The Hypermarkets Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hypermarkets Global Market Report 2024, The hypermarkets market size has grown strongly in recent years. It will grow from $1784 billion in 2023 to $1924.93 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. . The growth in the historic period can be attributed to rise of urban populations, higher demand for time-saving shopping experiences, economies of scale, evolving consumer preferences, increasing adoption omni-channel retailing strategies.
The hypermarkets market size is expected to see strong growth in the next few years. It will grow to $2581.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. . The growth in the forecast period can be attributed to e-commerce integration, sustainable practices, personalization and data analytics, rising health consciousness, regulatory change. Major trends in the forecast period include digitization of operations, flexible store formats, partnerships and collaborations, experience-driven retail, rise of private labels.
The creation of personalized experiences is expected to propel the growth of the hypermarkets market going forward. Personalization refers to communication-based on an organization’s knowledge of a customer. Personalized experiences are required to meet individual demands. Personalized experience provides manufacturers, hypermarkets, and supermarkets to maximize their financial returns. For instance, in May 2022, according to the report published by Psychology & Marketing (P&M), a West Sussex-based research publisher, an increase of 5%–15% in revenue of senior marketing leaders is directly attributed to the successful implementation of personalization. Therefore, the creation of personalized experiences is driving the growth of the hypermarkets market.
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The hypermarkets market covered in this report is segmented –
1) By Ownership: Retail Chain, Independent Retailer
2) By Marketing Channel: Traditional Marketing Channel (Offline), Online Channel
3) By Application: Consumer Electronics, Furniture, Food and Beverage, Toy And Stationery, Personal Care, Cosmetic, Home Textile, Dress, Other Applications
Artificial intelligence is a key trend gaining popularity in the hypermarkets market. Major companies operating in the hypermarket market are adopting artificial intelligence to strengthen their position in the market. The creation of intelligent machines and intelligent computer programs that require human intelligence is the focus of the artificial intelligence (AI) subfield of computer science. For instance, LuLu Group International, an Indian Emirati-based conglomerate company that operates a chain of hypermarkets and retail companies, launched Salem, an AI-powered customer experience or service channel on WhatsApp by which customers will receive in-app purchase receipts, track online order deliveries, and seek purchase-related assistance. The service is powered by Yellow.ai, a US-based Conversational AI platform. Salem can effectively engage with customers throughout their buy journey owing to deep backend integration with the retailer’s CRM and Order Management system. This has significantly increased customer satisfaction by up to 60%.
The hypermarkets market report table of contents includes:
- Executive Summary
- Hypermarkets Market Characteristics
- Hypermarkets Market Trends And Strategies
- Hypermarkets Market – Macro Economic Scenario
- Global Hypermarkets Market Size and Growth
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- Global Hypermarkets Market Competitive Benchmarking
- Global Hypermarkets Market Competitive Dashboard
- Key Mergers And Acquisitions In Hypermarkets Market
- Hypermarkets Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Albrecht-Diskont (ALDI)
- Walmart Inc.
- Carrefour
- Edeka Group
- Lotte Corporation
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