Stores or a retail stores generally refer to a facility that is used for the purpose of storage and sale of diversified product lines. Common store formats include convenience stores, department stores, grocery stores, discount stores, speciality stores, supermarket, hypermarket and online stores. A department store involves retailing of a wide range of products whereas discount stores offer similar products at much lower price. Speciality stores, which mainly focuses on one specific product line, are also gaining traction.
Hypermarkets and superstores have emerged as a successful model across the globe, owing to growing consumerism. Hypermarkets and superstores offer higher convenience of product assortment over wide range of categories along with wide range of alternatives under one-roof. However, hypermarket industry is facing stringent legislations on expansion, consequently, hypermarkets are coming up with other options wherein hypermarkets industry is introducing in-store and click & collect services. Rapid economic development, rising disposable income, changing lifestyle and boom in retailing industry is driving the growth of retail stores market globally.
In addition, hypermarkets and mass merchandisers are facing challenges from smaller store formats and e-commerce or online retailers which provide various competitive offers and have higher expansion capabilities. E-commerce or online stores are witnessing tremendous growth mainly due to rise in number of online stores, easy approachability and increasing digital user-base. Online shopping provides its customers a wide array of products & goods online at much lower price with the convenience. The format is also economical for companies as there is no major infrastructure investments associated with it.
Additionally, in order to enhance shopping experience various brick and mortar retailers are adopting omnichannel approach, which is a blend of both offline and online stores. The retailers are also using advanced technologies like touch screen displays, free Wi-Fi, electronic parking assistance, hands-on & virtual technology, etc. in order to create seamless experience for their customers.
ASDReport.com has an extensive collection of reports on stores market. The reports cover various segments and products related to stores market like retail stores, supermarket, hypermarket, e-tail stores, wholesale, food retail and much more.