In 2020, global retail sales fell by 2.9 percent as a result of the COVID-19 pandemic, bouncing back in 2021 with a growth of 9.7 percent Global retail sales were projected to amount to around 27.3 trillion U.S. dollars by 2022, up from approximately 23.7 trillion U.S. dollars in 2020.

American retailers worldwide
As a result of globalization and various trade agreements between markets and countries, many retailers are capable of doing business on a global scale. Many of the world’s leading retailers are American companies. Walmart and Amazon are examples of such American retailers. The success of U.S. retailers can also be seen through their performance in online retail.

Retail in the U.S.
The domestic retail market in the United States is a lucrative market, in which many companies compete. Walmart, a retail chain offering low prices and a wide selection of products, is the leading retailer in the United States. Amazon, The Kroger Co., Costco, and Target are a selection of other leading U.S. retailers.

The global retail market size reached USD 30,092.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 48,867.9 Billion by 2033, exhibiting a growth rate (CAGR) of 5.26% during 2025-2033. There are various factors that are driving the market, which include the rising focus on personalized user experience, technological innovations, and various collaborations and partnerships among key players to expand their market reach and increase user engagement.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on product and distribution channel.

Key information about United States Retail Sales Growth

• United States Retail Sales grew 1.0 % YoY in May 2023, compared with a 1.6 % increase in the previous month.
• US Retail Sales Growth YoY data is updated monthly, available from Jan 1993 to May 2023, with an average growth rate of 4.7 %.
• The data reached an all-time high of 42.0 % in Apr 2021 and a record low of -15.8 % in Apr 2020.
• In the latest reports, Car Sales of US recorded 1,407,152.0 units in May 2023, representing a growth of 22.8 %.

Global retail sales were projected to amount to around 32.8 trillion U.S. dollars by 2026, up from approximately 26.4 trillion U.S. dollars in 2021. The retail industry encompasses the journey of a good or service. This typically starts with the manufacturing of a product and ends with said product being purchased by a consumer from a retailer. Retail establishments come in many forms such as grocery stores, restaurants, and bookstores.

American retailers worldwide
As a result of globalization and various trade agreements between markets and countries, many retailers are capable of doing business on a global scale. Many of the world’s leading retailers are American companies. Walmart and Amazon are examples of such American retailers. The success of U.S. retailers can also be seen through their performance in online retail.

Retail in the U.S.
The domestic retail market in the United States is a lucrative market, in which many companies compete. Walmart, a retail chain offering low prices and a wide selection of products, is the leading retailer in the United States. Amazon, The Kroger Co., Costco, and Target are a selection of other leading U.S. retailers.

Between June 2023 and June 2024, the quick service restaurant category had the highest sales growth of eight percent in the retail trade industry. In comparison, the sales growth for apparel and clothing was four percent in India during that year.

Retail Sales in the United States increased 0.20 percent in February of 2025 over the previous month. This dataset provides - U.S. December Retail Sales Increased More Than Forecast - actual values, historical data, forecast, chart, statistics, economic calendar and news.

According to Cognitive Market Research, the global retail sector market size will be USD 29584.5 million in 2024. It will rise at a compound annual growth rate (CAGR) of 5.9% between 2024 and 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 11833.8 million in 2024 and will climb at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 8875.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 6804.4 million in 2024 and will climb at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1479.2 million in 2024 and will climb at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
Middle East & Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 591.7 million in 2024 and will climb at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
The independent retailer segment is the fastest-growing ownership category of the retail sector industry.

Market Dynamics of Retail Sector Market

Key Drivers for Retail Sector Market

Increased Focus on Personalized User Experience to Facilitate Market Growth

The rapid growth of e-commerce has transformed the retail landscape. Consumers increasingly prefer the convenience of online shopping due to its accessibility, variety, and ease of comparison. This flexibility is particularly appealing to busy individuals and families. The proliferation of smartphones and improved internet access globally enables more people to engage in online shopping. This trend is especially prominent in emerging markets where digital access is expanding rapidly. Retailers are continuously investing in user-friendly websites, mobile apps, and personalized shopping experiences, utilizing AI and machine learning to tailor recommendations and promotions to individual preferences. For instance, on January 19, 2023, Tata Consultancy Services (TCS) announced TCS Customer Intelligence & Insights (CI&I) for Retail 3.0 to assist merchants in strengthening their client interactions. This provides hyper-personalized involvement at all stages of the customer journey. The platform delivers insights, forecasts, and recommended actions at key physical and digital touchpoints, resulting in increased marketing ROI and customer happiness.

