The Convenience Stores Global Market Report 2023, provides comprehensive information on the convenience stores market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Convenience Stores Global Market Report 2023, the market size is expected to grow from $928.87 billion in 2022 to $1019.71 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global convenience stores market size is expected to reach $1434.72 billion in 2027 at a CAGR of 8.9%.
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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 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
North America was the largest region in the convenience stores market in 2022.
The table of contents in TBRC’s convenience stores market report includes:
- Executive Summary
- Convenience Stores Market Characteristics
- Convenience Stores Market Trends And Strategies
- Convenience Stores Market – Macro Economic Scenario
- Convenience Stores Market Size And Growth
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- Africa Convenience Stores Market
- Convenience Stores Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Convenience Stores Market
- Convenience Stores Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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