Retail Industry to hit US$ 51,554.7 billion by 2031 | E-commerce Growth and Omnichannel Retail Strategies

Retail Market Industry Growth to US$ 51,554.7 billion by 2031 | CAGR 7.7%

AUSTIN, TX, UNITED STATES, November 11, 2025 /EINPresswire.com/ -- Retail Market Industry Overview and Growth Forecast

According to DataM Intelligence, the Global Retail Industry Size is projected to grow from USD$28,680.3 Billion in 2023 to US$ 51,554.7 billion by 2031, registering a robust CAGR of 7.7% during 2024–2031. This growth is driven by accelerating digital transformation, evolving consumer behaviors, and increasing adoption of omnichannel retail strategies worldwide.

Retail is witnessing a dynamic shift with e-commerce expansion, innovative customer engagement models, and supply chain modernization enabling retailers to serve increasingly tech-savvy and value-conscious consumers.

70 – Tables
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Growth Drivers

• E-commerce surge: Online retail sales are expected to exceed USD 8 trillion by 2032, fueled by smartphone penetration, fast delivery infrastructure, and rising consumer preference for convenience.

• Omnichannel adoption: Over 75% of retailers have integrated online and offline channels by 2024 to deliver seamless shopping experiences, expected to reach near 90% by 2032.

• Rising middle-class income: Expanding urban middle classes in Asia-Pacific and Latin America increase retail demand for discretionary goods, fashion, and consumer electronics.

• Technological innovations: AI-powered personalization, AR/VR shopping experiences, and automated warehouses are transforming customer engagement and operational efficiency.

• Sustainability focus: Growing demand for eco-friendly products and transparent supply chains drives investments in sustainable sourcing and circular retail models.

Market Segmentation Analysis

By Retail Format
• Brick-and-Mortar Stores: Continue to represent 55% of total retail sales in 2024 but projected to decline moderately to 48% by 2032 as digital channels grow.
• E-commerce: Accounts for 30% of retail sales in 2024, forecast to reach 42% by 2032, driven by mobile commerce and social commerce innovations.
• Omnichannel Retailing: Rapidly expanding segment with seamless integration of physical and digital shopping experiences, forecasted to grow at 9% CAGR through 2032.

By Product Category
• Apparel and Accessories: Largest category with 28% market share, expected to grow steadily driven by fast fashion and direct-to-consumer brands.
• Consumer Electronics: Growing rapidly at 7.5% CAGR due to demand for smart devices and home automation products.
• Food and Grocery: Stable segment with 22% share, increasingly adopting online delivery and subscription services.
• Health and Beauty: Experiencing fast growth due to premiumization and personalized wellness products.
• Home Furnishing & Appliances: Growth supported by rising home improvement trends and remote work lifestyle changes.

By Channel
• Direct-to-Consumer (DTC): Emerging retail model with brands selling directly via websites and apps, growing at 11% CAGR.
• Third-party Marketplaces: Platforms like Amazon, Alibaba, and Flipkart dominate online sales, with marketplace sales expected to represent 65% of e-commerce by 2032.
• Social Commerce: Rapidly growing channel through platforms like Instagram, TikTok, and WeChat, especially popular among Gen Z shoppers.

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Regional Insights

North America
The North American retail market was valued at USD 6.5 trillion in 2024 and is expected to reach USD 10.8 trillion by 2032, growing at 6.1% CAGR. Mature markets continue investing heavily in omnichannel retail, AI-driven personalization, and curbside pickup services.

Asia-Pacific
Asia-Pacific dominates global retail sales with a market size of USD 10.7 trillion in 2024 and is projected to grow to USD 18.9 trillion by 2032 at a CAGR of 7.8%. Key growth drivers include rapid urbanization, rising internet penetration, and expanding e-commerce ecosystems in China, India, and Southeast Asia.

Europe
Europe’s retail market, valued at USD 5.3 trillion in 2024, is expected to reach USD 8.7 trillion by 2032 with 5.5% CAGR. Sustainability regulations, digital payments adoption, and experiential retail formats drive growth across Western and Northern Europe.

Competitive Landscape

The retail industry is highly fragmented, with a mix of global retail chains, digital-native brands, and platform-based marketplace leaders.

Key Players:
• Walmart
• Costco Wholesale Corporation
• Amazon.com, Inc.
• The Kroger Co.
• Home Depot
• Target Brands, Inc.
• Walgreens Boots Alliance, Inc.
• ALDI
• Best Buy
• MagSon

Key Highlights:

1• Amazon leads in e-commerce innovation, expanding its logistics and AI-driven product recommendations.
2• Walmart focuses on omnichannel growth, expanding online grocery and curbside pickup.
3• Alibaba dominates Asia-Pacific online retail, pioneering social commerce and live-stream shopping.
4• Shopify enables thousands of SMBs to launch DTC brands worldwide.
5• Inditex invests in sustainable fashion and supply chain transparency.

Recent Developments

• Walmart launched an AI-powered virtual shopping assistant (March 2025) to enhance customer experience across digital channels.
• Amazon expanded drone delivery pilots in the U.S. to speed up last-mile fulfillment (January 2025).
• Alibaba introduced a metaverse shopping mall integrating AR and live commerce in China (December 2024).
• Tesco expanded its online grocery delivery capacity in the UK to meet rising demand (February 2025).
• IKEA launched a circular furniture rental and resale program in Europe (April 2025).

Market Outlook and Opportunities
• E-commerce will account for nearly half of global retail sales by 2032, driven by emerging markets and digital innovations.
• Sustainability is a critical factor influencing consumer purchase decisions, opening opportunities in eco-friendly products and transparent sourcing.
• Omnichannel integration remains key to customer retention and sales growth.
• Technological advancements like AI, IoT, and AR will further personalize shopping experiences and optimize retail operations.
• Direct-to-consumer models will disrupt traditional retail, empowering brands to build closer consumer relationships.

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Conclusion

The Retail Market is undergoing a transformative phase characterized by digitization, consumer-centric innovation, and sustainability. With a forecasted growth to USD 40.8 trillion by 2032, retailers adopting omnichannel strategies, leveraging technology, and embracing changing consumer values will emerge as market leaders in this competitive landscape.

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Sai Kiran
DataM Intelligence 4market Research LLP
+1 877-441-4866
sai.k@datamintelligence.com
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