Robust Adoption of Highly Advanced Technologies to Promote Market Developments

Emerging technological innovations are reshaping the retail sector by enhancing operational efficiency, improving customer experiences, and enabling personalized marketing strategies. Retailers are leveraging AI for inventory management, customer service, and personalized recommendations. AI-driven analytics help retailers understand consumer preferences and optimize their product offerings accordingly. The use of big data allows retailers to analyze consumer behavior, preferences, and purchasing patterns. This data-driven approach enables targeted marketing strategies and improves customer engagement. For instance, in January 2023, Microsoft and AiFi, a firm that helps businesses adopt modern shopping technology at a reasonable cost, announced their cloud service 'Smart Store Analytics'. Smart store analytics, which is part of Microsoft's Cloud for Retail product suite, provides shopper and operational data for retailers who use AiFi technology in their smart store fleets.

Restraint Factor for the Retail Sector Market

Growing Number of Retail Players Increases Price Wars to Limit Market Share

The growing number of retailers and e-commerce platforms is intensifying price competition within the retail sector. As more players enter the market, both brick-and-mortar stores and online platforms are vying for consumer attention by offering competitive pricing strategies. This increased competition leads to frequent discounting, promotional offers, and price wars, which can erode profit margins for retailers. Smaller businesses, in particular, face challenges in maintaining profitability as they compete with larger retailers who can leverage economies of scale to offer lower prices. Thus, the pressure to balance competitive pricing with sustainable marg...

In 2024, retail sales in South Korea grew by 8.2 percent compared to the previous year. Online retail sales recorded about 15 percent of the growth that year, while offline retail sales also continued to record only small growth rates during the last years. Retail channels Online retail spearheads the retail market and due to COVID-19 the popularity of online retailing was accelerated, leading to a major increase in online retail sales in 2020. At the same time, offline retail suffered from social distancing measures and afterward, the want for convenience. However, in retail sales showed growth in both categories, likely due to pent-up demand. Department stores are one offline retail channel that still flourish and try to bring innovation to the offline retail market in the shape of pop-up stores. Most popular items The product group with the highest share in retail sales was food and groceries, making up for over a third of sales. As with other consumer goods, shopping for groceries online has become a trend. Other popular product groups were services and living or family related expenses. For example, the expenses for home appliances online have grown.

India retail market size is projected to exhibit a growth rate (CAGR) of 13.90% during 2024-2032. The expanding e-commerce industry and evolving consumer preferences are primarily driving the market growth across the country.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product and distribution channel.

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Thailand Retail Market Size 2025-2029

The Thailand retail market size is forecast to increase by USD 49.69 billion, at a CAGR of 6.9% between 2024 and 2029.

In the dynamic market, several trends are shaping the industry landscape. The increasing preference for convenience and quick service, particularly in sectors like fast food and apparel, is driving market growth. Digital payment methods, such as LED and smartphone transactions, are gaining traction, streamlining the shopping experience. Telemedicine and digital health are revolutionizing the personal care sector, offering consumers on-demand healthcare services. In the realm of digital commerce, fresh food and FMCG categories are witnessing significant sales growth through e-commerce platforms. Artificial intelligence and data analytics are transforming logistics and supply chain management, ensuring efficient delivery of meal kits and other goods. 


Live streaming and meal kit services are disrupting the food service industry, offering consumers a unique dining experience. Travel retail is embracing digital commerce, with convenience stores and e-commerce platforms catering to the needs of travelers. The retail sector is also grappling with challenges, such as the threat from counterfeit products and the need for advanced packaging solutions to maintain product integrity. Overall, the retail market is witnessing a digital transformation, with technology playing a pivotal role in shaping consumer behavior and market dynamics.

What will be the Size of the Market During the Forecast Period?

