Globally, the connected retail market is expected to grow with a CAGR of 20.6% during the forecast period from 2022 to 2030 and had registered a market value of US$ 26.21 Bn in 2021. Connected retail is defined as a connection between the customer and the retail stores with the help supply chain, personalized marketing, varied payment options, a combination of the physical store and digital experience, and allowing the capability to employees to collaborate more effectively.
The PLM CP&R market globally is expected to grow with a CAGR of 10.9% during the forecast period from 2021 to 2029, starting from US$ 2.52 Bn in 2020. Rising retail & consumer goods industry and growing demand for product life cycle management are the major growth factors for the market. Use of PLM as a strategic enabler by corporations is another major factor for the market growth. PLM helps in transforming people & processes, enables innovative, time saving and cost effective solutions for procedures.
The global market value for gems & jewelry is expanding at a CAGR of 5.1% during the forecast period from 2021 to 2029. Asia Pacific led the gems & jewelry market in 2020 and expected to remain dominant during the forecast period. North America expected to be the fastest growing market during the forecast period.
The global travel retail sector is not limited to only airports; it also includes cruise lines, ferries, and ports. However, an airport still enjoys the pole position in the market and remains the dominant player in the upcoming years. The travel retail market was valued at US$ 63.59 Bn in 2017 for the last two decades, the travel retail market has grown constantly, a trend that should continue between now and 2026.
The global airport retail market has witnessed a significant growth during 2020 and is predicted to witness promising growth through the forecast period 2022 - 2030. Increasing number of budget travel options, rising number of air travelers and terminals and expansion of multinational retailers are expected to support this market growth through the forecast period.
Retail Market Research Reports
The retail market consists of the businesses that directly sell products to the customers. The retail sector is presently observing a major expansion from traditional brick and mortar stores to the digital form. Whether it is a small separate store or a big retail chain, making a digital presence felt has become a key tool of increasing sales demand and reach maximum number of consumers.
Inside the retail market, there are a variety of formats for stores. They include malls, supermarkets, discount stores, specialty stores and department stores. A number of market sectors - right from housewares to personal care products and from consumer electronics to textiles usually depend upon the retail form of market to sell their goods & services. In the past few years, retail businesses have had to change their business plans as well as financial strategies to explore new business platforms.
The retail market is also distinguished and illustrated by certain other business sectors that complement its functioning. These business units/sectors encompass supply chain management systems, inventory management systems, enterprise resource planning (ERP) and transportation.
There is a tough competition in the retail market, both among global and local market players. The only way for competitors to differentiate themselves from rest of their business rivals is to take a leap forward towards business innovations, ecommerce execution/implementation of consumer loyalty plans/strategies and product branding through television, internet and social networking websites. To carry out each of these functions, it is necessary for retailers to know the retail market pulse . A large number of market tools available on the web portal of Acute Market Reports will help you in executing/carrying out/implementing your functions successfully.
Acute Market Reports possesses a vast compilation of updated market research reports sourced from the best publishers across the globe. Its market reports contain information related to industry forecasts, market trend analysis, technological trend analysis, industry size, industry structure, company overview, competitive analysis, value chain analysis, market demand, SWOT analysis, Porter five force analysis, market position, market penetration, benchmarking, product classification ,product portfolio analysis, product differentiation, strategic analysis, scenario analysis, Environmental scanning and a detailed description of macro & micro economic environmental aspects of market that affects and impacts the business growth of existing players as well as new entrepreneurs.
Our reports will guide you in molding your business decisions that will shape and help you in enhancing/elevating your business growth.