Department Stores Market is segmented by product type (Apparel and Accessories, FMCG, Hardline, and Softline), by geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers market size and forecasts for the Global Department Stores Market in value (USD billion) for all the above segments.

Department stores have continued their long-term dip, with revenue falling amid shifting market dynamics. The industry's slump has been fueled by a 7.2% revenue drop in 2021 alone, caused by relatively low consumer confidence levels and high unemployment. Industry performance has been challenged by rising inflationary pressure since 2022 and the competitive presence of e-commerce rivals. Another rising trend is the increasing number of major retailers that have expanded their product ranges to include groceries, providing a heightened level of convenience. This transitions the revenue of these retailers to the Warehouse Clubs and Supercenters industry (IBISWorld report 45291), reducing industry participation. Revenue for department stores is expected to dip at a CAGR of 2.7% to $187.4 billion through the end of 2025, including a slump of 0.3% in 2025 alone, when profit will account for 3.7% of revenue. Online companies are increasingly undercutting traditional department store prices to save on operational costs. Companies with brick-and-mortar stores incur higher operational costs than online-based businesses because they pay for high-traffic retail space and require sales associates. Retailers have lowered selling prices and offered increased promotional deals to better compete. In April 2024, Nordstrom launched its digital Marketplace to expand its online presence and appeal to a wider audience. Through online platforms, retailers can offer a wider selection of brands, sizes and products. Similarly, department stores have since launched their digital stores and integrated them into their operations to provide an omnichannel shopping experience. While these efforts have helped retain some customers, profit has dropped because of inflationary pressures on the industry, resulting in retailers making more cost-cutting decisions, which has tempered declines. In the coming years, accelerating competition from e-commerce businesses and the transition of department stores to supercenters will continue to pressure revenue. Some department stores will shutter more locations. However, disposable income growth will help lessen these factors' blow on future revenue. Department stores like Macy's and Nordstrom will continue to benefit from strong brand recognition, particularly as older customers become more comfortable with online shopping. Investments in online platforms will pay off for retailers and help department stores be more competitive in a tough business landscape. Revenue for department stores is expected to slump at a CAGR of 0.2% to $185.1 billion through the end of 2030.

The Department Stores industry has suffered from reduced foot traffic and the growing threat from online-only retailers, which is why industry revenue has been declining. Wavering consumer sentiment and shifts in discretionary income are causing consumers to pivot their spending towards lower-priced online sellers. Rising internet connectivity and consumer reliance on smartphones have propelled online shopping activity and industry competition. Yet, these headwinds have yielded some positive results, like a push to revise legacy systems and strategies and become more digitally driven retailers. Industry revenue has modestly contracted by an annualised 0.8% over the five years through 2024-25, to $22.1 billion. This trend also includes a 3.6% downturn in revenue in 2024-25. Despite a bounce-back in tourism, cost-of-living pressures are poised to intensify, encouraging consumers to cut back on discretionary spending. The industry is highly concentrated, with the four heavyweights accounting for the bulk of industry demand, meaning internal competition is intense. This factor has prompted price wars and aggressive discounting strategies, especially among low- to mid-market department stores like Kmart, to win over customers. Speciality retailers in sectors like apparel, homewares, electronics and cosmetics have dealt with their own demand woes, spurring reformation in their sales strategies, for example by expanding their digital and customer service capabilities. In doing so, these retailers have increasingly stolen market share from department stores. Mounting competition has encouraged department store chains to rationalise their networks, which is why establishments have been trending downwards and profitability upwards. The Department Stores industry is set to shrink at a faster rate through 2029-30, as the results of rationalising strategies and a heavier focus on digital transformation come into effect. Online-only sellers, like Amazon, will continue expanding their offerings and after-sale services, raising competitive pressures. Improving consumer sentiment and rising discretionary income are set to offer some reprieve in demand for up-market department stores, but gains will be cut short by commonplace bargain-hunting habits. In turn, more department stores will focus on shrinking floor space, rationalising merchandise and enhancing online operations to maintain low prices favoured by consumers. The industry is projected to decline at an annualised 2.3% through 2029-30, to $19.6 billion.

By 2026, department stores and other general merchandise stores were forecast to reach a market size of 3.62 trillion U.S. dollars globally, an increase of over one trillion dollars from the estimated 2021 figures.

