The Business Research Company’s Retail Global Market Report 2021: COVID-19 Impact And Recovery To 2031
LONDON, GREATER LONDON, UK, January 11, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
As per The Business Research Company’s latest report Retail Global Market Report 2021: COVID-19 Impact And Recovery To 2031, the global retail market is expected to grow from $20.2 trillion in 2020 to $22.4 trillion in 2021 at a compound annual growth rate (CAGR) of 10.5%. 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 market is then expected to reach nearly $30 billion in 2025 at a CAGR of more than 7%.
Many retailers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers and building loyalty, data has become critical for most retail operations. With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for retailers to identify and meet the needs and expectations of their customers. Thus, it is expected to drive the market going forward.
Read More On The Global Retail Market Report Here: https://www.thebusinessresearchcompany.com/report/retail-global-market-report-2020-30-covid-19-impact-and-recovery
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. Retailing involves buying from wholesalers or direct from producers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery.
Wholesalers are independent organizations in the distribution channel that buy in bulk and sell to resellers rather than to consumers. Both retailers and wholesalers take ownership of the goods and so bear the risk of carrying inventory. They also reduce the total number of transactions required for the process of transferring goods from producers to consumers.
Major players in the retail global market include Wal-Mart, Costco, Kroger, Amazon Inc, and Home Depot.
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Here Is A List Of Similar Reports By The Business Research Company:
Global Convenience, Mom And Pop Stores Market – By Type (Convenience Stores, Mom And Pop Stores), By Ownership (Retail Chain, Independent Stores), And By Region, Opportunities And Strategies – Global Forecast To 2030 (https://www.thebusinessresearchcompany.com/report/convenience-mom-and-pop-stores-market)
Ecommerce & Other Non-Store Retailers Global Market Report 2021: COVID-19 Impact And Recovery To 2031
Retail And Wholesale Global Market Report 2021: COVID-19 Impact And Recovery To 2031 (https://www.thebusinessresearchcompany.com/report/retail-and-wholesale-global-market-report-2020-30-covid-19-impact-and-recovery)
E-Commerce Global Market Report 2020-30: Covid 19 Implications And Growth (https://www.thebusinessresearchcompany.com/report/e-commerce-global-market-report-2020-30-covid-19-implications-and-growth)
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The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.