Convenience, mom and pop stores are trending towards using mobile applications to meet customer needs individually. App-based solutions are quickly and easily homogenized into the retailer’s Omni channel. An insightful combination of various hardware and software components is required. For instance, the RetailConnect interface software is used for integrating ERP systems, scales and labelers, enabling the integration of third-party solutions in addition to prevailing Bizerba fundamentals.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL CONVENIENCE, MOM AND POP STORES MARKET AT $4.2 TRILLION IN 2017
Asia Pacific was the largest region in the convenience, mom and pop stores market in 2017, accounting for nearly 30% of the global market.
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The chart below shows the year-on-year growth of the global convenience, mom and pop stores market during 2017 – 2021
According to The Business Research Company’s Consultant, Oliver Guirdham, most of the convenience, mom and pop Stores have adopted digital technologies. Mom-and-pop retailers have started using digital systems for payments through smartphones. Buyers that do not own a smartphone use Unified Payment Interface (UPI) for payments. SMS-based payments are also getting popular among mom-and-pop retailers. The emergence of startups like SnapBizz, XLogix, Stock Wise, FonePaisa and SuperZop has also helped these retailers to create systems to go digital.
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7-Eleven was the largest competitor in the market, generating revenues of $5.3 billion in the year 2017. 7-Eleven’s growth strategy is to restructure the store layout. The company will rename their existing 7 categories. It is also focusing on improving its merchandise mix, new stores and consumer promotion activity.
Convenience Stores comprises establishments known as convenience stores or food marts (except those with fuel pumps) primarily engaged in retailing a limited line of goods that generally includes milk, bread, soda, and snacks.
Mom And Pop Stores comprises establishments known as mom and pop stores (except those with fuel pumps) primarily engaged in retailing a limited line of goods that generally includes milk, bread, soda, and snacks.
Convenience, Mom And Pop Stores Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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