The struggling industry of department stores The restrictive measures such as lockdowns and the closure of non-essential businesses amid the coronavirus pandemic resulted in catastrophic outcomes for department stores. Many were forced to permanently close their stores, and some even filed for bankruptcy like J.C. Penney. Nonetheless, the industry is fighting back, as department stores and other general merchandise shops are adopting diverse technology besides e-commerce to enhance their supply chain efficiency and provide a more engaging experience with customers.

Use of Big Data in department stores In department stores, big data can be integrated through recommendation engines, trend forecasting, and price optimization. Recommendation engines can be used to predict customers' future purchases based on historical purchasing decisions. In contrast, trend forecasting can be used to predict trends and forecast demand. Lastly, big data can be used to help companies achieve optimum price points, allowing them to provide discounts, promotions, and other pricing initiatives in a more strategic way.

The global department store market, valued at approximately $850 billion in 2025, is projected to experience robust growth, with a Compound Annual Growth Rate (CAGR) exceeding 6% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing preference for experiential retail, where shopping becomes a leisure activity, is boosting foot traffic and sales. Department stores are uniquely positioned to capitalize on this trend by offering diverse product assortments, enhanced in-store experiences (e.g., personalized styling services, curated events), and seamless omnichannel integration. Secondly, the growing middle class in developing economies, particularly in Asia-Pacific, is fueling demand for a wider range of goods and services, contributing significantly to market expansion. Furthermore, strategic partnerships and collaborations between department stores and online retailers are enabling improved supply chain efficiency and increased market reach. However, the market faces challenges such as increasing competition from e-commerce giants, rising operational costs, and evolving consumer preferences. Department stores are actively mitigating these risks through digital transformation initiatives, loyalty programs, and focus on private label brands to enhance profitability and maintain a competitive edge. The market is segmented by product type (apparel & accessories, FMCG, hardline & softline), with apparel & accessories holding a significant share due to changing fashion trends and consumer demand. Regional variations exist, with North America and Asia-Pacific showing substantial growth potential driven by distinct consumer behaviors and market dynamics. The success of department stores in the coming years hinges on their adaptability and innovation. Companies like Macy's, Nordstrom, and Walmart are investing heavily in omnichannel strategies, personalized experiences, and data-driven decision-making to remain competitive. While challenges remain, the robust growth outlook for the department store market signifies substantial opportunities for established players and emerging entrants to capitalize on evolving consumer needs and preferences through strategic investments in technology, customer experience, and brand diversification. Effective inventory management, supply chain optimization, and a focus on sustainable practices will be critical for maintaining profitability and environmental responsibility. The market's future is likely to be characterized by a shift towards smaller, more specialized department store formats catering to niche consumer segments. Recent developments include: February 2023: Macy's launches PATTERN Beauty with the brand's extensive assortment of washes, treatments, styling tools, and more. As the brand's first-ever department store partner, PATTERN expands Macy's portfolio of hair care products, specifically in the curl category., January 2023: Marks and Spencer announced its nearly half-a-billion investment in bigger, better stores across the UK. The retailer's investment will generate over 3,400 new jobs across the country and aims to create a fit for the future M&S store estate and a seamless experience for its customers every time they shop.. Notable trends are: Increase in Retail E-Commerce Sales have the Negative Impact on Department Stores Market.

The Retail Industry Market is Segments by Product Type (Food, Beverage, and Grocery, Personal and Household Care, Apparel, Footwear and Accessories, and More), by Distribution Channel (Supermarkets/Hypermarkets, Convenience and Discount Stores, Specialty Stores, and More), and by Geography (North America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

The global department store market, while facing significant disruption from e-commerce, continues to demonstrate resilience and adaptability. The market's size in 2025 is estimated at $500 billion USD, showcasing a substantial presence despite challenges. A Compound Annual Growth Rate (CAGR) of 3% is projected from 2025 to 2033, indicating a steady, albeit moderate, growth trajectory. This growth is driven by several key factors: the ongoing appeal of the in-store shopping experience for certain demographics, strategic investments in omnichannel strategies by major players like Coppel, Grupo Elektra, and Liverpool, and a focus on experiential retail, including personalized services and curated events. The market is segmented by type (e.g., full-line, specialty) and application (e.g., apparel, home goods, cosmetics), with full-line department stores holding a larger market share due to their diversified product offerings. However, restraints include increasing competition from online retailers, rising operating costs, and shifts in consumer preferences towards more niche and specialized brands. Successfully navigating these challenges requires department stores to leverage technology for enhanced customer experiences, optimize inventory management, and cultivate strong brand loyalty. The North American market, particularly the United States and Mexico, is expected to remain a dominant force, fueled by established retail infrastructure and a sizable consumer base. Asia-Pacific, led by China and India's expanding middle class, presents a significant growth opportunity, although market penetration requires tailored strategies to cater to local preferences. European markets, while mature, offer potential for growth through strategic partnerships and expansion into niche segments. Successfully competing in this evolving landscape requires a nuanced understanding of regional consumer behaviors, economic conditions, and prevailing cultural trends. Investment in digital marketing and data-driven decision-making will be crucial for department store chains to maintain relevance and capture market share in the years to come. A proactive approach to sustainability and ethical sourcing will also enhance brand image and attract a growing segment of environmentally conscious consumers.

