Retail Industry Leaders Association

The retail industry comprises retail businesses that sell goods and services directly to end consumers. It is a fundamental pillar of modern commerce, influencing consumption patterns, urban infrastructure, and labor markets. In major classification systems, retail is treated as a distinct set of activities. Over millennia, retail has evolved from ancient barter marketplaces to modern omnichannel systems integrating physical stores and digital platforms. Retail is a large source of jobs and economic activity in many countries. In the United States, retail is described as the largest private-sector employer. This sector employed about 16.2 million people (approximately 12.6% of nonfarm business employment) in 2022, supporting millions more in related logistics and services. The retail market is also described as very large globally, with projected worldwide retail sales of about $31.3 trillion in 2025, and U.S. retail sales of about $7.26 trillion in 2024. U.S. retail and food services together contribute over $5.3 trillion annually to the national GDP and support more than one in four jobs in the country. via Wikipedia ↗