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Retail And Wholesale Global Market Briefing

  • February 2016
  • -
  • TBRC Business Research
  • -
  • 19 pages

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Retailers provide the service of making goods available to consumers in convenient quantities and locations. Retailing involves buying from wholesalers or direct from manufacturers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery. Wholesalers are independent organizations in the distribution channel that buy in bulk and sell to resellers rather than to consumers. Both retailers and wholesalers take ownership of the goods and so bear the risk of carrying inventory. They also reduce the total number of transactions required for the process of transferring goods from manufacturers to consumers.

The total value of the retail & wholesale market globally in 2014 was $24,725 billion. Related to a world population of more than 7 billion in 2014 this equates to about $3,532 per person globally. Given that World Domestic Product was approximately $78 trillion in 2014i, the industry accounts for up about 31.7% of the global economy.

Mobile usage will not slow down going forward, while smart phones and tablets are expected to play bigger roles in shopping. Services such as mobile ordering will increase and larger companies such as BJ’s Restaurant and Chipotle are implementing this but solutions like Mobi2Go enable SMBs to use these services. Usage of mobile wallets such as Google, Soft card and Apple will increase and the companies can expect less card swiping and cash handling and more phone-scanning in future.

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