Press release
The Rise Of Online Retail Fuels Growth In Discount Department Stores: An Emerging Driver Transforming The Discount Department Stores Market Landscape
Discount Department Stores Market Size
What Is the Projected Growth of the Discount Department Stores Market?
The discount department stores market has seen significant growth in recent years, with an expected rise from $464.53 billion in 2024 to $505.72 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. The growth can be attributed to the appeal of offering quality products at lower prices, increasing urbanization, busy lifestyles, the expansion of e-commerce, and a growing demand for environmentally friendly department stores.
The discount department stores market is expected to see strong growth, reaching $701.68 billion by 2029, at a CAGR of 8.5%. Growth is driven by online retail competition, increased internet penetration, fashion trends among youth, demand for omnichannel experiences, and growth in the apparel and accessories segment. Trends include technological advancements, the expansion of online sales, new in-house brands, large-format discount store growth, and integration with online platforms.
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What Are the Different Discount Department Stores Market Segments?
The discount department stores market covered in this report is segmented -
1) By Store Type: General Merchandise, Specialty Products
2) By Products: Clothing, Electronics, Groceries, Household Goods
3) By Distribution: Offline, Online
Subsegments:
1) By General Merchandise: Apparel And Footwear, Household Goods And Appliances, Personal Care Products, Electronics And Accessories
2) By Specialty Products: Health And Wellness Products, Beauty And Cosmetics, Home Improvement And Furniture, Grocery And Food Items
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What Are the Primary Drivers Shaping the Discount Department Stores Market?
The rise in online retail sales is expected to propel the growth of the discount department store market. The convenience of online shopping, combined with competitive pricing and enhanced delivery services, is driving e-commerce growth. Discount department stores capitalize on this by offering affordable products and frequent promotions. In May 2024, the U.S. Census Bureau reported a 2.1% increase in e-commerce sales for Q1 2024, contributing to the growth of the discount department store market.
Which Companies Are Leading in the Discount Department Stores Market?
Major companies operating in the discount department stores market are Walmart Inc., Costco Wholesale Corporation, Aldi Inc., Target Corporation, Dollar General Corporation, Macy's Inc., Kmart Corporation, Meijer Inc., Ross Stores Inc., Nordstrom Inc., J.C. Penney Company Inc., Burlington Stores Inc., Dillard's Inc., Academy Sports + Outdoors, Big Lots Inc., Bed Bath & Beyond Inc., Belk Inc., Five Below Inc., Stein Mart Inc., Bealls Inc., Ollie's Bargain Outlet Holdings Inc., At Home Group Inc., Bi-Mart Corporation, Sears Holdings Corporation, Stage Stores Inc.
What Are the Major Trends Shaping the Discount Department Stores Market?
In the discount department store market, companies are opening new stores, such as fashion department stores, to attract more customers and strengthen their market position. Fashion department stores offer a wide variety of apparel, footwear, and accessories. For example, in September 2022, Reliance Industries, an India-based company, launched Reliance Centro, a new fashion and lifestyle department store aiming to democratize fashion and offer premium shopping experiences.
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What Are the Top Revenue-Generating Geographies in the Discount Department Stores Market?
North America was the largest region in the discount department stores market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the discount department stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Discount Department Stores Market?
2. What is the CAGR expected in the Discount Department Stores Market?
3. What Are the Key Innovations Transforming the Discount Department Stores Industry?
4. Which Region Is Leading the Discount Department Stores Market?
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