Convenience Stores Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2031

Global convenience stores market is anticipated to grow at a considerable CAGR of 29.4 during the forecast period (2024-2031). The consumers' growing preference for convenient shopping options due to their busy lifestyles is a key factor driving the global convenience stoes market. Convenience businesses are adopting cashier less checkout and AI-assisted scheduling with the artificially powered technologies. AI has made it possible for convenience stores to reduce some of the costs related to conducting business through transactions, particularly in light of the rising labour costs in Western countries

Convenience stores offers customer's discounts on purchases made through digital transactions as to promote more cashless transaction. In response, these stores are introducing loyalty programs, which provide customers membership-specific rates and other rewards for their purchases in an effort to foster consumer loyalty. Global convenience shop revenues and customer loyalty are rising due to the use of technology-enabled solutions and other strategies.

In February 2024, the convenience store chain 7-Eleven Japan, beginsthe operation of small outlets without any storefront staff in the spring. This is a turning point in Japan's retail industry as the country is facing a serious labour shortage. Seven-Eleven is open unmanned stores in locations where it is difficult to open stores in the past, such as tower condominiums and inside factories. Smartphone payments is used to streamline the checkout operations.

Further, in January 2022, Parkland Corp. announced an agreement to acquire M&M Food Market. M&M is a premium, restaurant-quality frozen food retailer which is very popular in Canada. This acquisition represents one of many steps takenfor retail diversification strategy and to expand proprietary food offered by the company to increase the customer rea

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Market Coverage

• The market number available for - 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

Segment Covered-

• By Product Type

• By Store Type

• By Ownership

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- includes Casey's General Stores, Inc, Alimentation Couche-Tard Inc., Murphy USA Inc., FEMSA, 7-Eleven Inc. and FamilyMart Co. Ltd.,among others.

Convenience Stores Market Report Segment

By Product Type

• Staples

• Snacks & Beverages

• Packaged Food

• Personal & Baby Care

• Household Care

• Dairy & Eggs

• Home & Kitchen

By Store Type

• Kiosks

• Mini Convenience Stores

• Limited Selection Convenience Stores

• Traditional Convenience Stores

• Expanded Convenience Stores

• Hyper Convenience Stores

By Ownership

• Independent retailer

• Retail chain

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Convenience Stores Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• Alfamart

• FamilyMart Co. Ltd.

• FEMSA

• Indomaret

• Lawson Inc.

• Magnit

• Meiyijia

• Murphy USA Inc.

• Parkland

• Pyaterochka

• uSmile

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