Meaning of the word "retail market" in English

What does "retail market" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

retail market

US /ˈriː.teɪl ˈmɑːr.kɪt/
UK /ˈriː.teɪl ˈmɑː.kɪt/

Noun

the market where goods are sold directly to consumers, rather than to businesses or for resale

Example:
The company is trying to expand its presence in the retail market.
Online shopping has significantly impacted the traditional retail market.