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The mom and pop store market has witnessed rapid growth in recent years, surging from $122.97 billion in 2023 to $142.78 billion in 2024, exhibiting a remarkable compound annual growth rate (CAGR) of 16.1%. This surge in the historic period is credited to the strong support of local communities, personalized customer service, niche and specialized product offerings, and the adaptability and agility of these small businesses, fostering community engagement. The mom and pop store market is poised for continued rapid expansion, with projections indicating a market size of $246.67 billion in 2028, representing a CAGR of 14.6%. The expected growth in the forecast period is driven by a focus on local and sustainable products, adaptive strategies aligned with evolving consumer preferences, collaboration with local artisans and producers, enhanced customer experiences, and an emphasis on crisis resilience and local support. Noteworthy trends in the forecast period include the integration of digital presence and e-commerce, digital transformation initiatives for small businesses, a sustained focus on local and artisanal products, community engagement, and the provision of personalized services, facilitated by the incorporation of technology for operational efficiency.

Personalized customer service is expected to propel the growth of the mom-and-pop store market moving forward. This tailored approach to customer service, provided by store owners or employees, caters to individual customer needs. The shift towards personalized service is driven by heightened customer awareness regarding the impact of their purchasing decisions and their demand for unique products, enhancing overall service experiences and satisfaction levels, thus fostering customer retention and loyalty for mom-and-pop stores. For instance, as per the State of the Connected Customer 5th Edition report by Salesforce in July 2022, 88% of customers emphasized the significance of the experience offered by a company, aligning it with product quality, indicating a rise from 80% in 2020. Therefore, personalized customer service emerges as a key driver for the growth of the mom-and-pop store sector. Additionally, by 2024, the mom-and-pop store market witnessed notable expansion, reaching a valuation of $3.8 trillion. Projections for 2028 suggest continued growth, with the market estimated to exceed $5 trillion.

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What Are The Key Trends That Influence Mom and Pop Store Market Share Analysis?

Technological innovations are a key trend gaining popularity in the mom-and-pop stores market. Major companies operating in the mom-and-pop stores market are involved in developing new and improved advanced technology to sustain their position in the market. For instance, in July 2022, Wisy Platforms, Inc, a US-based company operating in retail intelligence solutions, introduced an AI platform to make it simpler for retailers to keep track of any products that are available but haven’t yet been shown. WisyAI makes it possible for retail staff to swiftly learn about the inventory, cut losses, and sell products more successfully which avoids manual tracking of inventory and reduces errors.

Which Market Players Are Driving Growth In The Mom and Pop Store Market?

Major companies operating in the mom and pop store market report are ITOCHU Corporation, Seven & i Holdings Co Ltd., 7-Eleven Inc. Alimentation Couche-Tard Inc., Auchan Holding SA, Casino Guichard-Perrachon SA, Murphy USA Inc., Love’s Travel Stops & Country Stores Inc., Food Lion LLC, RaceTrac Petroleum Inc., Cumberland Farms Inc., Casey’s General Stores Inc., Sheetz Inc., Wegmans Food Markets Inc., Wawa Inc., QuikTrip Corporation, Pilot Company, Circle K Stores Inc. Tesco PLC, Ingles Markets Inc., Raley’s Family of Fine Stores Buc-ee’s Ltd., GPM Investments LLC, Kwik Trip Inc., SPAR International, The Fresh Market Inc., Holiday Stationstores Inc., Royal Farms Inc., Farm Boy Inc., Maverik Inc., WinCo Foods LLC

How Is The Global Mom and Pop Store Market Segmented?

The mom and pop store market covered in this report 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

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The Mom and Pop Store Global Market Report 2024 provides an overview of the mom and pop storemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The mom and pop store market forecast analyzes mom and pop store market size, mom and pop store market share, leading competitor and their market positions.

The Table Of Content For The Mom and Pop Store Market Include

1. Mom and Pop Store Market Executive Summary
2. Mom and Pop Store Market Segments
3. Mom and Pop Store Market Size And Template Market Growth Rate
4.  Key Mom and Pop Store Market Trends
5. Major Mom and Pop Store Market Drivers
……
25. Key Mergers And Acquisitions In The Mom and Pop Store Market
26. Top Mom and Pop Store Companies
27. Mom and Pop Store Market Opportunities And Strategies
28. Mom and Pop Store Market, Conclusions And Recommendations
29. Appendix

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