Retailers provide the service of making goods available to consumers in convenient quantities and locations. Retailing involves buying from wholesalers or direct from manufacturers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery.
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The global retail market is valued at around $25 trillion in 2017. The growing e-commerce and non-store retail is expected to drive the retail industry.
The retail market in The Business Research Company’s report is segmented into three segments, namely specialty retailers; department stores & other general merchandise stores and ecommerce & other non-store retailers. Specialist retailers segment accounts for less than three-fourth of the market share, the remaining share is attributed to the other two segments.
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The USA was the largest country in the retail market in 2017, accounting for one-fifth of the market share. This was mainly due to the large consumer population, as well as the prevalence of a large number of retailers in the country. The USA was followed by China and Japan as the next largest countries in the market.
Wal-Mart was the largest competitor in the retail market, followed by Costco and Kroger. Wal-Mart operates retail stores, restaurants, wholesale clubs, discount stores, hyper markets; supercenters apparel stores, retail websites and restaurants.
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