Retail sales hit a record of $6 trillion in 2018, according to the U.S. Census. That's better than the pre-recession high of $4.4 trillion spent in 2007. It's also a 50% increase from 2009's record low of $4.06 trillion.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Trends
- Industry Challenges
- Technology Trends
- Pricing Trends
- Regulatory Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Retail sales occurs when a business sells a product or services to the individual consumer for personal use. The transaction itself can occur through a number of different sales channel such as online, in a brick and mortar storefront, through direct sales or direct mail.
The term retailer is typically applied where a service provider fills the small order of a large individual, who are end users, rather than large orders of a small number of wholesale, corporate or government client. Shopping generally refers to the act of buying products.
Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in a purchase.
Retailing regularly happens in retail locations or administration foundations, however may likewise happen through direct selling, for example, through vending machines, door-to-door sales or electronic channels. Despite the fact that retail is regularly connected with the buy of merchandise, the term might be connected to specialist organizations that pitch to buyers.
Retail specialist organizations incorporate retail banking, the travel industry, protection, private medicinal services, private schooling, private security firms, legitimate firms, publishers, public transport and others.
For instance, a travel industry supplier may have a retail division that books travel and convenience for buyers in addition to a discount division that buys squares of settlement, friendliness, transport and touring which are therefore bundled into a holiday tour available to be purchased to retail travel specialists.
Some retailers badge their stores as "wholesale outlets" offering "wholesale prices." While this practice may encourage consumers to imagine that they have access to lower prices, while being prepared to trade-off reduced prices for cramped in-store environments, in a strict legal sense, store that sells the majority of its merchandise direct to consumers, is defined as a retailer rather than a wholesaler. Different jurisdictions set parameters for the ratio of consumer to business sales that define a retail business.
All the business that sells goods and services fall under the umbrella of retailing. Due to the increase of internet users, many online shop has been emerged as providing services to customers via internet. This is also known as online retailing. An online shop evokes the physical analogy of buying products or services at a regular "bricks-and-mortar" retailer or shopping center; the process is called business-to-consumer (B2C) online shopping.
When an online store is set up to enable businesses to buy from another businesses, the process is called business-to-business (B2B) online shopping. A typical online store enables the customer to browse the firm's range of products and services, view photos or images of the products, along with information about the product specifications, features and prices.
Online stores typically enable shoppers to use "search" features to find specific models, brands or items. Online customers must have access to the Internet and a valid method of payment in order to complete a transaction, such as a credit card, an Internet-enabled debit card, or a service such as PayPal. For physical products (e.g., paperback books or clothes), the e-tailer ships the products to the customer; for digital products, such as digital audio files of songs or software, the e-tailer typically sends the file to the customer over the Internet.
The largest of these online retailing corporations are Alibaba, Amazon.com, and eBay.