Currently, most of the worlds top retail companies are located in the US and Europe, with more from the former. 3.3 Global Revenue and Growth Rate by Type . According to analysts projections, the retail industry growth rate for 2022 is 4.7 percentmore than two times slower than the previous year. A paid subscription is required for full access. As a Premium user you get access to the detailed source references and background information about this statistic. The global food & grocery retail market size was valued at USD 11,324.4 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 3.0% from 2022 to 2030. India is the world's fifth-largest global destination in the retail space. The retail market is segmented into motor vehicle and parts dealers; food and beverage stores; gasoline stations; miscellaneous store retailers; cosmetics and personal care stores; clothing and clothing accessories stores; electronics and appliance stores; furniture and home furnishings stores; supermarkets and hypermarkets; convenience, mom and pop stores; department stores & other general merchandise stores; ecommerce & other non-store retailers; building material and garden equipment and supplies dealers; pharmacies and healthcare stores and sporting goods, hobby, musical instrument, and book stores.Asia Pacific was the largest region in the global retail market, accounting for 35% of the market in 2020. Currently, most of the worlds top retail companies are located in the US and Europe, with more from the former. Chart. and over 1Mio. In 2021, the retail industry growth hit 12.1 percent, marking a massive rebound after it fell 2.8 percent in 2020, which experts attribute to a higher unwillingness by consumers to spend amid economic uncertainty. Despite the coronavirus pandemic, the. statistic alerts) please log in with your personal account. Global Rail Infrastructure Industry Research Report, Growth Trends and Competitive Analysis 2022-2028. If you are an admin, please authenticate by logging in again. An additional information release on 5 October 2022 will see the inclusion of more detailed results for the August 2022 reference period. By using our website, you agree to our privacy policy. The report also examines the issues, growth-promoting elements, barriers, and weaknesses that are anticipated to affect . Read more about this report - REQUEST FREE SAMPLE COPY IN PDF . Data via Global Market Insights (2021) The second-largest sector - corporate brands - showed the highest growth rate (5.5 percent year over year) of the top four sectors with $58.8 billion (21 percent) of the overall business, attributed to the staying power of name brands in today's challenging retail environment. In 2021, the retail industry growth hit 9.7 percent , marking a massive rebound after it fell 2.9 percent in 2020, which experts attribute to a higher unwillingness by consumers to spend amid economic uncertainty. are located in the US and Europe, with more from the former. Based on our analysis, the global market exhibited lower growth of -10.57% in 2020 compared to the average year-on-year growth during 2017-2019. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. - The global apparel retail industry is expected to generate total revenues of $1,416.4bn in 2017, representing a compound annual growth rate (CAGR) of 4.4% between 2013 and 2017. Euromonitor International is the leading provider of strategic market . 1.3.2 Men 1.3.3 Women 1.3.4 Children 1.4 Study Objectives 1.5 Years Considered 2 Global Growth Trends 2.1 Global Online Apparel Retailing Market Perspective (2017-2028) 2.2 Online Apparel . statistic alerts) please log in with your personal account. The market is expected to reach $29361.95 billion in 2025 at a CAGR of 7%.The retail market consists of sales of goods to ultimate users by entities (organizations, sole traders and partnerships) that provide the service of making goods available in convenient quantities and locations. research report is a professional and in-depth study on . Retail Industry is poised to grow at a CAGR of 4.5% by 2027, rising demand for the market as e-commerce has emerged as a major shopping platform in the world. No. are located in the US and Europe, with more from the former. of Pages: 126. By using our website, you agree to our privacy policy. The total retail sales have risen by at least 6.7% every year 2010 to 2016 leading to the highest increase of $22.5 Trillion over the last few years. grew three percent in 2020, thanks to a surge in ecommerce sales (32.4 percent). Currently, most of the. We estimate that revenues for the global fashion industry (apparel and footwear sectors) will contract by -27 to -30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021 (compared with the 2019 baseline figure). Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal, Show sources information A drone is an unmanned aerial vehicle (UAV), that is remotely controlled or flies autonomously using software-controlled flight plans in their systems. Last year Internet usage rose at a CAGR of 7.5 percent to 989 million and smartphone penetration reached 63.4 percent. Apr 13, 2022 In 2020, global retail sales fell by 2.9 percent as a result of the COVID-19 pandemic, bouncing back in 2021 with a growth of 9.7 percent Global retail sales were projected. Thriving E-Commerce Industry to Augment the Growth of the Global Retail Industry In 2026, the global retail industrys growth rate is forecast at 3.4 percentthe slowest growth rate from 2021 to 2026. Statista. Effectiveness Performance Chart. Despite the ongoing uncertainty over the COVID-19 pandemic, growth in global construction output will reach 5.7% in 2021, following the 2.4% drop in 2020. Learn more about how Statista can support your business. [126 Pages Report] Check for Discount on Global Rail Infrastructure Industry Research Report, . Total retail revenue for the 250 largest global retail companies reached $5.1 trillion in fiscal year 2020 (ending June 30, 2021), up 5.2% from the previous year, according to Deloitte's ". Indian organized retail is growing at the rate close to 20% reflecting the global trends in that as much as 50 retail organizations have positioned themselves in Fortune 500 companies. Start a business and design the life you want all in one place. It accounts for over 10% of the country's gross domestic product (GDP) and around eight% of the employment. Oberlo uses cookies to provide necessary