Dublin, Dec. 28, 2020 (GLOBE NEWSWIRE) -- The "Convenience, Mom and Pop Stores Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global convenience, mom and pop stores market reached a value of nearly $960.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of 5.5% since 2015, and is expected to grow at a CAGR of 5.7% to nearly $1,201.3 billion by 2023. Also, the market is expected to grow to $1,370.6 billion in 2025 at a CAGR of 6.8% and to $1,851.1 billion in 2030 at a CAGR of 6.2%.
Growth in the historic period resulted from strong economic growth in emerging markets and increasing population density in urban areas. Factors that negatively affected growth in the historic period were an increase in costs and shortage of skilled workforce.
Going forward, technological advancements are expected to drive the market. Factors that could hinder the growth of the convenience, mom and pop stores market in the future include COVID-19 pandemic and geopolitical tensions.
Asia-Pacific was the largest region in the convenience, mom and pop stores market, accounting for 52.1% of the global market in 2019. It was followed by Africa, the Middle East and the other regions. Going forward, the fastest growing regions in the convenience, mom and pop stores market will be the Middle East and Asia-Pacific, where growth will be at CAGRs of 7.5% and 6.5% respectively from 2019-2023.
The global convenience, mom and pop stores market is fragmented with a large number of large players in the market. The top ten competitors in the market made up to 12.47% of the total market in 2019. Major players in the market include Seven & I Holdings Co. Ltd, Auchan Holding SA, Carrefour SA, Alimentation Couche-Tard Inc., FamilyMart, and others.
The top opportunities in the convenience, mom and pop stores market segmented by type will arise in the convenience stores market segment, which will gain $129.8 billion of global annual sales by 2023. The top opportunities in the convenience, mom and pop stores market segmented by ownership will arise in the independent retailer segment, which will gain $137.7 billion of global annual sales by 2023. The convenience stores market size will gain the most in India at $57.96 billion.
Market-trend-based strategies for convenience, mom and pop stores market include focusing on the collaboration with e-commerce players, increasing brand partnerships, offering fresh food and food -to- go and developing smart shelves. Player-adopted strategies in the convenience, mom and pop stores market include strategic mergers and acquisitions to increase geographic presence.
To take advantage of the opportunities, the publisher recommends the convenience, mom and pop stores companies to adopt new technologies, focus on providing more go food options, establish operations in emerging markets, have a well-established distribution channel design, offer competitive pricing, focus on Omni-channel approach, in personal selling, offer discount coupons or redemption cards, focus on millennials and focus on target audiences.
The global convenience, mom and pop stores market is segmented -
By Type: Convenience Stores; Mom and Pop Stores
By Ownership: Independent Retailer; Retail Chain
Countries: China, Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand, Vietnam, Canada, Mexico, USA, Argentina, Brazil, Chile, Colombia, Peru, Venezuela, Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, Czech Republic, Poland, Romania, Russia, Saudi Arabia, Israel, Turkey, UAE, Egypt, Nigeria, South Africa
Regions: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Al Madina Group
Alimentation Couche-Tard Inc.
Auchan Holding SA
Casey's General Stores, Inc
Cia Brasileira de Distribuicao (GPA)
Co-operative Group Limited
Food Lover's Market
Kwik Trip Inc.
Love's Travel Stops & Country Stores
Marathon Petroleum Corporation
Pick n Pay
Seven & I Holdings Co. Ltd
Stokrotka Sp. z o.o.
For more information about this report visit https://www.researchandmarkets.com/r/1zjrkb
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