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The market encompasses various sectors, including grocery, apparel, footwear, home and garden, convenience food products, and processed meat. This dynamic market exhibits continuous growth, driven by shifting consumer preferences and trends. Working women, striving for financial independence, increasingly turn to online shopping for convenience. However, challenges persist, such as card abandonment and high product return rates, which e-commerce players must address to ensure customer satisfaction.


Travel, food service, commercial assessments, and online food service are also significant contributors to the retail landscape. Emerging trends include media and entertainment, healthcare and wellness, technology products, and niche markets like live streaming engagement and cross-border e-commerce. The retail industry's size and direction reflect the evolving needs and preferences of a diverse consumer base.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Grocery
  Apparel and footwear
  BPC
  Home and garden
  Others


Distribution Channel

  Offline
  Online


Pricing Scheme

  Cash
  Digital payment
  Buy now pay later


Geography

  Thailand

By Product Insights

The grocery segment is estimated to witness significant growth during the forecast period. The market, driven by the grocery sector, experiences significant growth due to increasing consumer numbers and expanding product offerings from both domestic and international retailers. Convenience stores showcase strong growth, as consumers prefer purchasing daily grocery requirements from nearby shops. Hypermarkets, supermarkets, and other retail outlets also expand rapidly, catering to the demand for a wide range of household groceries under one roof. Key retail formats in the Philippines and Vietnam markets also witness similar trends, with e-commerce players gaining traction due to increasing internet and smartphone penetration.
Consumer behavior shifts toward financial independence, online shopping, and digital transformation. E-commerce platforms address this trend, offering counterfeit product protection and seamless digital consumer journeys. Cross-border ecommerce, sales channel analysis, and consumer engagement models further influence the evolving retail landscape. Actionable insights for strategists aim to inform decisions and drive strategic moves in the digital commerce space.

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Market Dynamics

Our Thailand Retail Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Thailand Retail Market?

Growing demand for convenience food products is the key driver of the market. The market exhibits dynamic trends, particularly in sectors such as Grocery, Apparel, Footwear, Home and garden, and Convenie

Get detailed insights into the current valuation of Big Data Analytics in Retail market size, including growth analysis, current market status and future market projections.

The report covers Retail Analytics Software Market Companies, and the market is segmented by Solution (Software and Service), Deployment (Cloud and On-premise), Function (Customer Management, In-store Operation, Supply Chain Management, Marketing, and Merchandising, Others), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The market size and forecasts are provided in terms of value (USD) for all the above segments.

Key information about Finland Retail Sales Growth

• Finland Retail Sales dropped 0.3 % YoY in Jan 2025, compared with a 2.2 % increase in the previous month.
• Finland Retail Sales Growth YoY data is updated monthly, available from Jan 1996 to Jan 2025, with an average growth rate of 3.0 %.
• The data reached an all-time high of 12.7 % in Nov 1998 and a record low of -6.6 % in Dec 2022.
• In the latest reports, Car Sales of Finland recorded 102,730.0 units in Dec 2023, representing a growth of 6.3 %.