Global Department Stores market was valued at USD 120.21 billion in 2024 and is expected to grow to USD 203.11 billion by 2030 with a CAGR of 5.78% during the forecast period.

The global department store retailing market is a dynamic sector characterized by significant shifts in consumer behavior and technological advancements. While precise figures for market size and CAGR are absent from the provided data, a reasonable estimation can be made based on industry knowledge and publicly available information on similar retail sectors. Considering the presence of major players like Nordstrom, Macy's (implied by JCPenny and Kohl's presence), and international chains such as Falabella and Liverpool, the market size in 2025 could be estimated at approximately $500 billion USD. This is a conservative estimate, as the actual figure could be higher depending on the specific geographic scope of the analysis and inclusion of smaller regional players. Assuming a moderate growth trajectory reflective of the industry's challenges and opportunities, a compounded annual growth rate (CAGR) of 3-4% over the forecast period (2025-2033) seems plausible. Several key drivers, including the ongoing shift towards omnichannel retail strategies (integrating online and offline shopping experiences), personalized marketing, and the increasing demand for curated experiences within department stores, are expected to fuel market expansion. Conversely, restraints such as intense competition from e-commerce giants, changing consumer preferences towards fast fashion and specialized boutiques, and the rising costs associated with maintaining physical store infrastructure will present ongoing challenges. The market segmentation, likely encompassing factors like product category, price point, and geographic region, will play a key role in shaping competitive dynamics and investment strategies. The department store retail landscape is undergoing a significant transformation. The rise of e-commerce continues to challenge traditional brick-and-mortar stores, forcing them to innovate and adapt. Successful department stores are investing heavily in enhancing the in-store experience, focusing on personalized service, exclusive brands, and creating engaging events and pop-up shops to attract customers. Strategic partnerships and mergers and acquisitions are also expected to shape the competitive landscape in the coming years, as companies seek scale and efficiency in a rapidly changing market. The success of department stores will largely depend on their ability to effectively leverage technology, enhance customer experience, and optimize their supply chains to maintain profitability and competitiveness against both online and offline rivals. The successful integration of digital strategies, like robust online platforms and efficient delivery systems, alongside enhanced in-store experiences, will ultimately determine the winners and losers in this fiercely competitive market.

The Discount Department Stores industry has faced several disruptive trends in the last few years, notably surging competition both externally and internally. Online retailers and e-commerce giants like Amazon have emerged as formidable external competitors, leveraging the increasing convenience and comfort of online shopping. Simultaneously, competition within the industry has intensified, with aggressive pricing strategies, frequent promotions and the constant effort to enhance the in-store experience becoming crucial for differentiation. Overall, industry revenue is expected to have decreased at a CAGR of 2.2% to $102.1 billion in the current period, including an estimated drop of 2.3% in 2024 alone. Another trend impacting the industry has been the shift in consumer shopping patterns that has resulted from the rapid rise of online shopping. Traditional stores have had to invest heavily in digital transformation because of the popularity of online transactions, such as developing user-friendly websites and mobile apps that offer the ease of online purchasing and multiple payment options, among other features. Additionally, to combat the convenience of shopping via smartphone or laptop from anywhere, brick-and-mortar stores have had to enhance their shopping experience to retain in-store shoppers by focusing on personalized services and efficient operations. Looking ahead, discount department stores will continue to be significantly shaped by these trends. Competition will remain high, compelling stores to continually innovate and differentiate themselves from their rivals. This competitive environment will stifle profit and revenue growth, warranting strategic approaches centered not just around short-term gains but long-term, sustainable growth. However, even with expected improvements in economic conditions, the allure of a good deal is still a driving force for consumers. Their increasing digital fluency makes price comparison and deal-hunting easier, keeping demand for discounts high. Discount department stores can leverage this to their advantage by continuing to offer high-quality products at competitive prices. The challenges to the industry are expected to cause revenue to fall at a CAGR of 0.2% to an estimated $100.8 billion through the end of 2029.

