Retail Industry

By Brenda Bannerman
 History
*The ancient Egyptians were known to buy and
sell cloth, utensils, pottery, and foodstuffs with
their Mediterranean neighbors.

*Over time, trade and commerce will become the

most important driving force behind the global
expansion of human population.

*The pioneering spirit of people moving west and

both opening and shopping at local general
stores evolved as the United States moved into
the 20th century.

*The first cash register was invented by James

Ritty in 1883. Ritty was a saloon keeper in Ohio
and nicknamed the invention the “incorruptible
cashier.”

Market
*Retail Trade Sector

*Global Retail Industry Market Definition

Retail is how producers of goods and services
get their products to the consumer. Retailers
often get their goods directly from the
manufacturer. This is when a commodity
becomes a finished product.

*Emerging economies showcase a rising GDP

which increases the per capita income of the
population as

*Market is segmented based on Product,

Distribution Channel, and Geography.
 Current Economic Position
*With changing economic conditions, the retail industry is
undergoing significant changes.

*In 2019, the economy slowed, with real GDP growth falling to 1.9
percent in the third quarter from 3.1 percent in the first.

*The retail industry was already depleted as 2020 approached,

with heavy debt burdens, slow asset turnover, increasing SG&A,
compressed margins, and increased competition. Many of these
issues have been worsened by COVID-19, with retail margins
becoming even more limited as customers continue to move
online.

Advertisement
*To create revenue from their target audience, retailers use store
ads (both online and offline) to raise awareness and interest in
their goods.

*A retailer uses ads to try to persuade their audience to take a

particular action.

*Retail advertising is a significant end-use market for the printing

industry. While different retailers use different media, major print
markets include catalogs, circulars (flyers and inserts),
newspapers, magazines, and direct mail.
Competition
*In the developed economies of Europe and North
America, the retail sector is mature and highly
competitive.

*In the retail industry, the intensity of competitive

rivalry is affected by a gamut of factors such as:

1. Intensification of competition with new

competitive players joining the industry.
2. Gaining a competitive edge over the
counterparts by achieving economies of scale in
production
3. Stiff competitive rivalry amongst the established
retail tycoons or major industry players.

Audience
Individuals and businesses involved in the sale of
finished goods to end users.
1. Clothing and Accessories Shoppers
2. Luxury Shoppers
3. Mall Visitors
4. Fashion e-commerce app users
5. Nightlife Spots Visitors
Government Subsidies:
*the Government launched the Retail Sector
Subsidy Scheme under the Anti-epidemic Fund
on March 23, 2020.

*The Fund set aside $5.6 billion for the Scheme

*Projected to support about 70,000 retailers.

*Each eligible retail store would receive a one-off

subsidy of $80,000. The first tranche of payment
was to be made within April.

*Under the Scheme, the maximum amount of

subsidy for a parent company that operates retail
groups or chain stores under the same business
registration was $3 million (equivalent to no
more than 38 stores).
Works Cited:

“Government Announces the Launch of Retail Sector Subsidy Scheme.” Www.guidemehongkong.com,

www.guidemehongkong.com/in-the-news/2020---retail-sector-subsidy-scheme-under-anti-epidemic-fund.
‌
“Retail Advertising in 2020: How to Do It Efficiently. 21 Jan. 2020, blog.creatopy.com/retail-advertising/.
‌
“Retail Industry | Growth, Trends, and Forecasts (2020 - 2025).” Www.mordorintelligence.com,
www.mordorintelligence.com/industry-reports/retail-industry#:~:text=The%20retail%20industry%20is%20witnessing%20dramatic
%20changes%20with. Accessed 27 Apr. 2021.

“Retail Industry Market.” Verified Market Research, 1 Apr. 2021,

www.verifiedmarketresearch.com/product/retail-industry-market/#:~:text=Global%20Retail%20Industry%20Market%20Definition
%20Retail%20is%20how,is%20when%20a%20commodity%20becomes%20a%20finished%20product.

“Shibboleth Authentication Request.” Login.ccbcmd.idm.oclc.org, eds.a.ebscohost.com.ccbcmd.idm.oclc.org/eds/detail/detail?

vid=1&sid=97146d76-2986-4357-ab0c-771b2c23039c%40sdc-v-
sessmgr03&bdata=JkF1dGhUeXBlPWlwLHVybCx1aWQsY29va2llJnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d
%3d#AN=89088217&db=ers.
‌ Accessed 27 Apr. 2021.

“‌ The History and Evolution of Retail Stores (From 1700s to 2021).” The BigCommerce Blog, 13 Jan. 2021,
www.bigcommerce.com/blog/retail/#the-history-and-evolution-of-retail-stores.