Retail
RETAIL SECTOR
Retail is a vast sector, ranging from department stores to coffee machines, from the town square to the digital storefront, from the most promising transformations to possible apocalypse. In this post, we’ll explore the retail sector and its unique characteristics.
The retail sector is often said to be one of the most important for a country’s economy because it is a sort of litmus test of an economy’s level of well-being. In a Healthcarey economy, there is high production and, consequently, wealth is reflected on consumption, most of which is concentrated in retail. For this reason, in times of crisis, one of the first sectors to contract is retail, which immediately suffers: consumption is reduced and, consequently, operators who base their business on the sale of food or consumer goods see their revenues fall, with resulting repercussions on employment.
One sector, three segments
- Food products, which includes all the activities that distribute food and related products to consumers
- Consumer goods, which includes all the activities that sell products, many of which can be reused over time
- Durable consumer goods, which includes activities that provide consumers with longer lasting products such as household appliances, furniture, or cookware.