Convenience, Mom And Pop Stores Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, July 19, 2024 /EINPresswire.com/ -- The convenience, mom and pop stores market has experienced robust growth in recent years, expanding from $1,133.71 billion in 2023 to $1,255.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing population density in urban areas, FDI in retail in developing countries and rising popularity of the franchising concept.
Strong Future Growth Anticipated The convenience, mom and pop stores market is projected to continue its strong growth, reaching $1,822.13 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to technological advancement, impact of data analytics, growing consumer preference for shopping local and longer open hours and the less store space.
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Growth Driver Of The Convenience, Mom And Pop Stores MarketThe growing consumer preference for personalized shopping is expected to propel the convenience, mom-and-pop stores market going forward. Personalized shopping refers to the tailored retail experience that caters to an individual customer's preferences, behaviors, and purchasing history. Convenience, mom-and-pop stores are small-scale, frequently family-run businesses that optimize their earnings by offering personalized hands-on services tailored to their customers' needs.
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Major Players And Market TrendsKey players in the convenience, mom and pop stores market include Seven & I Holdings Co. Ltd., Carrefour SA, Auchan Holding SA, Alimentation Couche-Tard Inc., FamilyMart, Wawa Inc., Kwik Trip Inc.Major companies operating in convenience, mom-and-pop stores are introducing contact-free stores to increase their revenue in the market. A contact-free store is a retail establishment that uses technology to allow customers to shop without the need for direct human interaction during the shopping and checkout process.
Segments:1) By Type: Convenience Stores, Mom And Pop Stores2) By Ownership: Retail Chain, Independent Retailer3) By Price Range: Premium, Mid-Range, Economy
Geographical Insights: Asia-Pacific Leading The MarketAsia-Pacific was the largest region in the convenience, mom, and pop stores market in 2023. Africa was the second-largest region in the convenience, mom, and pop stores market. The regions covered in the convenience, mom and pop stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Convenience, Mom And Pop Stores Market DefinitionConvenience, mom and pop stores are stores that provide the retail service of supplying food, toiletries, and other daily 'necessities' to their consumers through conveniently located small stores.
Convenience, Mom And Pop Stores Global Market Report 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Convenience, Mom And Pop Stores Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on convenience, mom and pop stores market size, convenience, mom and pop stores market drivers and trends, convenience, mom and pop stores market major players, convenience, mom and pop stores competitors' revenues, convenience, mom and pop stores market positioning, and convenience, mom and pop stores market growth across geographies. The convenience, mom and pop stores market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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July 19, 2024, 12:40 GMT
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