This company is a constituent of the consumer and retail sector. Retail is both an indicator and an accelerator of economic booms and busts. This highly competitive sector depends on the spending habits and budget of the man on the street. It covers almost everything people buy for their homes, from clothing to furniture. The companies in this sector broadly fit into one of three categories: consumer manufacturing, services and retail.
Consumer manufacturers provide households and people with what they use on a day-to-day basis. It could be finished products such as electronic equipment or materials for home improvement jobs. Leisure accounts for a significant share of this segment, especially in developed countries. There are leisure activities for many different tastes, and most require specialist equipment, be it tennis rackets, pool tables or surf boards.
Consumer and retail goes way beyond shopping: eating out, food on the go, the holidays of a lifetime or that special weekend break – hospitality services are at our fingertips. This segment includes hotels and restaurants, gaming, cruise companies and leisure facilities. The growing middle class in the emerging markets has contributed massively to the growth of this sector on a global basis. More people around the world than ever before have spare cash to spend on leisure activities.
Consumers also spend more money on educational services such as training courses to improve career opportunities or learn more about an area of interest.
Retailers are active across all distribution channels. The high street remains a favourite among shoppers, but the internet has been gaining market share at a rapid pace.
Watch this space: Homes are no longer just the house a family lives in. The home area has been expanding to include cars, camper vans, second homes and holiday cottages. Sales of automotive appliances have gone up the most over the last few decades. Some appliances such as baby seats and secure pet travel equipment have now been made a requirement by some governments.
