The Retail industry is one of the largest and most rapidly evolving industries worldwide. The retail sector is highly competitive, and in order for retailers to stay ahead in the market, they must adapt to ever-changing consumer preferences and tastes.

Globally, the retail sector is growing significantly and is driven by the rise of e-commerce and technological advancements such as Artificial Intelligence, Virtual Reality and Augmented Reality.  The retail sector is adapting to these changes and meeting market demands, particularly through omnichannel strategies that allow for a seamless shopping experience across both physical and online stores. Walmart, as the world’s largest retailer, is leading the way in this transformation.

In addition to these technological innovations, sustainability and social responsibility have become essential priorities for retailers. Consumers are increasingly prioritizing ethically sourced products and environmentally conscious practices.

According to a report by Mordor Intelligence, the retail industry is expected to grow from USD 35.18 trillion in 2025 to USD 50.86 trillion by 2030 at a CAGR of 7.65% during the forecast period [2025-2030].

While in store-retail is still a dominant player in the global market, non-store retailing is steadily growing in prominence. E-commerce and online retail platforms are gradually securing a foothold and expanding their presence in the global retail market.

Online shopping is a key factor driving global retail growth, fuelled by the rise in online sales. Statista predicts that by 2027, e-commerce will account for nearly a quarter of total global retail sales.

The Asia-Pacific region is emerging as a key retail market and is expected to experience a higher growth in retail sales compared to other regions. Euromonitor projects that the Asia -Pacific region, which is home to a large population, will account for 40% of the world’s total retail sales by 2028.

In the global retail sector, electronics is the leading category followed by fashion &apparel and health &beauty.

In India, the growth of the retail sector is being driven by factors such as increasing urbanization, rising incomes, and increased consumer spending. According to a report from IBEF (Indian Brand Equity Foundation), India is ranked fourth globally in the retail sector and contributes over 10% to the nation’s GDP.  Reliance retail is the largest retail chain in India.

A report from Boston Consulting Group (BGC) predicts that India’s retail sector will hit an impressive US$ 2 trillion in value by 2032.

In the Indian retail market, food &grocery is the leading category followed by Apparel &Electronics, and Jewellery, Accessories and watches.

Malaysia is one of South East Asia’s fastest-growing markets. This growth is fuelled by a growing middle class, rising disposable income, increased consumer spending, and increasing internet penetration, along with the ubiquitous use of smartphones. AEON Co is Malaysia’s largest grocery retailer.

Mordor Intelligence, estimates that the retail market in Malaysia will be valued at USD 94.99 billion in 2025 and is projected to grow to USD 126.75 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.94% during the forecast period.

Indonesia is the leading economy and the key driver of growth in the Southeast Asian retail industry. This growth is fuelled by a growing middle class, increased consumer spending and adoption of digital technologies. Indomaret is Indonesia’s largest retail chain.

Technavio, estimates that the retail market will expand by USD 49.9 billion between 2025 and 2029, growing at a compound annual growth rate (CAGR) of 4.7% over the forecast period.

Thailand’s retail sector is fuelled by a growing middle class, increasing disposable income, a thriving e-commerce sector and a boost in tourism. Central Food Retail Company Limited (CPR) is Thailand’ s largest retail chain, particularly in the supermarket sector.

According to Technavio, the Thailand retail market size is estimated to grow by USD 71.7 billion at a CAGR of 6% between 2024-2029.

South Africa’s retail sector is the third-largest sector in the country’s economy and is dominated by several top organizations. Shoprite Holdings is the largest retail chain in the country.

The UAE’S retail market is booming, fueled by its popularity as a top tourist destination, a large expatriate population, and the rapid growth of digital technology and e-commerce. The largest retail chain in the UAE, particularly in terms of supermarket presence, is Carrefour, followed by Lulu Hypermarket and West Zone Fresh Supermarket.

A report from Research And Markets indicates that the UAE retail market was valued at USD 44.38 billion in 2024 and is projected to grow to USD 61.81 billion by 2030, at a CAGR of 5.70%.

The retail sector in the Kingdom of Saudi Arabia has witnessed significant growth. The growth is driven by the country’s youth, expanding middle class, shifting consumer preferences, the development of retail infrastructure, warehousing, supply chains, logistics and marketing.

A key driving force is the country’s Vision 2030 initiative, which aims to reduce the country’s reliance on oil revenues and foster growth in non-oil sectors. Abdullah Al-othaim is the largest retail chain in Saudi Arabia, particularly in terms of grocery stores.

According to Statista, retail sales in Saudi Arabia is expected to reach approximately 176.5 billion US dollars by 2024.

In Australia, the retail sector is being shaped by the rise of e-commerce, changing consumer preferences and technological advancements. In 2025, Statista predicts the Australian retail industry will reach a significant size, with the retail turnover expected to be around 436.76 billion Australian dollars. Woolworth’s and Coles are two largest supermarket chains in the country.

In Conclusion, the global retail sector is rapidly evolving, driven by e-commerce, technological advancements, and changing consumer preferences. Regions like Asia-Pacific and markets such as India, Indonesia, Thailand, Malaysia, Saudi Arabia, UAE, South Africa and Australia show significant growth. Retailers must adapt through innovation and sustainability to remain competitive in this dynamic, expanding market.