(EMAILWIRE.COM, December 18, 2018 ) The global retail and wholesale market, a part of the retail and wholesale industry, grew at a compound annual growth rate (CAGR) of around 4% during the historic period. The retail and wholesale industry showed a steady growth. This market has registered steady growth rate in the historic period due to growth in the emerging markets such as China and India. These populations increasingly shop in formal retail outlets or online, buying branded goods that are more expensive than those sold in traditional markets.
In the forecast period, the global retail and wholesale market size is expected to be over $40 trillion by 2021, growing at a CAGR of nearly 5%. Technology is expected to be a continued driver of market growth during this period. Areas of particular development are likely to be POS (point-of-sale) technology, beacons, Wearables, augmented reality and 3D printing. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global retail and wholesale market in the future.
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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.
Major companies in the retail and wholesale market, offering new technology include Wal-Mart Stores, McKesson, AmerisourceBergen Corporation, CVS Health Corporation, Costco, Kroger Co, Tesco PLC, Carrefour S.A, Cardinal Health, Amazon, The Home Depot Inc., Lidl Stiftung & Co. KG.
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