Hypermarkets Global Market Report 2023

New York, June 21, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Hypermarkets Global Market Report 2023” – https://www.reportlinker.com/p06464081/?utm_source=GNW
Leclerc, Metro Cash & Carry, Auchan, and Schwarz Beteiligungs GmbH.

The global hypermarkets market is expected to grow from $1,667.71 billion in 2022 to $1,810.42 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hypermarkets market is expected to reach $2,400.19 billion in 2027 at a CAGR of 7.3%.

The hypermarkets market includes revenues earned by entities by providing services such as selling groceries, online shipping, creating displays of merchandise, and providing product information.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

Hypermarket is a retail store that contains a department store and a grocery supermarket. It consists of goods and a large parking lot which provides consumers with all the goods they require, under one roof.

North America was the largest region in the hypermarkets market in 2022. The regions covered in hypermarkets report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The hypermarkets are owned by retail chains and independent retailers.A retail chain is a group of stores owned and operated under a franchise or license on behalf of one entity where the sale of consumer goods intended for personal use is made.

The goods are distributed through traditional marketing channels (offline) and online channels for various applications including consumer electronics, furniture, food and beverage, toy and stationery, personal care, cosmetics, home textile, dress, and others.

The creation of personalized experiences is expected to propel the growth of the hypermarkets market going forward.Personalization refers to communication-based on an organization’s knowledge of a customer.

Personalized experiences are required to meet individual demands.Personalized experience provides manufacturers, hypermarkets, and supermarkets to maximize their financial returns.

For instance, in May 2022, according to the report published by Psychology & Marketing (P&M), a West Sussex-based research publisher, an increase of 5%–15% in revenue of senior marketing leaders is directly attributed to the successful implementation of personalization. Therefore, the creation of personalized experiences is driving the growth of the hypermarkets market.

Artificial intelligence is a key trend gaining popularity in the hypermarkets market.Major companies operating in the hypermarket market are adopting artificial intelligence to strengthen their position in the market.

The creation of intelligent machines and intelligent computer programs that require human intelligence is the focus of the artificial intelligence (AI) subfield of computer science.For instance, LuLu Group International, an Indian Emirati-based conglomerate company that operates a chain of hypermarkets and retail companies, launched Salem, an AI-powered customer experience or service channel on WhatsApp by which customers will receive in-app purchase receipts, track online order deliveries, and seek purchase-related assistance.

The service is powered by Yellow.ai, a US-based Conversational AI platform. Salem can effectively engage with customers throughout their buy journey owing to deep backend integration with the retailer’s CRM and Order Management system. This has significantly increased customer satisfaction by up to 60%.

In February 2021, Issa Brothers (EG Group), a UK-based retail company and TDR Capital, a UK-based private equity firm, acquired ASDA Stores Ltd. from Walmart for $7.42 (£6.8) billion. This acquisition aims to expand EG Group’s business. Asda Stores Ltd. is a UK-based hypermarket retailer and a wholly-owned subsidiary of Walmart.

The countries covered in the hypermarkets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The hypermarkets market research report is one of a series of new reports that provides hypermarkets market statistics, including hypermarkets industry global market size, regional shares, competitors with a hypermarkets market share, detailed hypermarkets market segments, market trends, and opportunities, and any further data you may need to thrive in the hypermarket’s industry. This hypermarkets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464081/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________