The retail sector refers to the part of the economy that sells goods and services directly to consumers. This includes various types of businesses, such as grocery stores, clothing shops, and online retailers. Retailers purchase products from manufacturers or wholesalers and then sell them at a markup to make a profit. Retail can be categorized into different formats, including brick-and-mortar stores, which are physical locations, and e-commerce, which involves online shopping. The sector plays a crucial role in the economy by providing jobs and contributing to consumer spending, which drives economic growth.