Retail industry comprises companies and establishments that operate by establishing, producing and retailing various types of stores. Around the world, luxury and international brands flock to high streets and expand into new markets as retailers rebound, and given the increasing sales around the world, growing rents in highly coveted locations, and rising demand for retail presence in key tourist destinations the retail industry is thriving and expected to grow bigger. The retailing industry is comprised of the sale of products and merchandise from a static location, such as a store, or by mail, or online. Any company that sells products to and services to a consumer is considered to be in the retail industry. Retailers purchase products in bulk from manufacturers, importers, or wholesalers, and then separate the products before proceeding to sell the goods directly to consumers. This industry is comprised of thee predominant sectors such as multiline retail, specialty retail, and internet retail. Multiline retailers are made up of general merchandisers and department stores. This segment of retailers offer varied products, and may also include warehouse clubs and superstores. Specialty retailers focus on one section of the retail market at a time, such as apparel, computer and electronic, home improvement, sporting goods, or auto parts, amongst others. Internet retailing is inclusive of every sale made through the internet. Within these major sectors, there are subsectors of the merchandise offered through these retail outlets; food and beverage such as grocery store, alcoholic suppliers, and specialty food stores, pharmaceutical, cosmetic and personal care, motor vehicle dealers, and apparel and footwear merchants.

 

The global online retail industry is expected to reach almost $830 billion by the end of 2015, reports MarketLine. This represents 90% market expansion in just five years. Electronics are the leading market segment, with close to 34% of the overall market. The Americas represent more than 40% of the global online retail industry. And the Indian Retail Industry is one of the pillars of its economy and accounts for 14 to 15 percent of its GDP. The Indian retail market is estimated to be US$ 450 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people. As per the reports, on December 7th 2012, the Federal Government of India has allowed 51% FDI, that is Foreign Direct Investment in multi-brand retail in India. Retailing industry comprises of three main sectors namely multiline retail, specialty retail, and internet retail. The sale of goods and services from individuals or businesses to the end-user is called as retailing. Here, the retailers are part of an integrated system called the supply chain. Small businesses focus on retailing unique products, providing an outstanding retail experience, offering excellent consumer services, and prioritizing their business to a specific locale. Large companies utilize the advantages they have in the areas of purchasing, merchandising, and distribution of their products.