The global department store retailing market is a dynamic landscape characterized by a complex interplay of factors influencing its growth trajectory. While precise figures for market size and CAGR aren't provided, industry analysis suggests a substantial market valued in the hundreds of billions of dollars globally in 2025. This sector's growth is driven by factors such as the increasing disposable incomes in developing economies, the rising preference for experiential retail, and the ongoing evolution of omnichannel strategies by major players. Trends like the incorporation of personalized shopping experiences, leveraging data analytics for improved customer service, and the strategic integration of e-commerce platforms are reshaping the competitive landscape. However, the market faces significant restraints, including the escalating popularity of online-only retailers, the persistent pressure on profit margins due to increasing operational costs, and the challenges of adapting to evolving consumer preferences in a rapidly changing retail environment. The market is segmented by application (clothing, toiletries, cosmetics, home appliances, and others) and store type (upscale, mid-range, discount, and others). Leading players like David Jones, Myer, Nordstrom, JCPenny, Kohl's, Dillard's, Hudson's Bay, Falabella, Lojas Riachuelo, and Liverpool are actively navigating these challenges and opportunities, constantly adapting their business models to maintain competitiveness. The geographic distribution of the market shows significant variations across regions. North America and Europe currently hold substantial market shares, driven by established retail infrastructure and high consumer spending. However, the Asia-Pacific region is projected to witness significant growth in the coming years, fueled by rapid economic expansion and a burgeoning middle class. The competitive dynamics are intense, with established players facing pressure from both online giants and emerging local brands. Success will hinge on the ability of department stores to offer unique value propositions, integrate seamless online and offline shopping experiences, and cultivate strong brand loyalty among consumers. A focus on sustainability and ethical sourcing will also play a crucial role in shaping future market trends. Therefore, companies that can adapt quickly and innovate will be best positioned to thrive in this ever-evolving retail sector.

Unpredictable trading conditions have challenged the Department Stores industry over the past few years. Retailers’ revenue hiked in 2020-21 thanks to solid consumer spending on discretionary items, including expensive items like furniture. Government stimulus expanded real household discretionary income, encouraging consumer spending. However, the end of pandemic-related government support has weakened real household discretionary income and consumer sentiment, which has tightened consumers’ budgets for non-essential items sold at department stores in recent years. High inflation has also pressured department stores. A few enterprises entered the industry when business confidence heightened in 2021-22 and 2023-24. However, existing companies, including well-established players, have downsized floor space, reduced store numbers or opted to permanently leave the industry in recent years amid high inflation. These cost-saving strategies have fundamentally shrunk the industry’s size, with declines in profit and wages echoing this trend. Department stores have suffered from reduced consumer spending, which has harmed revenue, contributing to an expected 3.0% fall through the end of 2025-26, to an estimated $6.1 billion. Department stores have faced intense competition from online-only and specialty retailers offering affordable prices or unique products. An emerging consumer preference for personalised experiences has challenged department stores as many have shown strength in providing various products to broad consumer groups. Department stores’ income is projected to drop 2.9% in 2025-26. In response, department stores have been improving operational efficiencies, which include closing unprofitable stores and consolidating operations. Department stores have adopted data-driven technologies and omnichannel strategies to strengthen digital selling amid consumers’ growing online shopping habits. These measures have elevated profitability in recent years. Revenue is forecast to rise by an annualised0.4%, totalling $6.3 billion, through the end of 2030-31. A projected climb in real household discretionary income and consumer sentiment are forecast to stimulate consumer spending in department stores. Still, department stores will face fierce internal and external competition from specialty retailers, including apparel, furniture, sporting goods and electronics stores. Department stores that attract consumer interest through an expanded social media presence and strong multi-channel strategies can strengthen customer engagement and sales.

Department Stores Retailing Market Outlook

The global department stores retailing market size was valued at approximately USD 550 billion in 2023, and it is projected to reach around USD 690 billion by 2032, with a compound annual growth rate (CAGR) of 2.5% during the forecast period. The growth of this market is being driven by several factors including the increasing disposable incomes of consumers worldwide, evolving consumer preferences, and technological advancements in retailing. Furthermore, the resurgence of consumer confidence post-pandemic and the integration of online and offline retail experiences are also contributing significantly to this growth. This seamless integration of multiple shopping channels is enhancing customer experience, thus driving the market forward.

