Global Convenience, Mom And Pop Stores Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The convenience, mom and pop stores market consists of sales of goods and some services through convenience, mom and pop stores by entities (usually sole traders or partnerships but in some cases organizations) that provide the retail service of supplying food, toiletries and other daily `necessities` to their consumers through conveniently located small stores.

Global Convenience, Mom And Pop Stores Market Size And Drivers:

The global convenience, mom and pop stores market is expected to grow from $908.19 billion in 2020 to $963.5 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.33 trillion in 2025 at a CAGR of 9%. 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. Thus, this is expected to drive the market going forward.

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Trends In The Global Convenience, Mom And Pop Stores Market

Convenience, mom and pop stores are increasingly adopting the concept of unmanned convenience stores. Unmanned convenience store concept uses artificial intelligence and smart phone concepts to eliminate the use of service personnel or cashiers in the store. The unmanned convenience stores maintain a virtual cart for every customer that enters the stores where the products are added and removed based on the customer’s action. The deduction of amount takes place when the customer scans the product using a smart phone.

Global Convenience, Mom And Pop Stores Market Segments:

The global convenience, mom and pop stores market is further segmented based on type, ownership and geography.
By Type: Convenience Stores, Mom And Pop Stores
By Ownership: Retail Chain, Independent Retailer
By Geography: The global convenience, mom and pop stores market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Asia Pacific was the largest region in the global convenience, mom and pop stores market, accounting for 53% of the total market.

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Convenience, Mom And Pop Stores Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides convenience, mom and pop stores market overviews, analyzes and forecasts market size and growth for the global convenience, mom and pop stores market, convenience, mom and pop stores market share, convenience, mom and pop stores market players, convenience, mom and pop stores market segments and geographies, convenience, mom and pop stores market’s leading competitors’ revenues, profiles and market shares. The convenience, mom and pop stores market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.