LONDON--(BUSINESS WIRE)--The consumers shopping cart market size is poised to grow by USD 87.22 million during 2020-2024, progressing at a CAGR of over 2% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The adoption of advanced technologies, such as laser cutting to manufacture shopping carts, has increased amongst several manufacturers to save time and cost of production. Laser-cutting results in high-quality sheet metal products as there is minimal workpiece distortion or warping associated with this process. Moreover, laser-cutting eliminates the need for hard tooling and is cost-effective and highly efficient. Therefore, shopping cart manufacturers are increasingly adopting laser cutting technology. Shopping carts manufacturers are using various technologically advanced methods to manufacture shopping carts to provide customers with quality products at low costs. This, in turn, is expected to attract customers and drive sales, thereby influencing the growth of the global consumer shopping cart market during the forecast period.
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Report Highlights:
- The major consumer shopping cart market growth came from the direct sales distribution channel segment. Direct selling is gaining rapid traction among consumer shopping cart manufacturers. It provides manufacturers with complete control over its brand quality, reputation, marketing, and sales tactics by eliminating the barrier between the producer and the consumer. It further makes the producers less vulnerable to the effects of external business decisions made by their distribution partners.
- APAC will offer maximum growth opportunities to market vendors during the forecast period. The increasing number of supermarkets and hypermarkets, wide assortments of shopping carts, and the abundance of counterfeit products which will significantly influence the growth of shopping cart market size in the region.
- The consumer shopping cart market is fragmented. Advance Carts Inc., Americana Companies, Changshu Yirunda Business Equipment Factory, National Cart Co., R.W. Rogers Co., Sambo Corp., Shanghai Rongxin Hardware Factory, The Peggs Company Inc., Versacart Systems Inc., and Wanzl Metallwarenfabrik GmbH are some of the major market participants. To help clients improve their market position, this consumer shopping cart market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the consumer shopping cart market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we re-evaluate the impact on businesses and update our report forecasts.
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Emergence of Smart Shopping Carts will be a Key Market Trend
The increasing demand for in-store advertising and communication systems, such as in-cart display devices, will drive the demand for smart shopping carts. Smart shopping carts use AI to scan and weigh the products. These carts come with a touchscreen near the handle that displays the total number of items placed in the cart along with their corresponding prices. Vendors operating in the market are adopting new technologies, which are primarily aimed at enhancing customers’ in-store shopping experience making it one of the critical shopping cart market trends. IMAGR has already introduced a smart shopping cart that uses AI and computer vision to scan products automatically as shoppers place them in their carts. These factors will boost the market growth.
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Consumer shopping cart Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist consumer shopping cart market growth during the next five years
- Estimation of the consumer shopping cart market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the consumer shopping cart market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of consumer shopping cart market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Steel carts - Market size and forecast 2019-2024
- Plastic carts - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Direct sales - Market size and forecast 2019-2024
- Distributors - Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Emergence of smart shopping carts
- Increasing number of start-ups entering the market
- Increasing availability of hybrid shopping carts
PART 13: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Advance Carts Inc.
- Americana Companies
- Changshu Yirunda Business Equipment Factory
- National Cart Co.
- R.W. Rogers Co.
- Sambo Corp.
- Shanghai Rongxin Hardware Factory
- The Peggs Company Inc.
- Versacart Systems Inc.
- Wanzl Metallwarenfabrik GmbH
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
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