The retail market consists of sales of products to consumers by organisations that provide the service of creating goods available to consumers in convenient quantities and locations. Retailing consist of buying from wholesalers from direct from manufacturers, breaking bulk, displaying goods purchasable either physically or online, and sometimes delivery. Wholesalers are independent organizations within the channel that stock bulk and sell to resellers instead of to consumers. Both retailers and wholesalers take ownership of the products then bear the danger of carrying inventory. The wholesale market consists of sales by wholesalers. These organisations consisting of merchandise outputs of mining, manufacturing, agriculture, and certain information industries, like publishing. Wholesale trade comprises purchasing, storing and selling merchandise to retailers or to other wholesalers and providing related services like breaking bulk. This industry includes wholesale agents and brokers who arrange the acquisition or sale of the products owned by others, on a fee or commission basis. Wholesale industry also includes business to business electronic markets and platforms and agents which will facilitate for wholesale trade. The industries during this sector doesn’t own or handle the products they sell.
According to report, “Retail And Wholesale Global Market Report 2019” Some of the key players operating in the market are The Home Depot Inc., Carrefour S.A, Cardinal Health, Tesco PLC, CVS Health Corporation, McKesson, Kroger Co, AmerisourceBergen Corporation, Costco, Amazon, Wal-Mart Stores, LidlStiftung and Co.
Based on type the wholesale and retail market is segmented into brick and mortar retail, motor vehicle and parts dealers, food and beverage stores, gasoline stations, miscellaneous store, retailers, health and personal care stores, clothing and clothing accessories stores, electronics and appliance stores, furniture and home furnishings stores, supermarkets and hypermarkets, convenience, department stores and other general merchandise stores ecommerce and other non-store retailers. Nowadays the e-commerce stores are also interested in setting up offline stores, automated store operations by using new technologies associated with big data analytics in retail and wholesale are the major trends witnessing rise in retail and wholesale market.
Digital retailing is transforming the in-store experience by leveraging technology which significantly enhances the customer experience. Digital retailing has accelerated the shopping experience thereby efficiently engaging in a seamless connectivity from website to showroom through different aspects of the deal. This has been widely accepted within the automotive industry. The wave of digital shopping poses a big threat to the brick-and-mortar formats of the retail industry, however no decline within the retail market in brick-and-mortar stores indicates the prevailing demand from customers for physical experience. Clothing and Clothing Accessories Stores include retail of latest clothing and clothing accessories from a hard and fast point-of-sale location. This industry comprises of jewellery, luggage, leather goods, clothing, and shoe stores. Electronics and Appliance Stores include retail of latest electronics and appliances from a point-of-sale location. The segment is usually operated from the locations that have provisions for floor displays and supply capacitance for demonstration of the products.
Based on geography market is segmented into North America, Europe, South America, Middle East and Africa, and Asia-Pacific. The Asia-Pacific region is key region driving the wholesale and retail market.
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Ankur Gupta, Head Marketing & Communications