With the spread of COVID-19 and lockdowns measures taken by governments to stop the spread of the virus is hurting the economy from all directions. This has resulted in various industries from Manufacturing to production seen a step depth in their economic curve. The current outbreak of COVID-19 will have a significant impact on retail display rack market. The disruption in the supply chain due to the travel restrictions effected the demand for the retail display racks in the market.
Retail display rack Market: Overview
The Retail display racks comprises of four to five shelves in which shopkeepers or showroom owners can place commodities to be sold and can be used to display and advertise products. The racks offered by companies act as an advertising tool which can help company in marketing and promotional activities. The retail display racks are commonly used in supermarkets, malls and big specialty stores to display items such as fast-moving consumer goods, clothes, apparel, crockery and daily essentials.
The Global retail display racks industry has shown a steady growth in the recent years and over the forecast period retail industry is expected to register a robust growth influenced by the positive macroeconomic outlook and growing middle class population. In addition, urbanization and changing lifestyles in emerging economies has contributed to the growth in number of retail stores around the world.
In recent years, retail display racks retail markets have moved from conventional shops to modern structured retail formats. Companies and retailers prefer retail display racks with effective space-saving and lightweight composition of materials, which helps them minimize their promotional costs for their products. In India, the group of majority players in the retail display racks industry are small to medium-sized companies with small-scale operations. They offer decorative and attractive pool of retail display racks and also provide self-customized depending on the demand.
COVID-19 Impact on Retail Display Racks Market
The current outbreak of COVID-19 will have a significant impact on retail display rack market. The disruption in the supply chain due to the travel restrictions effected the demand for the retail display racks in the market.
The unavailability of the raw materials and fall in demand has forced manufacturers to reduce the production output of retail display racks. People were told strictly to stay at home affected the retailer shops. Maximum purchase done were through E-commerce website which contracted the share of retail display rack market.
However, consistently upgrading and improving the supply chain, manufacturing and safety measures with COVID-19 guidelines for worker safety at industries has helped the retail display racks market to bounce back strongly best by the fourth quarter of 2020. The market is expected to regain its momentum as the restrictions and travel ban are eased by the governments. Once people start visiting the retail shops for their daily goods need, the market for retail display racks will surely bounce back and regain its stabilized position.
Retail Display Racks Market: Regional Outlook
Based on regional overview, Retail display racks takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. Due to the increased demand for retail display units in the FMCG industry, the Asia-Pacific retail racks market would account for most of the demand. The demand for retail display racks in Asia-pacific region is influenced by the rising population and increase in disposable income.
Although other regions with both the economies may also see incremental growth in the Retail display racks production with increasing urbanization. Countries in these six important regions of globe see their future for upcoming demand in Retail display racks and its importance to shop as well as company owners.
Why Choose Us
Donegoods Industrial Co., Ltd was established in 2011. At Donegoods, we make customized products. We are professional manufacturer of store fixtures in China, specialized in all kinds of metal display rack and MDF material display, Glass and plastic material display, cardboard material display, wire rack & shelf, display systems, kitchenware accessories, kitchen organizers-racks-holder, and ect., Many of our products were delivered to America & Europe. We have the confidence to offer you good display fixtures at a reasonable price. If you are looking for a merchandise of Display Rack, please don't hesitate to contact us!