Global Consumer Shopping Cart Market 2020-2024 | 2% CAGR Projection Through 2024 | Technavio
LONDON--(BUSINESS WIRE)--Jan 9, 2020--
The global consumer shopping cart market is expected to post a CAGR of over 2% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global consumer shopping cart market 2020-2024. (Graphic: Business Wire)
Market vendors are adopting advanced technologies such as laser cutting to save time and cost of production for manufacturing of shopping carts. Laser cutting eliminates the need for hard tooling, ensuring highly efficient production process. Manufacturers are also using precision sealed ball-bearing into the impact polypropylene hub of the wheel to reduce the shaking of the cartwheels. Many such technological advances adopted by market vendors are resulting in the availability of quality products at lower costs. This is bolstering the sale of consumer shopping carts, thereby driving the growth of the market.
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As per Technavio, the emergence of smart shopping carts will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Consumer Shopping Cart Market: Emergence of Smart Shopping Carts
Smart shopping carts leverage AI to automatically scan and weigh the products that have been put in the cart. These carts are equipped with touchscreens that display the total number of items placed in the cart and their prices. These screens also highlight deals and promotions on nearby items and provide suggestions for customers. In addition, the attached card terminal in the cart allows customers to pay without having to wait at the checkout lane. With the growing demand for in-store advertising and communication systems such as in-car display systems, the adoption of smart shopping carts is expected to increase significantly during the forecast period.
“Rising number of start-ups entering the market and the increasing availability of hybrid shopping carts will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Consumer Shopping Cart Market: Segmentation Analysis
This market report segments the global consumer shopping cart market by geography (APAC, Europe, MEA, North America, and South America), product (steel carts, plastic carts, and others), and distribution channel (direct sales and distributors).
The European region led the market in 2019, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the European region is expected to maintain its dominance over the market. This is due to the increasing number of supermarkets and the launch of new products by vendors in the region. However, the APAC region is expected to witness the maximum incremental growth owing to business expansion by global retailers in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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