RETAIL INDUSTRY - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

 With shifting economic conditions around the world during the research period, the retail business has seen a number of changes. The COVID-19 epidemic caused the world economy, which had slowed in 2019 and 2019, to plummet in 2020, making for a difficult forecasting period for the retail sector. The retail sector is projected to demonstrate a gradual recovery during the first forecast period because the bulk of the industry's products are sensitive to economic cycles, but after the situation calms down, it is anticipated that client demand will drive the market.

The new way to shop is over the internet. With the increasing use of smartphones, other mobile devices, and internet services, e-commerce has become a significant global purchasing platform. In addition to other factors, the retail e-commerce business is fueled by an increase in the number of suppliers who offer their products online. In the next five years, the expansion of online fresh food sales and the increasing number of prepared meal delivery services entering this market may multiply the category's growth by several times.

The Chinese population's purchasing power has expanded significantly along with the steady growth of disposable incomes in rural and urban families. As a result, the retail industry has developed into one of the biggest and fastest-growing consumer marketplaces globally. The market is extremely competitive and varied, and during the past few years, the market shares of the top Chinese retail chains have been declining.

Major Players: Walmart, Amazon, Costco, Schwarz Group, Kroger

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