The Taiwan retail industry, spanning from traditional brick-and-mortar stores to rapidly expanding e-commerce platforms, presents a dynamic landscape. Analyzing the period from 2019 to 2033, we observe consistent growth, although the rate fluctuates based on economic conditions and consumer behavior. The base year of 2025 provides a crucial benchmark for forecasting future performance. Considering a plausible market size of $100 billion USD (a reasonable estimate given the size of the Taiwanese economy and retail sector) in 2025, and assuming a conservative Compound Annual Growth Rate (CAGR) of 4% (reflecting both economic growth and evolving consumer preferences), the market is projected to reach approximately $117 billion USD by 2033. This growth is fueled by several factors, including rising disposable incomes, a growing young population increasingly engaged with online shopping, and the continuous influx of foreign brands seeking to tap into the Taiwanese market. However, challenges persist. Competition from both domestic and international players remains fierce, requiring retailers to continuously innovate and adapt their strategies to meet evolving customer expectations. Furthermore, the impact of global economic fluctuations and supply chain disruptions could influence growth trajectories. The future of the Taiwan retail industry hinges on the successful integration of online and offline channels (omni-channel strategies), personalized customer experiences, and the adoption of advanced technologies such as artificial intelligence and big data analytics for improved efficiency and customer engagement. The industry's ability to harness these technological advancements will be pivotal in maintaining its growth momentum and competitiveness in the long term. Government policies aimed at boosting domestic consumption and supporting small and medium-sized enterprises (SMEs) also play a significant role in shaping the overall industry landscape. A focus on sustainability and ethical sourcing will increasingly resonate with environmentally and socially conscious consumers, presenting opportunities for businesses to differentiate themselves. Recent developments include: In January 2021, Bolttech expanded in Taiwan via a device protection partnership with Samsung. Its latest partnership with Samsung in Taiwan includes arranging for mobile device protection to owners of new Samsung Galaxy smartphones and tablets through the Samsung Care+ program., In November 2020, Foodpanda expanded its e-commerce with more than 2,500 7-Eleven stores across Singapore, Malaysia, Taiwan, and the Philippines. With this partnership, Foodpanda brings hundreds of 7-Eleven items, including hot food, ready-to-eat instant meals, snacks and alcohol, and even pre-paid mobile phone cards, to customers' hands within an average delivery time of 20 minutes. Deliveries can be made anytime, anywhere, 24*7 via Foodpanda.. Notable trends are: Consumer Confidence to Strengthen on Minimum Wage Hike..

Indonesia Retail Market is estimated to grow at a CAGR of around 4.7% during the forecast period 2024-30. The rising popularity of In-store bakeries will drive the Indonesia Retail Market growth during 2024-2030.

Key information about Italy Retail Sales Growth

• Italy Retail Sales grew 0.8 % YoY in Jan 2025, compared with a 1.4 % increase in the previous month.
• Italy Retail Sales Growth YoY data is updated monthly, available from Jan 2001 to Jan 2025, with an average growth rate of 0.7 %.
• The data reached an all-time high of 34.5 % in Apr 2021 and a record low of -27.5 % in Apr 2020.
• In the latest reports, Car Sales of Italy recorded 1,794,655.0 units in Dec 2023, representing a growth of 19.2 %.

Key information about Mexico Retail Sales Growth

• Mexico Retail Sales grew 4.6 % YoY in Apr 2023, compared with a 1.8 % increase in the previous month.
• Mexico Retail Sales Growth YoY data is updated monthly, available from Jan 2002 to Apr 2023, with an average growth rate of 2.0 %.
• The data reached an all-time high of 34.7 % in May 2021 and a record low of -23.3 % in May 2020.
• In the latest reports, Car Sales of Mexico recorded 111,416.0 units in May 2023, representing a growth of 18.0 %.

The Modern Trade Retail Market Report is Segmented by Product Type (food, Beverage, and Grocery, Personal and Household Care, Apparel, Footwear, and Accessories, Furniture and Home Décor, Toys, Hobby, and Household Appliances, and Pharmaceuticals), by Ownership (retail Chains and Independent Retailers), by Distribution Channel (supermarkets/hypermarkets, Specialty Stores, Online, and Other Distribution Channels), and by Geography (North America, Europe, Asia Pacific, South America, and the Middle East and Africa). The Report Offers Market Size and Forecasts for the Modern Trade Retail Market in Value (USD) for all the Above Segments.

The global smart retail market size reached USD 47.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 274.8 Billion by 2033, exhibiting a growth rate (CAGR) of 21.51% during 2025-2033. The rising technological advancements, changing consumer expectations, rising automation trends, sudden outbreak of the coronavirus disease (COVID-19), the increased product adoption due to personalization, convenience, and seamless shopping experiences are some factors propelling the market share.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on offering, retailer size, application, and end user.

Key information about New Zealand Retail Sales Growth

• New Zealand Retail Sales grew 0.4 % YoY in Dec 2024, compared with a 2.7 % decrease in the previous quarter.
• New Zealand Retail Sales Growth YoY data is updated quarterly, available from Sep 1996 to Dec 2024, with an average growth rate of 4.4 %.
• The data reached an all-time high of 33.5 % in Jun 2021 and a record low of -14.7 % in Jun 2020.
• In the latest reports, Car Sales of New Zealand recorded 129,028.0 units in Dec 2024, representing a drop of 13.6 %.