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The consumer shopping cart market share is expected to reach an estimated USD 86.4 million by 2026 at an accelerating CAGR of 2.05%.
This consumer shopping cart market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers consumer shopping cart market segmentation by:
The consumer shopping cart market vendors are - Advance Carts Inc., Americana Co., Bemis retail Solutions, Caper Inc., Changshu Jinsheng Metal Products Factory, Changshu Yirunda Business Equipment Factory, CREACIONES MARSANZ S.A, Foshan Yongchuangyi Shelf Manufacturing Co. Ltd., Guangdong Winleader Metal Products Co. Ltd., IMAGR Ltd., Kailiou Commercial Equipment Co. Ltd., National Cart Co., R.W. Rogers Co., Sambo Corp., Shanghai Rongxin PetProduct Co. Ltd., Suzhou Hongyuan Business Equipment Co. Ltd., The Peggs Co Inc., Unarco Industries LLC, Versacart Systems Inc., and Wanzl Metallwarenfabrik GmbH among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The expanding retail space is notably driving the consumer shopping cart market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the consumer shopping cart industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Consumer Shopping Cart Market Driver
One of the key factors driving growth in the consumer shopping cart market is the expanding retail space. Globally, the increasing number of retail stores, particularly supermarkets and hypermarkets, is supporting the growth of the global consumer shopping cart market. The global retail market is witnessing continuous growth owing to strong economic growth and urbanization. Most consumer shopping cart manufacturers are offering their products through various global and regional supermarkets and hypermarkets. SPAR, 7-eleven, Walmart, Aldi, and Carrefour are some of the major supermarket and hypermarket chains that offer consumer shopping carts. Some of these retail stores are trying to expand their global presence. The sale of consumer shopping carts is expected to increase significantly with the growing expansion of retail channels. This is expected to accelerate the growth momentum of the global consumer shopping cart market during the forecast period.
Key Consumer Shopping Cart Market Trend
The emergence of smart shopping carts is a consumer shopping cart market trend that is expected to have a positive impact in the coming years. The evolution of in-store grocery shopping over the years has led to the emergence of smart shopping carts. Vendors operating in the global consumer shopping cart market are adopting new technologies, which are primarily aimed at enhancing customers' in-store shopping experience. Smart shopping carts use AI to scan and weigh the products that have been put in those carts. Moreover, the attached card terminal in the cart allows customers to pay for their purchases in the cart itself without having to wait at the checkout lane. The increasing demand for in-store advertising and communication systems such as in-cart display devices is also driving the demand for smart shopping carts. Leveraging on this growing demand, some of the major retailers in the global consumer shopping cart market have started offering different types of smart shopping carts in their stores. The emergence of various types of smart shopping carts has become a major trend in the market and is expected to positively impact the market's growth.
Key Consumer Shopping Cart Market Challenge
The fluctuations in raw material prices will be a major challenge for the consumer shopping cart market during the forecast period. In the past few years, the manufacturers of consumer shopping carts have been experiencing fluctuations in their profit margins. This is mainly due to the fluctuating prices of raw materials. Some of the most common raw materials used in the manufacturing of consumer shopping carts are steel, aluminum, and plastic. The prices of some of these raw materials have been fluctuating since the latest financial crisis due to a number of factors. The continuous change in profit margins of manufacturers acts as a major challenge for the growth of the global consumer shopping cart market. Manufacturers are significantly affected by raw material price volatility. Owing to the fluctuating prices of raw materials, manufacturers fail to anticipate their investments or control costs. This, in turn, reduces the sales potential and revenue of global manufacturers, thereby hindering the growth of the global consumer shopping cart market.
This consumer shopping cart market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global Consumer Shopping cart market as a part of the global metal and glass containers market within the overall global containers and packaging market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the consumer shopping cart market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the consumer shopping cart market encompasses successful business strategies deployed by the key vendors. The consumer shopping cart market is fragmented and the vendors are deploying growth strategies such as pricing and marketing strategies to retain their existing market shares to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The consumer shopping cart market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the consumer shopping cart market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from APAC during the forecast period. China and Australia are the key markets for consumer shopping carts in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing number of supermarkets and hypermarkets in the region will facilitate the consumer shopping cart market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
n 2020, the outbreak of the COVID-19 pandemic led to a decrease in the demand for consumer shopping carts in APAC. Some shopping cart manufacturers had to postpone their investments in R and D, owing to low revenues. However, the condition of the market in the region has been slowly recovering since the beginning of 2021, owing to the introduction of vaccines to fight against the disease.
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The consumer shopping cart market share growth by the steel carts segment will be significant during the forecast period. Steel carts are one of the most commonly used types of shopping carts. Steel shopping carts contain a thin layer of oxides, which protects the metal. Steel is more resistant to wear and abrasion than aluminum or other materials. Thus, steel carts are considered to be much more durable than any other variety of shopping carts. Owing to such advantages, the demand for steel carts is increasing globally.
This report provides an accurate prediction of the contribution of all the segments to the growth of the consumer shopping cart market size and actionable market insights on post COVID-19 impact on each segment.
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Consumer Shopping Cart Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.05% |
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Market growth 2022-2026 |
$ 86.4 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.83 |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 36% |
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Key consumer countries |
US, China, Australia, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Advance Carts Inc., Americana Co., Bemis retail Solutions, Caper Inc., Changshu Jinsheng Metal Products Factory, Changshu Yirunda Business Equipment Factory, CREACIONES MARSANZ S.A, Foshan Yongchuangyi Shelf Manufacturing Co. Ltd., Guangdong Winleader Metal Products Co. Ltd., IMAGR Ltd., Kailiou Commercial Equipment Co. Ltd., National Cart Co., R.W. Rogers Co., Sambo Corp., Shanghai Rongxin PetProduct Co. Ltd., Suzhou Hongyuan Business Equipment Co. Ltd., The Peggs Co Inc., Unarco Industries LLC, Versacart Systems Inc., and Wanzl Metallwarenfabrik GmbH |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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