retail economy
Shopping-based economic sector
The retail economy encompasses all economic activity involving the sale of goods and services directly to consumers.
It includes brick-and-mortar stores, e-commerce, and the employment, supply chains, and consumer spending patterns that support them: The retail economy struggles when consumers tighten their budgets.
Economists track retail sales as an indicator of overall economic health.
- consumer spendingHousehold purchasing of goods
- brick-and-mortarPhysically present business
- shopping mallLarge indoor retail center
- convenience storesSmall retail shops, extended hours
- department storesLarge retailers with varied sections
e-commerce · pop-up shops · market saturation · small business · customer loyalty · inventory management · employment rates · seasonal demand · holiday shopping · distribution networks · loss prevention · Black Friday · price sensitivity · cash · consumer confidence · credit card debt · shopping habits · impulse buying
retail economyindustrial economy
Production-centered economic system
service economy · knowledge economy · agrarian economy · agricultural economy · information economy
retail economysubsistence economy
System without market surplus
barter economy · gift economy · command economy · sharing economy · planned economy