One of the primary growth factors of the department stores retailing market is the increasing disposable incomes among consumers, particularly in emerging economies. As wages have risen and employment rates have improved, consumers have more financial flexibility to spend on discretionary items available in department stores. This has led to an upsurge in demand for luxury and branded products, which has been capitalized upon by department stores through strategic marketing and stocking of premium items. Additionally, the global trend towards urbanization has brought more consumers within the reach of department stores, further aiding market growth. As urban dwellers often have higher income levels and more varied shopping preferences, department stores are well-positioned to cater to these diverse consumer needs.

Another significant driver of growth is the technological advancements that have permeated the retail industry. Department stores are increasingly leveraging digital technologies to enhance their operations and customer service capabilities. The adoption of data analytics is allowing these stores to better understand consumer behavior and personalize the shopping experience, while augmented reality (AR) and virtual reality (VR) are being used to create immersive shopping experiences. Furthermore, the integration of mobile payment systems and self-checkout options has improved the convenience of shopping, attracting tech-savvy consumers. These technological integrations not only streamline operations but also improve customer engagement and satisfaction, resulting in higher sales and customer retention.

The convergence of online and offline retail channels, often termed as 'omnichannel retailing', is another critical factor contributing to the growth of the department stores retailing market. Consumers today expect a seamless shopping experience, whether they are browsing online or shopping in-store. Many department stores have successfully implemented omnichannel strategies that provide customers with a unified shopping experience across various platforms. This includes features like 'buy online, pick up in store' (BOPIS) and tailored marketing communications across all channels. By offering a cohesive experience, department stores are able to attract a wider customer base and enhance customer loyalty, driving further market growth.

Retail Store Mannequins play a pivotal role in the department stores retailing market by enhancing the visual merchandising strategies employed by these stores. As consumers are often drawn to the aesthetic appeal of a store's display, mannequins serve as a crucial tool in showcasing the latest fashion trends and enticing customers to explore the apparel sections. They help in creating an engaging shopping environment, allowing customers to visualize how garments might look on them, thereby influencing purchasing decisions. With the rise of experiential retailing, the use of mannequins has evolved, with many stores opting for customizable and interactive mannequins that can adapt to different themes and seasons. This innovation not only attracts foot traffic but also enhances the overall shopping experience, making it a vital component in the competitive landscape of department store retailing.

Product Category Analysis

The department stores retailing market is segmented into various product categories, including apparel, home goods, electronics, beauty and personal care, among others. Apparel remains one of the most significant product categories for department stores, driven by continuous demand for both formal and casual wear. The growth in this segment is propelled by evolving fashion trends and the increasing influence of social medi

The global department store market, valued at $546.63 million in 2025, is projected to experience steady growth, driven primarily by the increasing preference for omnichannel shopping experiences and the continued appeal of curated product assortments across various categories. Consumers value the convenience of browsing diverse product lines under one roof, ranging from apparel and footwear to home goods, electronics, and cosmetics. This integrated shopping experience, coupled with loyalty programs and personalized services offered by major players like Walmart, Costco, and Target, contributes significantly to market stability. However, the sector faces challenges from the rise of e-commerce giants and the increasing popularity of specialized retailers. To maintain competitiveness, department stores are investing heavily in digital transformation, enhancing their online presence, and integrating online and offline operations seamlessly. This includes initiatives like improved website design, robust mobile apps, click-and-collect options, and personalized marketing strategies. The expansion into new markets, particularly in rapidly developing economies in Asia and the Middle East, also presents significant growth opportunities for department stores. Strategic acquisitions and partnerships are key strategies adopted by leading players to increase market penetration and expand their product portfolio. The segment analysis reveals that clothing and footwear remain the dominant category within the department store market, followed by home and kitchen appliances and bags, wallets, and luggage. The large-size segment holds a larger market share compared to the small-size segment, reflecting consumer demand for a wider array of products. Regional variations are also evident, with North America and Europe currently holding the largest market shares. However, Asia-Pacific presents significant untapped potential due to rising disposable incomes and changing consumer preferences. The competitive landscape is highly fragmented, with numerous established players and regional chains vying for market dominance. The long-term success of department stores will depend on their ability to adapt to evolving consumer behaviors, embrace digital technologies, and offer a compelling value proposition that differentiates them from online and specialized competitors.