site functionality and improve your experience. Indian retail market recovered from panemic lows and grew 10% yoy . The Global retail logistics market is anticipated to increase at a fundamental rate during the figure time period, somewhere in the range of 2022 to 2030. The food segment was the market's most lucrative in 2020, with total revenues of $7,176.6bn, equivalent to 73.6% of the market's overall value. Oberlo uses cookies to provide necessary site functionality and improve your experience. India currently has the 4th Largest retail market in the world. The largest retailer, Walmart, saw a turnover of more than half a trillion ($538.2 billion) in 2021, way ahead of its closest competitor and ecommerce giant Amazon. Despite the coronavirus pandemic, the. Overall, in the period from 2020 to 2026, the average annual retail industry growth rate is expected at approximately 4.3 percent as. It is also expected to continue growing over the next five years, with an estimated growth rate of about 6% per annum to reach about $130 billion by 2020 (United Nations 2014). Its expected to rise further to 3.5 percent in 2023. Currently, you are using a shared account. Register in seconds and access exclusive features. . Price: Single User License: US $ 5600 The largest retailer, Walmart, saw a turnover of more than half a trillion ($538.2 billion) in 2021, way ahead of its closest competitor and ecommerce giant Amazon. The rapid rate of growth in this industry is due to a number of factors. The market is expected to grow at a CAGR . Global Ecommerce Sales Growth (20212026), Ecommerce Share of Retail Sales (20212026), The Best Free Logo Makers: 17+ Tools to Create Your Own Logo. Looking forward, growth is expected to continue, albeit at a slower rate. Get full access to all features within our Corporate Solutions. The biggest drivers of the rising retail industry growth rate are the worlds largest retailers. "Projected Retail Sales Growth Worldwide from 2022 to 2025. The market is projected to grow from USD 5.84 billion in 2021 to USD 18.33 billion in 2028, growing at a CAGR of 17.7% in the 2021-2028 period. Overall, in the period from 2020 to 2026, the average annual retail industry growth rate is expected at approximately 4.3 percent as. In 2026, the global retail industrys growth rate is forecast at 3.4 percentthe slowest growth rate from 2021 to 2026. Amazon has started delivery trials via drones in the UK, but is still waiting for regulatory approval in the US.The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the retail market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. Purchase the Global Overview of the Wholesale and Retail Industry Global Briefings as part of our Industrial research for August 2022. The market is expected to further witness a healthy growth in the forecast period of 2022-2027. For the last 50 years, the world economy has benefited from a demographic boom that has contributed 1.8 percent to average annual global GDP increases, helping to generate an unprecedented level of growth. North America was the second largest region accounting for 29% of the global retail market. Looking forward, growth is expected to continue, albeit at a slower rate. Its expected to rise further to 3.5 percent in 2023. Global retail ecommerce sales will decelerate to a 16.5% growth rate in 2020 (down from 20.2% last year). Global Ecommerce Sales Growth (2020-2025) The global ecommerce growth rate for 2022 is forecast at 12.2 percent, bringing global ecommerce sales worldwide to $5.542 trillion. In comparison, 2021s growth rate was 15.5 percent. Retail and wholesale grew at a rate of 3.3 percent in . There are various factors driving the growth of global electronics retailing market such as increased penetration of 3G/4G internet with great speed across the globe along with the increasing market size of electronic gadget such as laptop, smart phones & tablets also the different attractive offers and services provided by different e-tailor market players are increasing its adoption across . Ops. Retailing involves buying from wholesalers or direct from producers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery. To study and analyze the global Instructor-led Language Training market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023. Retail Sector Revenue growth, reported quarterly and annually, high, low and average trends from 3 Q 2022 to 3 Q 2021 - CSIMarket At a Glance Growth Rates Revenue Operating Inc. Inc. Cont. 2023s retail industry growth forecast is just a fraction lower at 4.5 percent. That's a compound annual growth rate (CAGR) of 11.7%! Global Retail eCommerce Platform Market Report 2022 is spread across 144 pages and provides competitive landscape, information, growth, new demand and regional analysis details in this niche sector. At the same time, it represents a marked decline from the five years preceding that, when global retail sales grew between 5.7% and 7.5% each year. Using a drone for delivery allows retailers to cut costs and help in providing customers with their products earlier than traditional delivery methods. We anticipate a collective $3.914 trillion in ecommerce sales this year. facts. Use Ask Statista Research Service, Grocery market share in Great Britain 2017-2022, Leading 10 retailers in the United Kingdom (UK) 2022, Online retail sales in the United Kingdom (UK) 2012-2021, Retail sales value in Great Britain 2005-2021. The global retail basic banking system market size was estimated at US$6.754 billion in 2021, and a CAGR of 10.99% over the forecast period is expected to reach US$12.628 billion by 2027. 1.1.2 Auto Parts Store Software Industry Characteristics 1.1.3 Global and China Auto Parts Store Software Sales Volume and Growth Rate (2017-2028) 1.1.4 Global and China Auto Parts Store Software Production Value and Growth Rate . They also reduce the total number of transactions required for the process of transferring goods from producers to consumers. Overall, in the period from 2020 to 2026, the average annual retail industry growth rate is expected at approximately 4.3 percent as total retail sales worldwide rise from $24.7 trillion in 2020 to a projected $33.9 trillion in 2026. We define the Core Banking System (CBS) as the back-end system that processes day-to-day banking transactions and publishes updates to accounts and other financial records. 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