Overview about Retail Sector

The retail sector refers to the industry that involves the sale of goods to consumers for personal or household use. This can include physical stores, as well as online and mobile sales. The retail industry can be divided into several subsectors, such as apparel, food, and electronics. Retail companies may be organized as department stores, specialty stores, or big-box stores, and can be operated by companies or individuals. The retail sector plays a significant role in most economies, as it is a major source of employment and income for many people. The sector has been undergoing significant changes in recent years, with the rise of e-commerce and the shift of consumer spending towards online channels. This has led to the closure of many brick-and-mortar stores and the emergence of new business models, such as omnichannel retail.