Success.ai’s Retail Data for the Retail Sector in North America offers a comprehensive dataset designed to connect businesses with key players across the diverse retail industry. Covering everything from department stores and supermarkets to specialty shops and e-commerce platforms, this dataset provides verified contact details, business locations, and leadership profiles for retail companies in the United States, Canada, and Mexico.

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Department store revenue is expected to inch upwards at a compound annual rate of 1.9% over the five years through 2025. Department stores were once hailed as a one-stop shop and a shopper's favourite, but the retail landscape has changed. Department stores have been slow to keep up with what's in vogue and shoppers' need for instant gratification, losing sales to e-tailers and fast-fashion brands. Some department stores have successfully adopted new strategies to fend off competition, like rolling out in-house bars, cafes and restaurants for shoppers to rest and refuel or introducing beauty bars for a quick pick-me-up. Nonetheless, price competition remains intense as income pressures remain evident – with growth driven by price increases over buying more. In 2025, revenue is slated to remain steady at 0% growth to €227.4 billion. The average profit margin reached 9.4%, a dip from five years ago thanks to intense competition. Department store revenue is forecast to inch upwards at a compound annual rate of 4.7% over the five years through 2030 to €286.7 billion. Competition will remain fierce and department stores will need to adapt to survive. The outdated retail-only business model no longer resonates with mindful consumers, who crave experiences and community. Social media continues to become ever-more prevalent and the power of influencers will only grow, making social commerce a top priority. Sustainability has become more than just a buzzword, particularly in light of the European Parliament’s fight against fast fashion, so department stores will need to improve their green credentials to stay in demand. Meanwhile, demographic trends will push digitisation in department stores.

The Department Stores Market size was valued at USD 121.78 billion in 2023 and is projected to reach USD 172.50 billion by 2032, exhibiting a CAGR of 5.1 % during the forecasts period. A department store is a retail store or shopping mall that stocks a very wide variety of goods including apparel, shoes, accessories, personal care products, home products, electronics, and many others. They may comprise numerous departments to enhance the sales experience to match the consumers’ needs by selling different types of products under one roof. Department stores are thus considered a convenient shopping style by the customers in the sense that they provide one-stop shopping. The current tendencies in the industry are multi-channel retailing, spectacle retailing, target customer-segmented selective buying, and ecological purchasing, currents aimed at benefiting environmental conservation.

The best-known department stores are full-range retailers that offer clothing, textiles, household items and electronic devices as well as food in some cases. In recent years, department stores' sales have been subject to strong fluctuations, growing by an average of 2% per year between 2019 and 2024. For 2024, IBISWorld expects sales to fall by 4% to EUR 15.2 billion due to further store closures as part of the Galeria insolvency proceedings concluded at the end of July 2024. The fiercest competition for department stores are online retailers such as Amazon or other providers where consumers can order products online and have them delivered to their homes. The variety of products on offer on the Internet, which far exceeds the range offered by bricks-and-mortar department stores, is contributing to the fact that more and more consumers prefer to shop online. At the same time, the increasing turnover of online retailers is an indicator that customer footfall in city centres is continuously falling, which means fewer walk-in customers for sector players. Specialised retailers are also important competitors because they offer potential customers a wider selection in their respective areas than department stores and also have more knowledgeable staff due to their focus on one product group. In addition, department stores are losing some of their customers to shopping centres, which house the sales areas of various retailers, making them a kind of full-range retailer. Even after the coronavirus crisis has been overcome, competition from online retail is expected to continue to increase. IBISWorld therefore expects an average decline in sales of 2.6% per year over the next five years and industry sales of 13.3 billion euros in 2029. The number of industry players is also likely to decline due to strong competition.

A detailed dataset exploring the retail industry in 2025, including market size, store counts, revenue trends, AI integration, and consumer behavior across the US and globally.

Smart Retail Market is Segmented by Component (Hardware, Software, Services), Application (Inventory Management, Brand Protection, and More), Technology (Internet of Things, Artificial Intelligence and Machine Learning, and More), Retail Format (Hypermarkets and Supermarkets, Convenience Stores, and More), Deployment Mode (On-Premises, Cloud, Hybrid), and Geography. The Market Forecasts are Provided in Terms of Value (USD).