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Global Department Stores & Other General Merchandise Stores Market is Forecast to Recover from COVID-19 Impact to Grow at a CAGR of 4% from 2021 and Reach $2026.5 billion in 2023

Research and Markets
·3-min read

Dublin, Dec. 29, 2020 (GLOBE NEWSWIRE) -- The "Department Stores & Other General Merchandise Stores Global Market Report 2020-30: COVID- 19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

North America was the largest region in the global department stores & other general merchandise stores market, accounting for 43% of the market in 2019. Western Europe was the second largest region accounting for 26% of the global department stores & other general merchandise stores market. Africa was the smallest region in the global department stores & other general merchandise stores market.

Developments in digital technology are helping retail stores to use interactive displays to enhance the customer shopping experience.. Interactive displays are digital displays that can be connected to a user's smartphone to increase in-store customer involvement. They offer a variety of digital touch points, allow consumers to personalize shopping, give insights to keep building the relationship with the customers, and are high on entertainment value when compared to traditional static displays. Retailers also use interactive displays to communicate value proposition s and drive incremental sales. For instance, Wal-Mart has three types of interactive displays - welcome signs, category signs, and digital end caps to provide a seamless shopping experience.

The department stores & other general merchandise stores market consists of sales by department stores & other general merchandise stores. These entities (organizations, sole traders and partnerships) sell new general merchandise from fixed point-of-sale locations toultimate users. Establishments in this subsector are unique in that they have the equipment and staff capable of retailing a large variety of goods from a single location. This includes a variety of display equipment and staff trained to provide information on many lines of products.

The global department stores & other general merchandise stores market is expected to decline from $1843.6 billion in 2019 to $1810 billion in 2020 at a compound annual growth rate (CAGR) of -1.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 4% from 2021 and reach $2026.5 billion in 2023.

Scope

Markets Covered:
1) By Type: Department Stores; Other General Merchandise Stores
2) By Ownership: Retail Chain; Independent Retailer

Companies Mentioned: Wal-Mart; Costco; Kroger; Schwarz Unternehmens Treuhand KG; Carrefour

Metrics Covered: Number of Enterprises; Number of Employees

Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, department stores & other general merchandise stores indicators comparison.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

For more information about this report visit https://www.researchandmarkets.com/r/vowo9j

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