Bridging the gap between manufacturers and consumers, the retail industry is an integral part of the global marketplace. The fickle nature of consumers creates an important challenge that necessitates smart purchasing decisions and inventory management. As e-commerce gains popularity, many sectors are expanding by joining the virtual marketplace. Retailers are investing heavily in technology to collect and analyze information about buying behaviors and enhance the customer buying experience. While underlying population growth will drive long-term growth in retail goods, the health of the overall economy along with consumer confidence and disposable income are the most important short-term indicators.