The Miscellaneous Store Retailers 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 Miscellaneous Store Retailers, The miscellaneous store retailers market size has grown strongly in recent years. It will grow from $733.18 billion in 2023 to $779.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to consumer spending patterns, changing consumer lifestyles, retail location and accessibility, seasonal and holiday trends, popularity of niche products.
The miscellaneous store retailers market size is expected to see strong growth in the next few years. It will grow to $978.15 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to e-commerce and online retail, sustainability and ethical consumerism, consumer experience and personalization, economic conditions and disposable income, demographic changes. Major trends in the forecast period include community engagement and social responsibility, innovations in payment and checkout processes, health and wellness product offerings, partnerships with influencers and collaborations, flexible store formats and spaces.
The increasing strength of online shopping is expected to propel the growth of the miscellaneous store retailers. Online shopping refers to the activity of buying goods via electronic mediums such as mobile or computer through the internet. Increasing online shopping increases, the frequency of people viewing and purchasing miscellaneous products since many miscellaneous goods that cannot be classified under any category can be sold online and people are more likely to stumble upon such goods than in offline stores. For instance, in 2022, according to the US Department of Commerce, a department of the US government, the total retail e-commerce sales in 2022 reached $1,034.1 billion, which was an increase of 7.7% as compared to 2021. Thus, the increased popularity of digital shopping is driving the growth of the miscellaneous store retailers market.
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The miscellaneous store retailers market covered in this report is segmented –
1) By Type: Florists, Used Merchandise Stores, Pet And Pet Supply Stores, Other Types
2) By Ownership: Retail Chain, Independent Retailer
3) By Business Structure: C-Corporations, S-Corporations, Partnerships, Sole Proprietorships
Top Major Players:
Asia-Pacific was the largest region in the miscellaneous store retailers market in 2023.
Technological innovations are a key trend gaining popularity in the miscellaneous store retailers market. Major companies in the market are introducing new solutions such as EY Retail Intelligence solution that helps retailers in overcoming several challenges that emerge in retailing to sustain their position in the market. For instance, in January 2023, EY, a UK-based professional services company, launched ‘EY Retail Intelligence Solution’ an innovative solution that builds up on Microsoft Cloud and Cloud for the retail industry. The new solution has various tools for providing insights to the business about their customer traffic and other insights. It leverages innovative technologies such as artificial intelligence (AI), image recognition, and analytics to collect data from retail channels and turn them into valuable insights. The solution also provides intelligent customer recommendations, self-checkout, and the ability to view the sustainability credentials of products with a mobile phone camera.
The miscellaneous store retailers market report table of contents includes:
1. Executive Summary
2. Miscellaneous Store Retailers Market Characteristics
3. Global Miscellaneous Store Retailers Market Trends And Strategies
4. Miscellaneous Store Retailers Market – Macro Economic Scenario
5. Global Miscellaneous Store Retailers Market Size and Growth
…….
26. Miscellaneous Store Retailers Market Competitive Benchmarking
27. Global Miscellaneous Store Retailers Market Competitive Dashboard
28. Key Mergers and Acquisitions In Miscellaneous Store Retailers Market
29. Miscellaneous Store Retailers Market Future Outlook and Potential Analysis
30. Appendix
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