The retail industry accounts for over US$15 trillion in global revenue, and is expected to maintain strong growth. The industry is very diverse, with small retailers still prevalent in developing countries, but increasingly, large firms are dominating. The consultant firm Deloitte estimates that the world’s largest 250 retailers had a sales-weighted, currency-adjusted retail revenue of US $4.3 trillion in 2011, up 5.1 % from 2010. This means that the top 250 firms accounted for approximately 40 % of retail revenue in 2011. The average top retailer had revenue of $17 billion in 2011.

Retail employment often accounts for about 10 to 15 % of total country employment, on average, though this is difficult to measure in countries with large informal sectors.

 Approximately 142 million people were employed in the retail sector in 82 countries, including China and India, based on data for the most recent year available.

Retail also accounts for a significant share of GDP in many countries, from 8 % in the U.S., to 14 % in India.Retail and wholesale trade is the third largest economic sector in Germany, accounting for 9.4 % of total gross value added. Some countries have seen growth in the importance of retail in relation to the economy, but that trend does not hold everywhere. For example, in Australia, the total volume of sales revenue has increased, but the industry comprised 5 % of GDP in 1996-97, and only 4.1 % of GDP by 2009-2010.11 

Retail industry, being the fifth largest in the world, is one of the sunrise sectors with huge growth potential and accounts for 14-15% of the country’s GDP.

The Indian retail market is expected to touch US$ 1.3 trillion by 2020 from its existing level of around US$ 500 billion, according to Mr KV Thomas, Union Minister for Food and Consumer Affairs.

 The foreign direct investment (FDI) inflows in single-brand retail trading during the period April 2000– September 2013 stood at US$ 97.29 million, as per data released by Department of Industrial Policy and Promotion (DIPP).