Companies in this segment sell a wide variety of products, primarily door-to-door or through other person-to-person contact.
Franchisers grant franchises to interested companies in the retail industry. These companies sell a wide variety of products, but are held to the standards and regulations set by the particular franchiser.
Companies in this segment sell a variety of products to consumers including apparel, hardware, household goods, and office supplies, primarily in-store or online.
The Retail industry is Fragmented. The production in this industry is divided among a few different companies, however, no single firm has large enough share of the market to be able to influence the industry's direction or price levels.
Primary Demand Drivers
- Personal income
- Consumer confidence
- Interest rates
- Efficient supply chain management
- Effective merchandising and marketing
From the Blog
As the Coronavirus pandemic continues to surge uncontrollably, several countries are going back on lockdown and the retail industry is still trying to figure out how to reinvent themselves to standout as the world becomes more digital. The pandemic has put many brick and mortar businesses in a difficult position with a decrease in in-person shoppers and websites that have not been updated or modified in many years. Consumers are not necessarily looking for stores that have the best goods or services, but for stores that can make them feel safe and comfortable with in-person and online shopping options.
Holiday season has always been a period of high spend. Retails are rushing last minute to increase their sales while consumers are all in the happy spirit of buying gifts for their loved ones. With desires from both the seller and the buyer, this is the perfect environment for buying. Brands around the world are preparing their products but this year will surely look different given the circumstances with COVID-19.
- SelectUSA (Date Accessed: 6/1/2017)