Retail And Wholesale Industry Forecast 2023-2032: Market Growth Rate, Major Driver, And Leading Regions, By The Global Market Model From TBRC

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Aug 29, 2023, 10:31 ET

A Comprehensive Global Retail And Wholesale Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

LONDON, Aug. 29, 2023 /PRNewswire/ -- The 2023 retail and wholesale industry analysis by the global market model shows a consistent outlook compared to the previous projection until the close of 2022. Our earlier forecast update had already considered elements like inflation, economic challenges, the repercussions of the Russia-Ukraine conflict, and disturbances in the supply chain, all of which contributed to elevated consumer costs. As a result, our predictions for this market have remained unchanged in this update phase. Notably, there has been a noteworthy shift in consumer purchasing behaviors across various platforms, with brick-and-mortar stores experiencing better-than-expected sales and e-commerce sales falling below initial projections.

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Retail and wholesale industry growth potential

In 2022, the worldwide retail and wholesale market achieved a valuation of $72,353 billion, encompassing a substantial 72.2% of the global GDP.

Forecasts indicate that the market will exhibit a compound annual growth rate (CAGR) of 7.1% from 2022 to 2032. The progress of technology, including innovations like self-checkout systems, beacons, robotics, automation, and augmented reality, is anticipated to be a major driving force behind market expansion throughout the projected period.

Top segments and region retail and wholesale companies should focus

Within the retail and wholesale sector, the wholesale market emerged as the most substantial segment, constituting 63.5% of the complete market share in 2022. The United States held the prominent position in the retail and wholesale domain, contributing to 23.1% of the overall market share in the same year.

The Global Market Model provides insights on the following key industry indicators in the retail and wholesale industry:

Number of retail stores
Number of enterprises
Number of employees

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SOURCE The Business Research Company