Mom and Pop Store Global Market Is Expected To Grow At A Rate Of Almost 16% Through 2023 – 2027
14 Jun, 2023
The global mom and pop stores market size is expected to grow from $107.89 billion in 2022 to $126.15 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mom and pop stores market size is expected to reach $227.21 billion in 2027 at a CAGR of 15.8%.
Global Mom and Pop Store Market Key Driver
Personalised customer care is predicted to drive future growth in the mom-and-pop store market. Personalised customer care refers to service provided to customers by the store's owners or workers that is tailored to each client's specific demands. Customers' awareness of the impact of their purchasing decisions and demand for unique products are driving the shift towards personalised customer service, which improves the overall customer service experience and customer satisfaction, leading to an increase in customer retention and gaining customer loyalty for mom-and-pop stores.
Get a sample of the global mom and pop store market reportGlobal Mom and Pop Store Market Segments
The global mom and pop store market is segmented:
1) By Type: Personal Care, Cribs And Strollers, Vitamins And Dietary Supplements, Feeding Suppliers, Toys
2) By Price Range: Premium, Mid-Range, Economy
3) By Ownership: Retail Chain, Independent Retailer
4) By Distribution Channel: Online Stores, Offline Stores
5) By Geography: The regions covered in the mom and pop store market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global mom and pop store market.
Major Mom and Pop Store Industry Players
Itochu Corporation, Seven & i Holdings Co Ltd, Auchan Holding SA, SPAR International, Tesco plc, Love's Travel Stops & Country Stores, Alimentation Couche-Tard Inc, 7-Eleven Inc, FamilyMart Company Ltd, Wawa Inc., Casino Guichard-Perrachon SA, Casino Guichard-Perrachon SA, Cumberland Farms, GPM Investments LLC, Circle K Stores Inc
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Mom and Pop Store Market Overview
Mom-and-pop stores refer to small, independent family-owned businesses including restaurants, bookshops, grocery stores, drug stores, and other retail offerings that operate in a single location and serve customers in their local community with a low employee base. Mom-and-Pop shops offer a friendly and individualized purchasing experience.
Mom and Pop Store Global Market Report 2023 provides data on the global mom and pop store market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The mom and pop store market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.