Global retailing industry to hit $9.7 trillion by 2015
While the retail industry was notable in that it was one of the few sectors that did well in 2012, that success wasn't limited to the United States. Globally, the retail business is booming and will continue to do so through 2015, at which point GIA anticipates the sector will hit $9.7 trillion.
As the report notes, the retail industry was under pressure from the collapse of the global economy and felt the hardships of the frugal consumer between 2007 and 2009. However, starting in 2010, the sector began to make a notable recovery. Now, thanks to innovations in both the store front and online experience, the industry will prosper through 2015.
"Against this backdrop, multi-channel retailing is poised to gain paramount importance, with reliance on a single channel making it virtually impossible for retailers to gain a competitive edge in the tough environment. Multi-channel retail format enables retailers to combine the synergies of traditional retail stores with other retailing formats such as mobile stores, online stores, catalogs and convenience stores," GIA explains.
A separate study from Deloitte suggests brick-and-mortar stores will continue to be a main shopping location through this time frame.
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