Retail Industry in North America

Bharatbook.com included a new report on “Retail Industry in North America - IT Market Assessment” highlights the market trends, growth drivers and restraints in the Retail Industry in North America.

Retail Industry in North America - IT Market Assessment Report ( https://www.bharatbook.com/Market-Research-Reports/Retail-Industry-in-North-America-IT-Market-Assessment.html ) forecasts the IT spending of the Retail Industry in North America over the period 2007-2013. After a steady growth for the last two decades, the retail industry in North America experienced a negative growth in 2007, which can be attributed to the subprime crisis and the gradual slowdown in the US economy. The slowdown can be attributed to the high-energy prices and the prevalent credit crunch following the sub-prime market crisis. However, this is expected to be a temporary phenomenon and sales are expected to pick up from 2009-10 onwards.

A large number of Americans prefer to purchase online and this trend is observed in the retail industry as well. The growth in e-commerce is due to change in the buying habits of customers. With decrease in cost of computers and increase in its usage, it is expected to increase substantially in future. The growth in sales through e-commerce route also reflects that more retail companies are moving to sell online.

The median age in North America is well above 35 years. This factor, coupled with the fact that the baby boomers are approaching the retirement age, could prove detrimental to the growth of the retail industry. Usually spending habits reduce with age and an aging population shows marked dislike towards visiting malls and using technology. These demographic factors could play a crucial role in the retail industry’s growth in the coming years.

The report highlights the market trends, growth drivers and restraints in the Retail Industry in North America. Further, the report discusses about the IT spending & forecast of this industry and also talks about the regulations that affect the IT spending of the Retail Industry in North America.

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