Global Department Stores & Other General Merchandise Stores Market Size, Forecasts, And Opportunities

December 15, 2021December 15, 2021 by The Business Research Company

Learn about the global department stores & other general merchandise stores market through The Business Research Company, which provides information on department stores & other general merchandise stores market size, department stores & other general merchandise stores market drivers and restraints, department stores & other general merchandise stores market players, the COVID-19 impact on the department stores & other general merchandise stores market, and more.

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The global department stores & other general merchandise stores market is expected to grow from $1439.01 billion in 2020 to $1756.24 billion in 2021 at a compound annual growth rate (CAGR) of 22%. 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 $2175.97 billion in 2025 at a CAGR of 6%.

With the rapid growth in retail data and the availability of technologies to analyse data it will become easier for convenience, mom and pop stores to identify and meet the needs and expectations of their customers, thus it is expected to drive the market going forward.

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The department stores & other general merchandise stores market consists of sales of goods and services by entities (organizations, sole traders and partnerships) that are engaged in retailing new merchandise, such as apparel, jewelry, home furnishings, toys, groceries and other merchandise. Department stores may have separate customer checkout areas in each department, central customer checkout areas, or both.

Global department stores & other general merchandise stores market segments include:

By Type: Department Stores, Other General Merchandise Stores

By Ownership: Retail Chain, Independent Retailer

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global department stores & other general merchandise stores market, accounting for 43% of the market in 2020.

Self-checkout technology is being widely used in department stores, specialty stores, and small convenience stores to automate payments. Self-checkout systems are integrated with a mobile software application to collect purchase data and to automatically receive payment. They make use of Near Field Communication (NFC) or quick response code (QR code), which is a machine-readable optical label. This eliminates the need for checkouts, queues, loading and unloading and employees to operate the checkout counter. This type of automation reduces operational costs and saves the time spent on manual billing.

TBRC’s department stores & other general merchandise stores market report covers:

Major Market Players: Wal-Mart, Costco, Kroger, Schwarz Unternehmens Treuhand KG, Carrefour.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Department Stores & Other General Merchandise Stores Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides department stores & other general merchandise stores market overviews, analyses and forecasts market size, share, department stores & other general merchandise stores market players, department stores & other general merchandise stores market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s department stores & other general merchandise stores market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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