New Giants in Retail Industry

The retail industry is the biggest and most profitable industry. It has its root widely spread from the e-commerce industry to the real state. The chain of the retail industry includes manufacturer (produces finished product from raw material), Wholesaler (intermediator which takes the immediate product and supplies it to retailer), Retailer (Seller of the product to end-user) and Consumer (who consumes the final product). This sector has witnessed a drastic transformation in the past decade. The introduction of e-commerce into the industry has changed the face of the industry. The companies who have learnt to plunge withthe flow has served and othersare struggling for their survivals. Remember 90’s where buyer use to visit the shop physically for the purchase of every small product, but the introduction of e-commerce has changed the picture entirely, one can buy anything without moving an inch. The pioneer of e-commerce has gained an advantage and became agiant in the retail industry.

Corner Store
Departmental Store
Shopping Mall

Fig 1: Revolution in Retail Industry

Most of the retail player has become the household name, few of thegiant plays name are:

  1. Walmart: Walmart is a gigantic name in the field of e-commerce. It is a US-based company founded by Sam Walton in 1962 year. The company operates over 26 countries with 54 different names and is the largest revenue-generating retail industry with US$548.743 billion, according to the Fortune Global 500 list in 2020.
  2. Amazon: Another famous name in the field of the retail industry is Amazon. The company is in Washington, U.S. and is owned by Jeff Bezos. The company is a common name of a household that provide a wide range of services such as Cloud computing, e-commerce, artificial intelligence, consumer electronics, digital distribution, and many more.
  3. Schwarz Group: Schwarz Group is Europe largest retail industry which is owned by a family and has its headquarter located in Germany. The company is a multinational company that operates grocery shops under the Lidl and Kaufland brands.Schwarz group also operates its production facilities for baking goods, soft drinks or ice cream.
  4. Alibaba:Alibaba is a renowned name in the field of wholesale business. The company has its headquarter located in China and is owned by Jack Ma. The company started its journey in 1990 and provide the services likeE-commerce, Cloud computing, Entertainment, Mobile commerce, RetailMobile, media and many more.
  5. Target Corp. (TGT): TGT isanAmerican Giant with an estimated revenue of 80.1 $. It is the 8th largest store in the USA and a competitor of Walmart and Amazon.
Previous articleNew Technology in Banking Sector
Next articleIoT and middle-class people in the world