In 2014, many e-commerce
retailers started offline stores. Birchbox, an e-commerce store opened its
first physical store in Soho and companies like Bonobos and Warby Parker
doubled the number of their brick and mortar stores in 2014. E-commerce
retailers setting up offline stores are good news for brick and mortar concept
because it validates the need for physical stores.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL RETAIL
& WHOLESALE MARKET
TO GROW TO $41.5 TRILLION BY 2021
Asia Pacific was the largest
region in the retail and wholesale market in 2017, accounting for almost one-third
of the market share.
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The chart below shows the year-on-year growth of the global retail and
wholesale market during 2017 - 2021
According to The Business Research Company’s Consultant, Nitin
Gianchandani, innovations in automation technology are on the rise and retail
stores are increasingly using in-store automation to streamline retail
shopping. Automation in retail stores is aimed at automating store operations
such as container movement, merchandise scanning, inventory checking,
retrieving, packaging, and delivering products, and connecting with customers.
Automation reduces waiting times, avoids stocking problems, enhances
productivity, and increases overall customer experience. For instance, American
retailer Lowe’s has installed multi-lingual, autonomous customer assistance
robots in 11 locations in San Francisco Bay area. Retailers are also focusing
on using self-checkout stands for customers. Walmart has patented a system of
self-driving shopping carts.
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at
Wal-Mart was the largest competitor in the retail and
wholesale market in 2017, with revenues of $485.9 billion for the
financial year 2017. Wal-Mart’s strategy is to invest to differentiate on
access, be competitive on assortment and deliver a great experience. Since
retail environment is more competitive today with e-commerce, the company
intends to focus on its e-commerce segment.
The retail market provides 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.
The wholesale market comprises
establishments in wholesaling merchandise and rendering services after the sale
of merchandise. Wholesale trade comprises purchasing, storing and selling the
goods to retailers, professional authorities or to other wholesalers.
Retail And Wholesale Global Market
Report 2018 is a detailed report giving a unique insight into this market. The
report is priced at $8000 for an individual user. To use across your office,
the price is $12000 and $160000 if you wish to use across a multinational
company.
About The Business Research Company
The Business Research Company is a
market research and intelligence company, which excels in company, market and
consumer research.
It has research professionals at its
offices in the UK, India and the US as well a network of trained researchers
globally. It has specialist consultants in a wide range of industries including
manufacturing, healthcare, chemicals and technology.
The Business Research Company's
management has more than 20 years of varied business research experience. They
have delivered hundreds of research projects to the senior management of some
of the world's largest organizations.
Contact Information.
The
Business Research Company
Europe:
+44 207 1930 708
Asia:
+91 8897263534
Americas:
+1 315 623 0293
Email:
info@tbrc.info
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