Identify the market structure that the food retail market operates under?

Question: Identify the market structure that the food retail market operates under? 

The food retail market typically operates under an oligopolistic market structure. This means that a few large firms dominate the industry, such as Walmart, Tesco, and Carrefour, while smaller retailers also exist. The market is characterized by high competition, price sensitivity, and consumer-driven demand. 

However, depending on the region, food retail can also exhibit traits of monopolistic competition, where numerous retailers offer similar products but differentiate themselves through branding, customer service, and pricing strategies.

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