Press release
Hypermarkets Market Outlook 2024: Exclusive Report By The Business Research Company | Albrecht-Diskont (ALDI), Walmart Inc., Carrefour, Edeka Group, Lotte Corporation, Renrenle Commercial Group Co. Ltd
Hypermarkets Market Characteristics
The Business Research Company offers in-depth market insights through Hypermarkets Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
The hypermarkets are owned by retail chains and independent retailers. A retail chain is a group of stores owned and operated under a franchise or license on behalf of one entity where the sale of consumer goods intended for personal use is made. The goods are distributed through traditional marketing channels (offline) and online channels for various applications including consumer electronics, furniture, food and beverage, toy and stationery, personal care, cosmetics, home textile, dress, and others.
Major Driver - Personalization Driving Growth In The Hypermarkets Market
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.
Competitive Landscape:
Major companies operating in the hypermarkets market report are Albrecht-Diskont (ALDI), Walmart Inc., Carrefour, Edeka Group, Lotte Corporation, Renrenle Commercial Group Co. Ltd., RT-Mart International Ltd., Beijing Hualian Group, Target Corporation, Costco Wholesale Corporation, E. Leclerc, Metro Cash & Carry, Auchan, Emart Inc., Shinsegae Inc.
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Top Trend - Artificial Intelligence Revolutionizes Customer Experience In The Hypermarkets Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Hypermarkets Market Characteristics
3. Hypermarkets Market Trends And Strategies
4. Hypermarkets Market - Macro Economic Scenario
5. Hypermarkets Market Size And Growth
…..
27. Hypermarkets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, 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.
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