Analysis of global retail industry: An overview of changing trends

The global market of retail is growing since last decade inspite of the turbulent economic conditions and varying consumption patterns. The total retail sales have risen by at least 6.7% every year 2010 to 2016 leading to the highest increase of $22.5 Trillion over the last few years. Results of various researches and survey enlightens that the global retail sales have paved way to the future with more demand in India, China and Latin America. According to an estimate China may overtake the United States of America as the world's largest consumer by the year 2025, followed by United Kingdom, Japan and Germany.

These five countries symbolize the largest retail segments. The five leading players are historically great industrial powers with very high standards of living. China makes up for its relatively low standard of living of $13, 000 PPP per capita versus $54, 000 PPP per capita in the U.S., with an increasing large consumer base.

Purpose of this paper is to highlight the changes in Global Retail Market which is undergoing and bringing an increasing economic growth.