Department Stores And Other General Merchandise Stores Industry Outlook 2025-2029: Market Set to Cross $3726.84 Billion Milestone

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How Large Will the Department Stores And Other General Merchandise Stores Market Size By 2025?
The market size for department stores and various other general merchandise stores has seen significant growth in the recent past. The size is projected to increase from $2735.27 billion in 2024 to $2907.73 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this growth during the historic period include economic circumstances, changes in consumer preference, technological progress, and globalization.

How Big Is the Department Stores And Other General Merchandise Stores Market Size Expected to Grow by 2029?
The market size of department stores and other general merchandise stores is anticipated to significantly increase in the upcoming years, projected to reach $3726.84 billion in 2029, with a compound annual growth rate (CAGR) of 6.4%. Factors contributing to growth in this forecast period include the rise of e-commerce and online shopping, enhanced customer experience and personalization, digitization of retail, and integration of retail technology. Key trends during the forecast period, such as e-commerce and omnichannel retailing, sustainability and ethical practices, flexible store formats, and international expansion, are also expected to play a vital role.

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Which Key Market Drivers Powering Department Stores And Other General Merchandise Stores Market Expansion and Growth?
The implementation of a comprehensive and robust strategy for data analytics is being embraced by department stores and various other general merchandise stores. The primary purpose of this technology is to strengthen supply chain efficiency, streamline operational activities, improve customer engagement, and foster loyalty. In retail operations, the significance of data has escalated considerably. For example, the World Economic Forum, a non-profit organization based in Switzerland, reported in July 2023 that 60% of corporations believe big data and analytics to be increasingly important, with the potential to generate new jobs in the subsequent five years. Furthermore, between 2023 and 2027, the fields of data science and data analytics could initiate up to 1.4 million new job opportunities. The burgeoning growth in retail data, coupled with advanced data analysis technologies, is anticipated to make it simpler for convenience and mom and pop stores to comprehend and cater to the desires and expectations of their customers, hence propelling the market growth in the future.

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Which Fast-Growing Trends Are Poised to Disrupt the Department Stores And Other General Merchandise Stores Market?
Self-checkout technology is becoming increasingly common in department stores, specialty shops and small convenience stores, enabling payments to be automated. These systems are paired with a mobile software application that gathers purchasing information and automatically processes payments. They use Near Field Communication (NFC) or quick response code (QR code) - a machine-readable optical label, doing away with the need for checkouts, lines, packing and unpacking, as well as checkout staff. This automation not only lowers operational expenses but also saves time usually spent on manual checkout procedures. Retail stores in the USA and UK are particularly exploiting these self-checkout systems. For example, a cross-country survey on self-service checkouts revealed that 90% of participants have used self-checkouts, with Australia and Italy being the major users. Wal-Mart has deployed 10,000 self-checkout systems in its 1,200 US stores.

What Are the Emerging Segments in the Department Stores And Other General Merchandise Stores Market?
The department stores and other general merchandise storesmarket covered in this report is segmented -

1) By Type: Department Stores, Other General Merchandise Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By License: Branded, Brand Licensed, Unbranded

Subsegments:
1) By Department Stores: Full-Line Department Stores, Discount Department Stores, Specialty Department Stores, Other Department Stores
2) By Other General Merchandise Stores: Warehouse Clubs, Supercenters, Convenience Stores, Variety Stores, Dollar Stores, Online General Merchandise Stores, Other General Merchandise Retailers

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Who Are the Global Leaders in the Department Stores And Other General Merchandise Stores Market?
Major companies operating in the department stores and other general merchandise stores market include Walmart Inc., Costco Wholesale Corp, Target Corporation, Carrefour SA, Dollar General Corporation, Aeon Co. Ltd., Suning.com Co. Ltd., Macy's Inc., Kohl's Corporation, Tesco PLC, Amazon.com Inc., The Home Depot Inc., Lowe's Companies Inc., Best Buy Co. Inc., Penney OpCo LLC, Sears Holdings Corporation, Ross Stores Inc., Burlington Stores Inc., TJX Companies Inc., Big Lots Stores Inc., Five Below Inc., Ollie's Bargain Outlet Holdings Inc., Bed Bath & Beyond Inc., Michaels Stores Inc., Tractor Supply Company, At Home Group Inc., dic*k's Sporting Goods Inc., Academy Sports and Outdoors Inc., PetSmart Inc., Party City Holdco Inc., Ulta Beauty Inc., Sally Beauty Holdings Inc., Office Depot Inc.

Which are the Top Profitable Regional Markets for the Department Stores And Other General Merchandise Stores Industry?
North America was the largest region in the department stores & other general merchandise stores market in 2024. Asia-Pacific was the second-largest region in the department stores & other general merchandise stores market. The regions covered in the department stores & other general merchandise stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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