(MENAFN- PR Newswire) DUBLIN, Sept. 19, 2023 /PRNewswire/ -- The
"Hypermarkets Global Market Report 2023" report has been added to
ResearchAndMarkets.com's offering.
The global
hypermarkets market is on a trajectory of robust growth, with projections indicating an increase from $1,667.71 billion in 2022 to $1,810.42 billion in 2023, representing a compelling Compound Annual Growth Rate (CAGR) of 8.6%. Furthermore, the hypermarkets market is expected to continue its expansion, reaching $2,400.19 billion by 2027 at a CAGR of 7.3%.
Key Players in the Hypermarkets Market
Major players shaping the hypermarkets market landscape include industry leaders such as Albrecht-Diskont (ALDI), Walmart Inc., Carrefour, Edeka Group, Lotte Corporation, Renrenle Commercial Group Co. Ltd., RT-Mart International Ltd., Beijing Hualian Group, Target Corporation, Fonciere Euris SA, Costco Wholesale Corporation, E. Leclerc, Metro Cash & Carry, Auchan, and Schwarz Beteiligungs GmbH.
Compelling Reasons to Explore the Hypermarkets Market
Investors, businesses, and stakeholders are encouraged to take note of this market's potential due to the following compelling factors:
Global Perspective : This comprehensive report covers over 50 geographies , offering a truly global perspective on the hypermarkets market. COVID-19 Impact : Understand how the market has responded to the coronavirus pandemic and its evolving dynamics as the impact wanes. Geopolitical Influences : Assess the impact of the Russia-Ukraine conflict on agriculture, energy, mineral commodity supply, and its direct and indirect effects on the market. Inflation Analysis : Measure the effects of high global inflation on market growth. Localized Strategies : Create regional and country-specific strategies based on local data and analysis. Identify Growth Segments : Identify growth segments within the market for strategic investment opportunities. Outperform Competitors : Utilize forecast data and insights into the drivers and trends shaping the market to gain a competitive edge. Customer Understanding : Gain insights into customer preferences and market shares for informed decision-making. Benchmark Performance : Compare your performance against key competitors to refine your strategies. Data-Driven Presentations : Access reliable high-quality data and analysis for impactful internal and external presentations. Hypermarkets: The Ultimate Retail Destination
A hypermarket is a versatile retail store that combines the features of a department store and a grocery supermarket, offering consumers a one-stop shopping experience under a single roof.
Hypermarkets are typically owned by retail chains and independent retailers. Retail chains operate a group of stores under a franchise or license, providing consumers with a wide range of goods for personal use. These goods are distributed through both traditional marketing channels (offline) and online platforms, covering diverse categories such as consumer electronics, furniture, food and beverage, toys and stationery, personal care, cosmetics, home textiles, apparel, and more.
Technological Advancements Transforming Hypermarkets
Artificial intelligence (AI) is a pivotal trend gaining momentum in the hypermarkets market. Major companies in the sector are adopting AI to enhance their market position. AI in this context focuses on creating intelligent machines and computer programs that replicate human intelligence. For instance, LuLu Group International, a prominent Indian Emirati-based conglomerate operating hypermarkets and retail companies, introduced "Salem," an AI-powered customer service channel on WhatsApp. This innovative service allows customers to receive in-app purchase receipts, track online order deliveries, and seek purchase-related assistance. Salem, powered by Yellow.ai, a US-based Conversational AI platform, significantly enhances customer engagement throughout their buying journey through deep backend integration with the retailer's CRM and Order Management system, leading to a remarkable 60% increase in customer satisfaction.
North America Leads the Way
In 2022, North America emerged as the largest region in the hypermarkets market. The report encompasses key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa. Furthermore, it delves into essential countries like Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Personalization Drives Market Expansion
The creation of personalized experiences is expected to propel the growth of the hypermarkets market in the foreseeable future. Personalization entails tailoring communication and services based on an organization's understanding of individual customers. Such personalized experiences empower manufacturers, hypermarkets, and supermarkets to optimize their financial returns. As of May 2022, senior marketing leaders reported a 5%-15% increase in revenue, directly attributed to successful personalization implementation, according to a report published by Psychology & Marketing (P&M), a West Sussex-based research publisher. This underscores the driving force of personalized experiences in the hypermarkets market.
About the Hypermarkets Market Report
This hypermarkets market research report is part of a comprehensive series of reports offering invaluable insights into the hypermarkets market. It covers hypermarkets market statistics, global market size, regional market shares, competitor analysis, detailed market segments, trends, opportunities, and more. The report empowers stakeholders with a holistic view of the industry's current and future landscape.
Market Value Clarification
The market value encompasses revenues earned by entities offering services such as grocery sales, online shopping, merchandise displays, and product information provision. It also includes the value of related goods sold by the service provider or included within the service offering. The market value specifically includes goods and services traded between entities or sold to end consumers.
Key Topics Covered:
1. Executive Summary
2. Hypermarkets Market Characteristics
3. Hypermarkets Market Trends And Strategies
4. Hypermarkets Market - Macro Economic Scenario
4.1. COVID-19 Impact On Hypermarkets Market
4.2. Ukraine-Russia War Impact On Hypermarkets Market
4.3. Impact Of High Inflation On Hypermarkets Market
5. Hypermarkets Market Size And Growth
5.1. Global Hypermarkets Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Hypermarkets Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Hypermarkets Market Segmentation
6.1. Global Hypermarkets Market, Segmentation By Ownership, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Retail Chain Independent Retailer
6.2. Global Hypermarkets Market, Segmentation By Marketing Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Traditional Marketing Channel (Offline) Online Channel
6.3. Global Hypermarkets Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Consumer Electronics Furniture Food and Beverage Toy And Stationery Personal Care Cosmetic Home Textile Dress Other Applications
7. Hypermarkets Market Regional And Country Analysis
7.1. Global Hypermarkets Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Hypermarkets Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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