Convenience stores market statistics, convenience stores market size, convenience stores market trends, convenience stores market growth, convenience stores market forecast, convenience stores market outlook, convenience stores market overview, convenience stores market strategies, convenience stores market segments, convenience stores market growth, convenience stores market analysis, convenience stores market demand.
The convenience stores global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Convenience Stores Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The convenience stores market size has grown rapidly in recent years. It will grow from $1010.74 billion in 2023 to $1112.69 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to changing consumer lifestyles, urbanization trends, product assortment and convenience, extended operating hours, rise in single-person households..
The convenience stores market size is expected to see strong growth in the next few years. It will grow to $1575.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to digital and contactless payments, focus on health and wellness, integration of e-commerce and delivery services, sustainability initiatives, diverse and ethnic product offerings.. Major trends in the forecast period include contactless shopping and payment options, integration of ai and analytics for customer insights, collaborations with food delivery platforms, innovations in store design and layout, rise of micro-fulfillment centers..
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Scope Of Convenience Stores Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Convenience Stores Market Overview
Market Drivers –
The rise in disposable income of consumers is expected to propel the growth of the convenience store market going forward. Disposable income of the consumer refers to the amount of money left to spend and save after income tax has been deducted. The increase in consumer disposable income causes them to spend more money on goods and services, which boosts total product consumption. Thus, increasing the demand for convenience stores. For instance, in December 2022, according to the Ministry of Statistics and Program Implementation, an India-based commercial organization, the rise in disposable income of consumers increased to 274.13 million in 2022 from 238.57 million in 2021. Global disposable incomes and family spending are both projected to increase by 2.6% in 2022. Therefore, the rise in disposable income of consumers is driving the growth of the convenience stores market.
Market Trends –
Technological advancement is a key trend gaining popularity in the convenience store market. Major companies operating in the convenience store market are introducing new technologies to develop their businesses in the market. For instance, in January 2022, Amazon, a US-based online e-commerce company, launched its Just Walk Out technology in convenience stores. It enables companies to provide customers with a quick, frictionless shopping experience without the bother of checking out. The technology can be used in a wide range of industries and store sizes, particularly where there is high demand, a need to reduce wait times, or where customers are pressed for time. The technology is readily scalable for retailers to handle any volume of customers or products in the store.
The convenience stores market covered in this report is segmented –
1) By Store Type: Kiosks, Mini Convenience Store, Limited Selection Convenience Store, Traditional Convenience Store, Expanded Convenience Store, Hyper Convenience Store
2) By Ownership: Retail Chain, Independent Retailer
3) By Product Type: Cigarettes and Tobacco, Foodservice, Packaged Beverages, Center Store, Low Alcoholic Beverages, Other Product Types
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Regional Insights –
North America was the largest region in the convenience stores market in 2023. The regions covered in the convenience stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the convenience stores market report are Casey’s General Stores Inc., Alimentation Couche-Tard Inc., Murphy USA Inc., Parkland Corporation, 7-Eleven Inc., FamilyMart Co. Ltd., Alibaba Group, OXXO, Amazon.com Inc., GasBuddy Organization Inc., Best-One, BGF Retail Co. Ltd., Sunoco LP, Bargain Booze Ltd., Speedway LLC, Lawson Inc., Wawa Inc., Cumberland Farms Inc., Al Madina Hypermarket, ConocoPhillips, Love’s Travel Stops & Country Stores, Pilot Corporation, QuickChek Corporation, QuickTrip Corporation, RaceTrac Inc., Royal Farms Inc., Rutter’s Holdings Inc., Sheetz Inc., Stripes Convenience Stores, SuperAmerica LLC, Thorntons LLC, Tom Thumb Food Stores, Turkey Hill Dairy, United Dairy Farmers Inc., Yesway Holdings Inc. .
Table of Contents
1. Executive Summary
2. Convenience Stores Market Report Structure
3. Convenience Stores Market Trends And Strategies
4. Convenience Stores Market – Macro Economic Scenario
5. Convenience Stores Market Size And Growth
…..
27. Convenience Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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