Convenience, Mom And Pop Stores Global Market Worth $1,822.13 Billion By 2028 Rapid Growth Predicted CAGR of 9.8% | Carrefour SA, Wawa Inc., Kwik Trip Inc., EG Group, Freshzo Foods

Overview and Scope
Convenience, 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.

Sizing and Forecast
The convenience, mom and pop stores market size has grown rapidly in recent years. It will grow from $1133.71 billion in 2023 to $1255.47 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.

The convenience, mom and pop stores market size is expected to see strong growth in the next few years. It will grow to $1822.13 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to technology advancement, impact of data analytics, growing consumer preference for shopping local and longer open hours and the less store space. Major trends in the forecast period include investing in contact-free convenience store for ease of maintenance and cost reduction, automation techniques to streamline store operations, invest in iot solutions to improve efficiency and enhance the decision-making process in stores operations, adopting robotics to improve customers’ convenience and the store’s productivity, offering different food options to their consumers to increase their revenues, collaborating with well-known brands to grow their customer base, and reduce cost and increase sales, convenience, mom and pop stores must consider adopting digital platforms..

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Segmentation & Regional Insights
The convenience, mom and pop stores market covered in this report is segmented –
1) By Type: Convenience Stores, Mom And Pop Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By Price Range: Premium, Mid-Range, Economy

Asia-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

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Major Driver Impacting Market Growth
Convenience, mom-and-pop stores are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty. Data has become critical for most retail operations. For instance, in July 2023, according to the World Economic Forum, a Switzerland-based non-governmental organization (NGO), 60% of corporations think that big data and analytics capabilities are becoming more crucial and this technology is most likely to result in the creation of new jobs over the next 5 years. Additionally, between 2023 and 2027, data science and data analytics may create up to 1.4 million new jobs .With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for convenience, mom and pop stores to identify and meet the needs and expectations of their customers, which is expected to drive the market going forward.

Key Industry Players
Major companies operating in the convenience, mom and pop stores market report are Seven & I Holdings Co. Ltd., Carrefour SA, Auchan Holding SA, Alimentation Couche-Tard Inc., FamilyMart, Wawa Inc., Kwik Trip Inc., EG Group, Love’s Travel Stops & Country Stores, Casey’s General Stores, Inc., Bianlifeng, Suning Xiaodian, Lawson, Ministop, Metcash, Think Convenience, GS25, SPAR, Tesco, Musgrave, Sainsbury’s, Co-operative Group Limited, McColl’s, Groupe Casino, Profi, Stokrotka Sp. z o.o., Perekrestok Express, Magnit, Zabka, Spolem, Groszek, Eurocash, 7-Eleven, Yesway, Casey’s general stores, Marathon Petroleum Corporation, Raízen Conveniências, Cencosud, Cia Brasileira de Distribuicao, Savola, Almeera Group, Al Madina Group, Lulu, Circle K, FreshStop, Food Lover’s Market, Pick n Pay, Shoprite, Freshzo Foods

The convenience, mom and pop stores market report table of contents includes:
1. Executive Summary