The Business Research Company’s Mom and Pop Store Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The mom-and-pop store market is on a rapid growth trajectory, expected to rise from $122.97 billion in 2023 to $142.78 billion in 2024 at a CAGR of 16.1%. This growth is fueled by local community support, personalized service, niche offerings, flexibility, and community engagement.
What Is the Estimated Growth Rate and Market Size of the Global Mom and Pop Store Market?
The mom-and-pop store market is expected to experience rapid growth, projected to reach $246.67 billion by 2028, with a CAGR of 14.6%. This growth is driven by an emphasis on local and sustainable products, adaptability to changing consumer preferences, collaboration with local artisans, enhancement of customer experiences, and resilience in crises. Key trends include the integration of digital presence and e-commerce, digital transformation for small businesses, focus on local and artisanal products, and community engagement.
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What Are The Significant Drivers Behind The Growth Of The Mom and Pop Store Market?
Personalized customer service is projected to drive the growth of the mom-and-pop store market. Personalized customer service involves providing tailored assistance to customers based on their individual needs by the store owners or employees. The trend towards personalized service is a response to customers' growing awareness of the impact of their purchasing decisions and their demand for unique products, which enhances the overall customer experience, satisfaction, and retention, ultimately fostering customer loyalty for mom-and-pop stores.
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Which Top Companies Are Shaping The Growth Of The Mom and Pop Store Market?
Major companies operating in the market report are ITOCHU Corporation, Seven & i Holdings Co Ltd., 7-Eleven Inc. Alimentation Couche-Tard Inc., Auchan Holding SA, Casino Guichard-Perrachon SA, Murphy USA Inc., Love's Travel Stops & Country Stores Inc., Food Lion LLC, RaceTrac Petroleum Inc., Cumberland Farms Inc., Casey's General Stores Inc., Sheetz Inc., Wegmans Food Markets Inc., Wawa Inc., QuikTrip Corporation, Pilot Company, Circle K Stores Inc. Tesco PLC, Ingles Markets Inc., Raley's Family of Fine Stores Buc-ee's Ltd., GPM Investments LLC, Kwik Trip Inc., SPAR International, The Fresh Market Inc., Holiday Stationstores Inc., Royal Farms Inc., Farm Boy Inc., Maverik Inc., WinCo Foods LLC
Which Emerging Trends Are Reshaping the Mom and Pop Store Market Size?
Technological innovation is gaining traction in mom-and-pop stores. Wisy Platforms, Inc. launched an AI platform in July 2022 to help retailers track unshown products, streamlining inventory management and reducing errors through automated tracking.
What Are The Segments In The Global Mom and Pop Store Market?
The mom and pop store market covered in this report is segmented –
1) By Type: Personal Care, Cribs And Strollers, Vitamins And Dietary Supplements, Feeding Suppliers, Toys
2) By Price Range: Premium, Mid-Range, Economy
3) By Ownership: Retail Chain, Independent Retailer
4) By Distribution Channel: Online Stores, Offline Stores
Asia-Pacific: Largest Region in the Mom and Pop Store Market
Asia-Pacific was the largest region in the mom and pop stores market in 2023. The regions covered in the mom and pop store market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Mom and Pop Store Market Definition
Mom-and-pop stores refer to small, family-owned businesses like restaurants and grocery stores that provide personalized service to local communities.
The Mom and Pop Store Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Mom and Pop Store Market Report: Trends, Opportunities, Strategies, and More
The Mom and Pop Store Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into mom and pop store market size, mom and pop store market drivers and trends, mom and pop store market major players, mom and pop store competitors' revenues, mom and pop store market positioning, and mom and pop store market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company
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