Asia Pacific was the largest region in the global food and beverage stores market, accounting for 62% of the market in 2019. Africa was the second largest region accounting for 12% of the Global Food and Beverage Stores Market. Middle East was the smallest region in the global food and beverage stores market.
Innovations in automation
technology are on the rise and retail stores are increasingly using in-store
automation to streamline retail shopping. Automation in retail stores is aimed
at automating store operations such as container movement, merchandise
scanning, inventory checking, retrieving, packaging, and delivering products,
and connecting with customers. Automation reduces waiting times, avoids
stocking problems, enhances productivity, and increases overall customer
experience. For instance, American retailer Lowe's has installed multi-lingual,
autonomous customer assistance robots in 11 locations in San Francisco Bay
area. Retailers are also focusing on using self-checkout stands for customers.
Walmart has patented a system of self-driving shopping carts.
The food and beverage stores' market consists of sales of food and beverages and related services by entities (organizations, sole traders and partnerships) that retail food and beverages merchandise, from fixed point-of-sale locations. This industry includes grocery stores, specialty food stores, convenience stores and beer, wine and liquor stores.
The global food and beverage stores
market is expected to decline from USD 1850.8 billion in 2019 to USD 1844.1
billion in 2020 at a compound annual growth rate (CAGR) of -0.4%. The decline
is mainly due to economic slowdown across countries owing to the COVID-19
outbreak and the measures to contain it. The market is then expected to recover
and grow at a CAGR of 6% from 2021 and reach USD 2155.8 billion in 2023.
For More Information, Click on the Link Below:-
Global
Food and Beverage Stores Market
Related Reports:
Food
and Beverage Stores Global Market Report 2019
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
