Retail Execution Software Market: Introduction
- In the consumer packaged goods (CPG) market, retail execution software helps in the planning, management, and monitoring of in-store activities. These solutions make it easier for CPG businesses and retailers to work together to boost in-store sales and profits. Merchandisers and marketing experts in the CPG business employ retail execution software. It can also be used to oversee sales operations by field sales reps.
- Retail execution software helps in activities including in-store marketing campaigns, merchandising, customer engagement, fulfillment, store planning, aided sales, and planograms. Staffing, talent management, document sharing, scheduling, photo capturing, messaging, timekeeping, task management, and reporting are all common features of retail execution software.
Global Retail Execution Software Market: Dynamics
Global Retail Execution Software Market: Key Drivers
- Various e-payment systems are used for mobile digital purchasing in different countries. Payment gateway companies in these countries provide integrated e-payment solutions to a variety of retail execution software vendors in order to keep up with technological improvements. The market's expansion is due to advancements in payment gateway technology and an increase in the use of mobile wallets. Over the forecast period, demand for retail execution software is expected to be driven by growing integration of payment gateway systems with retail execution software, as well as growing online shopping and developments in billing methods.
- E-commerce is being boosted by an increase in smartphone adoption and high Internet penetration. The retail industry is one of the key industries that has seen tremendous expansion as a result of e-commerce growth. It has also inspired companies to use e-commerce platforms to expand their customer base.
Global Retail Execution Software Market: Opportunities
- Machine learning allows online retailers to quickly recognize and identify clients who have moved away from their services. Additionally, companies can retain customers by reminding them to repurchase perishable items or share special offers. Vendors in the industry can streamline and automate the retail execution process by adopting the benefits of machine learning. As a result, demand for retail execution software is anticipated to grow during the forecast period.
Impact of Covid-19 on the Retail Execution Software Market
- The Covid-19 pandemic has had a negative impact on the retail execution software market. Travel bans, mobility limitations, and supply chain closures have all had a negative influence on the retail industry. Primary businesses such as e-commerce, retail, and logistics have been seriously affected by the outbreak. The worldwide retail execution software market is being hindered by the significant decline in the international logistics business.
North America to Account for Major Share of the Global Retail Execution Software Market
- In terms of region, the global retail execution software market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America holds a dominant share of the retail execution software market. The retail execution software market in the region is expected to grow due to greater acceptance of automated technology, fast-growing economies, higher internet penetration, and extensive software usage by end-users.
- Asia Pacific is anticipated to witness the highest CAGR in the market during the forecast period. India and China are the fastest-growing retail and e-commerce markets in APAC. Consumers in these countries are becoming more interested in shopping online as internet penetration rises, and online shopping trends are transforming different elements of e-commerce and retail in the region. The retail execution software market in APAC is growing as a result of these factors.
Global Retail Execution Software Market: Competitive Landscape
Key Players Operating in the Global Retail Execution Software Market
Retail execution software providers are implementing growth strategies to expand their presence and maintain their market position. To enhance their market position, retail execution software companies have used major expansion tactics such as collaborations, product acquisitions, and launches, as well as creating global and regional distribution networks.
Key players operating in the global retail execution software market include:
- AFS Technologies
- Trax Retail
- Reflexis Systems
- Spring Global
- Natural Insight
Global Retail Execution Software Market: Research Scope
Global Retail Execution Software Market, by Enterprise Size
Global Retail Execution Software Market, by Application
- Retail Operations
- Field Service Management
- Trade Promotion Management
- Field Sales
- Mobile Form Automation
- Employee Engagement
Global Retail Execution Software Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America