Global unmanned c-store market to grow by 50%
By 2027 the the global market of convenience stores with no employees will be worth $1.6 billion, according to a new study.
The global unmanned convenience store market was valued $67.48 million in 2019 and is expected to reach $1.6 billion by 2027 with a CAGR growth rate of 51.9% during the forecast period, accoding to a report by ResearchAndMarkets.
Regional and local players are expected to improve their position on the market as entry barriers continue to reduce, according to the report. There is a growing penetration of automated hardware and solutions for achieving operational efficiency is gaining momentum in the unmanned convenience store market.
Currently, the APAC leads the global unmanned convenience store market, with 61.6% of the unmanned convenience store market share, followed by North America and Europe. Factors such as the adoption of digital transformation, automated tools, and increasing awareness regarding the benefits of the automated shopping experience, are propelling the growth of the unmanned convenience store market.
The automated systems gather the data about what consumers prefer, saving it into artificial intelligence to streamline inventories and logistics. A number of Chinese companies had opened around 40 unmanned stores across China, with an aim to enhance profit margins in the retail sector by reducing the cost spent on staff and their salaries.
