Global Convenience, Mom And Pop Stores Market to Reach $2045.14 Billion by 2029, Growing at 9.1% CAGR

What combination of drivers is leading to accelerated growth in the convenience, mom and pop stores market?
Mom-and-pop stores, as well as convenience stores, are beginning to implement a strong, unified approach to data analytics in their management systems. Such technology is critical for harmonizing supply chain functionalities, simplifying processes that attract and retain customers, and fostering loyalty. Data has grown to play a fundamental role in various retail actions. For example, the World Economic Forum, a Switzerland-based non-governmental organization, estimated that in July 2023, 60% of businesses believe big data and analytics to be increasingly important; this technology is predicted to fuel job creation over the ensuing 5 years. Furthermore, between 2023 and 2027, data analytics and data science are projected to generate about 1.4 million new employment opportunities. The exponential growth of retail data, coupled with the advent of data analysis technology, will make it progressively effortless for convenience stores and mom-and-pop shops to understand and fulfill their customer's demands and anticipations, thus propelling the market continually onwards.

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What is the projected compound annual growth rate (CAGR) of the convenience, mom and pop stores market from 2025 to 2034, and what factors influence it?
The market size of convenience and mom and pop stores has witnessed a significant increase in the past few years. This development is set to continue, with its value projected to rise from $1289.14 billion in 2024 to $1443.7 billion in 2025, growing at a compound annual growth rate (CAGR) of 12.0%. The impressive growth experienced during the historical period is due to the vigorous economic progress in emerging markets, a surge in urban population density, foreign direct investments in the retail sector in developing nations, and the growing acceptance of the franchising business model.

The market size of convenience, mom and pop stores is projected to undergo significant expansion in the coming years, expanding to a value of $2045.14 billion in 2029 at a compound annual growth rate of 9.1%. This growth expected in the forecast period can be attributed to advancements in technology, the influence of data analytics, an increase in consumer preference for local shopping, extended opening hours and smaller store spaces. Major trends projected within this period include investing in contactless convenience stores for ease of maintenance and cost reduction, automation techniques to optimize store operations, investment in IoT solutions to heighten efficiency and enhance decision-making in store management, integrating robotics to boost customer convenience and the store's productivity, offering various food choices to the customers to augment revenues, forming alliances with renowned brands to expand their customer reach, and to decrease costs and enhance sales, convenience, mom and pop stores should consider integrating digital platforms.

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How are the latest trends influencing the growth of the convenience, mom and pop stores market?
The idea of unstaffed convenience stores is becoming increasingly popular among small businesses and convenience stores. This innovative concept leverages artificial intelligence and mobile technology to create a shopping experience that doesn't rely on service staff or cashiers. Each shopper is assigned a virtual cart once they enter the store, where items are added or removed based on their activity. The payment process is carried out through the customer's smartphone, where they scan the chosen products. In line with this trend, Omantel released E-Dukkan in January 2022, marking the Middle East's first introduction to this concept. Other players in this emerging market include Amazon Go, Alibaba's Hema, and Bingo Box.

What are the major segments of the convenience, mom and pop stores market and their role in driving growth?
The convenience, mom and pop stores market covered in this report is segmented -

1) By Type: Convenience Stores, Mom And Pop Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By Price Range: Premium, Mid-Range, Economy

Subsegments:
1) By Convenience Stores: Chain Convenience Stores, Independent Convenience Stores, Gas Station Convenience Stores, Urban Convenience Stores, Rural Convenience Stores
2) By Mom And Pop Stores: Grocery Stores, Specialty Food Stores, Neighborhood Shops, Family-Owned Retailers, Local Convenience Shops

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Which regions are key players in the growth of the convenience, mom and pop stores market?
Asia-Pacific was the largest region in the convenience, mom, and pop stores market in 2024. Africa was the second-largest region in the convenience, mom, and pop stores market. The regions covered in the convenience, mom and pop stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the key firms paving the way for growth in the convenience, mom and pop stores market?
Major companies operating in the convenience, mom and pop stores market include Seven & I Holdings Co. Ltd., Carrefour SA, Auchan Holding SA, Alimentation Couche-Tard Inc., FamilyMart, Wawa Inc., Kwik Trip Inc., EG Group, Love's Travel Stops & Country Stores, Bianlifeng, Suning Xiaodian, Lawson, Ministop, Metcash, Think Convenience, GS25, SPAR, Tesco, Musgrave, Sainsbury's, Co-operative Group Limited, McColl's, Groupe casino*, Profi, Stokrotka Sp. z o.o., Perekrestok Express, Magnit, Zabka, Spolem, Groszek, Eurocash, Casey's general stores, Marathon Petroleum Corporation, Raízen Conveniências, Cencosud, Cia Brasileira de Distribuicao, Savola, Almeera Group, Al Madina Group, Lulu, Circle K, FreshStop, Food Lover's Market, Pick n Pay, Shoprite, Freshzo Foods



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What Is Covered In The Convenience, Mom And Pop Stores Global Market Report?

•Market Size Forecast: Examine the convenience, mom and pop stores market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the convenience, mom and pop stores market for a structured understanding.
•Key Players Overview: Analyze major players in the convenience, mom and pop stores market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the convenience, mom and pop stores market.
•Segment Contributions: Evaluate how different segments drive overall growth in the convenience, mom and pop stores market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the convenience, mom and pop stores market.
•Industry Challenges: Identify potential risks and obstacles affecting the convenience, mom and pop stores market.
•Competitive Landscape: Review strategic developments in the convenience, mom and pop stores market, including expansions, agreements, and new product launches.

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