This comprehensive study critically examines the evolution of retail as a key component of commerce, trade and business; various stages through which this business tool has undergone, what is the current retailing scenario all across the globe and finally what is its future outlook. Retail, as one of the basic tools of business has undergone a considerable change; since its inception, its dynamic nature is changing it rapidly. There have been several drivers responsible for this change such as globalization, government policies, manufacturers, service providers, changing business dynamics, industrial alterations, innovation, consumers, etc. This research paper examines all of these reasons and intends to determine how the future of retail may be like a few decades from now. Research Type: Analytical and Conceptual Research Objective: The fundamental reason for taking up this research is to critically examine the concept of retail, retail management and retail marketing. In addition to this, the paper analyses the journey of retail till date ever since its inception as a key component of trade, commerce and business. And finally this research intends to draw a future blueprint of retail industry. Research Scope: This comprehensive research provides a platform for determining new, better and innovative retail formats.
