The aim of this paper is to analyze retail development in Serbia under the conditions of globalization and internationalization in business. The starting point is in current trends in trade in both EU and transitional countries. Macro environmental factors affecting trade development have been investigated as well as indicators related to the number of trade companies, real turnover, employment rate, etc. On the basis of the indicators outlined, the present state of trade in Serbia has been observed and prospect trends have been pointed out. Some assumptions about future successful development along with the increasing competitiveness of Serbian trade have also been made.