With the continuous development of smart grid and further restructuring of power industry, modern power systems have been transformed to complex cyber-physical systems characterized with high renewable energy penetrations, distributed facilities, advanced metering, and communication technologies, as well as ever-increasing customer awareness. These new development trends pose significant challenges for electricity retailers and call for innovative decision-making methods. To help researchers and engineers have a better overview of the state-of-the-art on electricity retail decision-making schemes, this paper aims to survey the latest progress on this subject. Some critical and open issues in this field are also discussed.