis.”
The retail industry comprises establishments engaged in selling merchandise or commodities for personal or household consumption, mainly consisting of apparel and accessories, technology, food and beverages, home improvement,specialty,pharmaceuticals, and others. Recently, as developed nations begin to emerge from recession, their economies recover, and unemployment rates begin to fall, the market segments are experiencing some renewed growth.
As indicated inLucintel’s study,the retail industry is highly fragmented and is dependent on macroeconomic factors such as GDP, disposable income, and consumer spending.Asia Pacific (APAC) dominates theindustry, representing 35% of the global market. The APAC retail industry is expected to drive the market and grow at the highest rate among all regions during the forecast period of 2012–2017.
The global economic recession, inflation, and high unemployment ratesare some of the challenges that are negatively affecting the retail industry. Conversely, some factors that are likely to boost sales in the industry includeurbanization,technological growth,increase in product demand and selection, and the continued popularity of online purchasing. A combination of factors such as demographics and consumer spending habits impacts market dynamics significantly.
This study provides a concise overview of the global retail industry. The report tracks seven market segments across four regions, North America, Europe, APAC, and Rest of World (ROW); thus, it tracks 28 segments of the global retail Industry. The scope of this study is limited to annual trends for past five years and forecasts for next six years, helping executives plan for their inventory and resources.
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