LONDON–(BUSINESS WIRE)–#ConsumerShoppingCartMarket–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
Vendors are adopting advanced manufacturing technologies to save time and cost of production. For instance, the adoption of laser cutting eliminates the need for hard tooling and ensures a cost-efficient and highly efficient production process. Similarly, the use of precision sealed ball-bearing into the impact polypropylene hub of the wheel reduces the shaking of cartwheels. The adoption of many such technological advances by market vendors involved in the manufacture of shopping carts has resulted in the availability of quality products at lower costs. This is crucial in attracting end-users’ interest and increasing the sales of consumer shopping carts.
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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 use AI to automatically scan and weigh the products in the cart. These carts are equipped with touchscreens that display the total number of items placed in the cart and their prices. The screens also highlight deals and promotions on nearby items and provides suggestions for customers. In addition, the attached card terminal in the cart allows customers to pay without having to wait in the checkout lane. With the growing demand for in-store advertising and communication systems, the adoption of smart shopping carts is expected to gain traction 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 channels (direct sales and distributors).
The European region led the market in 2019, followed by North America, APAC, MEA, and South America respectively. However, during the forecast period, APAC is expected to witness maximum incremental growth due to business expansion by global retailers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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