The Business Research Company’s Convenience, Mom And Pop Stores Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, June 29, 2021 /EINPresswire.com/ — Mom and pop convenience store market trends include such stores increasingly entering into agreements with brands such as Starbucks and Krispy Kreme for mutual benefits. To increase their brand awareness, big brand manufacturers such as Starbucks, Krispy Kreme, and Costa Coffees increasingly allow small convenience stores to sell their products. The convenience stores get more sales on these products as they are well known. In 2016, Krispy Kreme Doughnuts had announced a partnership with TSW Foods LLC, a convenience store chain in the US to bring Krispy Kreme brand packaged sweet treats such as snack bags, honey buns and single-serve pies to convenience stores across the United States. Dunkin Doughnuts has also collaborated with chains such as Price Chopper to increase their brand awareness.
Convenience, mom and pop stores are neighborhood retail outlets. In the case of TBRC’s report, it refers only to those which sell a limited range of food and groceries such as prepared and ready-to-eat foods, bottled and fountain beverages, household staples, basic toiletries, tobacco products, periodicals and other essential items. These types of stores are mostly smaller in size, generally around 300 square meters, have limited employees, and are open for extended hours. Convenience, mom and pop stores can be a family-owned business or a retail chain business.
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The global convenience, mom and pop stores market is expected to grow from $908.19 billion in 2020 to $963.5 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1339.8 billion in 2025 at a CAGR of 9%.
Asia Pacific is the largest region in the global convenience, mom and pop stores market, accounting for 53% of the market in 2020. Africa is the second largest region accounting for 15% of the global market. Eastern Europe is the smallest region in the convenience stores market and mom and pop stores market.
Major companies in the convenience store industry include 7-Eleven, FamilyMart, Alimentation Couche-Tard, Lawson, OXXO.
The global convenience, mom and pop stores market is segmented by type into convenience stores, mom and pop stores and by ownership into retail chain, independent retailer.
Global Convenience, Mom And Pop Stores Market – By Type (Convenience Stores, Mom And Pop Stores), By Ownership (Retail Chain, Independent Stores), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides convenience, mom and pop stores market overview, forecast convenience, mom and pop stores market size and growth for the whole market, convenience, mom and pop stores market segments, and geographies, convenience, mom and pop stores market trends, convenience, mom and pop stores market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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