Discount Retail Market Trends and Forecast
The future of the global discount retail market looks promising with opportunities in the snack, daily chemical product, beverage, beauty & skin care, and pet food markets. The global discount retail market is expected to grow with a CAGR of 5.2% from 2024 to 2030. The major drivers for this market are growing need for budget-friendly shopping options and increased preference for cost-saving retail choices.
• Lucintel forecasts that franchise store is expected to witness the higher growth over the forecast period.
• Within this market, snack is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: In the United States, Dollar General continues to expand aggressively, targeting underserved rural areas. The company announced plans to open 1,050 new stores in 2024, reinforcing its commitment to increasing accessibility and convenience for customers in remote regions. Additionally, Dollar Tree and Family Dollar are investing in store renovations and expanding their product offerings to include more grocery items, aiming to attract a broader customer base and compete with larger retailers
India: IndiaÄX%$%Xs discount retail market is witnessing significant growth, driven by both local and international players. Reliance Retail, a key player in the market, is expanding its footprint with plans to open new stores across tier-2 and tier-3 cities, focusing on affordability and accessibility. Additionally, Flipkart has launched new discount retail formats to tap into the increasing demand for budget-friendly options among Indian consumers. The government is also supporting retail growth through policies that promote foreign direct investment in the sector
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Discount Retail by Segment
The study includes a forecast for the global discount retail by type, application, and region.
Discount Retail Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Franchise Store
• Direct Store
Discount Retail Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Snack
• Daily Chemical Product
• Beverage
• Beauty & Skin Care
• Pet Food
• Others
Discount Retail Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Discount Retail Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies discount retail companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the discount retail companies profiled in this report include-
• Lidl
• Trader JoeÄX%$%Xs
• Save-A-Lot
• Grocery Outlet
• X5 Retail
• Mercadona
• Biedronka
Recent Development in the Discount Retail Market
Walmart: Walmart has continued to expand its footprint both physically and digitally. The company has been investing heavily in its e-commerce capabilities, aiming to provide seamless shopping experiences through enhanced online platforms and delivery services. Recently, Walmart introduced new technologies in its stores, such as automated fulfillment centers and cashier-less checkout systems, to improve efficiency and customer convenience. Additionally, Walmart has been expanding its grocery delivery services, partnering with companies like DoorDash to reach a wider audience.
Aldi: Aldi, known for its no-frills shopping experience and low prices, has been aggressively expanding its presence in various markets, especially in the United States. The company has announced plans to open hundreds of new stores, focusing on both urban and suburban areas. Alongside its expansion, Aldi is also making strides in sustainability. The retailer has committed to reducing plastic packaging and increasing the availability of eco-friendly products, aiming to meet the growing consumer demand for sustainable options.
Dollar General: Dollar General has been focusing on broadening its product range, particularly in health and wellness. The company recently launched the "DG Wellbeing" initiative, which aims to offer a wider array of health and beauty products at affordable prices. Dollar General is also expanding its fresh food offerings, making healthier options more accessible in underserved communities. This initiative aligns with the companyÄX%$%Xs strategy to attract a more diverse customer base and enhance its market position.
Costco: Costco continues to leverage its membership model, which provides customers with access to bulk products at discounted prices. The company has been expanding its global footprint, opening new warehouses in various countries, including China and France. CostcoÄX%$%Xs unique business model, which relies on membership fees, allows it to offer lower prices compared to traditional retailers. Recently, Costco has also been enhancing its online presence, offering members the convenience of shopping online with home delivery options.
Lidl: Lidl has been investing in technological advancements to improve customer experience and operational efficiency. The company is focusing on smart store concepts, which include features like electronic shelf labels and self-checkout stations. Lidl has also been enhancing its online shopping platform, aiming to provide a seamless omnichannel experience for customers. Furthermore, Lidl is expanding its product range to include more premium and organic items, catering to the evolving preferences of modern shoppers.
Features of the Global Discount Retail Market
Market Size Estimates: Discount retail market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Discount retail market size by type, application, and region in terms of value ($B).
Regional Analysis: Discount retail market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the discount retail market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the discount retail market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for discount retail market?
Answer: The global discount retail market is expected to grow with a CAGR of 5.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the discount retail market?
Answer: The major drivers for this market are growing need for budget-friendly shopping options and increased preference for cost-saving retail choices.
Q3. What are the major segments for discount retail market?
Answer: The future of the discount retail market looks promising with opportunities in the snack, daily chemical product, beverage, beauty & skin care, and pet food markets.
Q4. Who are the key discount retail market companies?
Answer: Some of the key discount retail companies are as follows:
• Lidl
• Trader JoeÄX%$%Xs
• Save-A-Lot
• Grocery Outlet
• X5 Retail
• Mercadona
• Biedronka
Q5. Which discount retail market segment will be the largest in future?
Answer: Lucintel forecasts that franchise store is expected to witness the higher growth over the forecast period.
Q6. In discount retail market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the discount retail market by type (franchise store and direct store), application (snack, daily chemical product, beverage, beauty & skin care, pet food, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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