The global Specialty Retailers market is anticipated to grow at a CAGR of 8.3 % during the forecast period (2022-2028). Specialty retail stores are the stores or shops that provide various types of brands, styles, or models of a particular category of goods including footwear, clothes, food, electronics, and many others. The major factor attributing to the growth of the global specialty retailers market is the increasing sale of clothes, and other types of apparel through specialty retail stores due to the growing textile industry. According to the Textile Industry report published by the India Brand Equity Foundation (IBEF) in February 2022, the textile industry of India is one of the oldest industries across the globe. The market size of the Indian textile industry was around $29.8 billion in 2021 giving employment to around 4.5 crore workers. India produced 2.4 MT of fiber and 4,762 million KGs of cotton yarn with recorded export of around 1.13 million tonnes of cotton yarn in 2021. The textile industry of India is estimated to consistently grow and reach around $209 billion by 2029. Thus, increasing customers in apparel specialty retail stores.
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The sale of electronics through specialty retailers of electronics appliances is also increasing due to the growing IT & electronics industry during the forecast period. According to the report published by the India Brand Equity Foundation (IBEF) in February 2022, the Indian IT & Electronics industry is one of the fastest-growing industries in terms of production and export across the globe. The estimated total export of computer hardware & peripherals accounted for around $113.9 million and consumer electronics accounted for around $148 million in 2019. The export of electronic goods increased and reached $5.37 billion in 2021. India has favorable and supportive policies & regulations for the IT & electronic industry. Thus, propelling the growth of the global specialty retailers market over the forecast period.
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Some major players in the market include The Home Depot, Best Buy Co. Inc., Hennes & Mauritz AB, The Gap Inc., and CVS Health, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2022, retailers including Metro, Dollarama, and Giant Tiger joined Instacart to provide ultra-fast same-day delivery services to their customers.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- The Home Depot, Best Buy Co. Inc., Hennes & Mauritz AB, The Gap Inc., and CVS Health, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Specialty Retailers Market Report by Segment
By Type
- Online Retailers
- Offline Retailers
By Application
- Motorcycle
- Clothes
- Electronics
- Food
- Others
Global Specialty Retailers Market Report by Region
North America
- The United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Key Questions Answered by Specialty Retailers market Report
- What was the Specialty Retailers market size in 2022 and 2028; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of the Specialty Retailers market during the forecast period (2022-2028)?
- Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
- Which manufacturer/vendor/players in the Specialty Retailers market was the market leader in 2022?
- Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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