Omni-channel retailing refers to seamlessly integrating the customer experience throughout all channels on the web, mobile phone, and in store. This approach accounts for both, device and a platform that a customer can use to have interaction with the retailers. This knowledge can then be used to deliver a personalized shopping experience.
The world of commerce in business to consumer (B2C) and business to business (B2B) is drastically changing and is expected to continue changing in the years to come. Customers these days desire a consistent buying experience across all retail channels including online, offline, and even both.
With declining growth in traditional brick and mortar stores, retailers have started adding multiple sales channels including customer care centers and ecommerce. Omni-channel commerce allows customers to purchase across all channels and all the information about the buying process is available in real time in all the channels. In order to boost their revenues, retailers are now merging their online channel and stores channel to leverage their huge customer reach and the accessibility of online shopping. An example of omni-channel commerce platform is Tesco’s virtual grocery store in all South Korean subway stations. Shopping can be done by scanning QR codes on customers’ smartphones from digital display helves. After the web-based payment and transaction are completed, the products are delivered to the customer.
With the rapid proliferation of smartphones and rising internet penetration across the world, global sales through online platforms is on a robust growth trajectory. This has a direct impact on the growth of the global omni-channel commerce platform. These factors are anticipated to propel demand for omni-channel commerce platforms over the forecast period. With growing technological advancement and ease of availability of necessary resources, medium and small sized retailers are also anticipated to start investing in this software. However, high cost associated with installation of software and setting up of the omni-channel platform is a key factor hindering the growth of the market.
The global retail omni-channel commerce platform market can be segmented based on component, solution, deployment type, and region. On the basis of component, the market can be segmented into software and services. On the basis of services, the global market can further be categorized into professional services and managed services. In terms of solution, the market has been bifurcated into e-commerce, order management, and others. E-commerce, being one of the major channels in the omni-channel platform ecosystem, is witnessing substantial rise in adoption across both developed and developing countries. Based on deployment type, the market can be bifurcated into on premise and cloud-based solutions.
The global retail omni-channel commerce platform market is segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to contribute major share in the retail omni-channel commerce platform market during the forecast period. Adoption rate of omni-channel commerce platforms by retailers in North America is comparatively high compared to other regions. Asia Pacific is expected to be the fastest growing market for retail omni-channel commerce platforms. Rise in internet penetration along with growth of the online retail sector has been some of the important factors having a positive impact on the growth of this market. Rising demand for omni-channel platforms in emerging countries such as Japan, China, and India is driving market growth. Europe is also expected to show significant growth in the omni-channel commerce platform over the forecast period. Middle East & Africa and South America are also expected to contribute toward growth of the market with lucrative opportunities in the long run.
Some of the major players active in the development of retail omni-channel commerce platforms include NCR Corporation, Infor Global Solutions, Inc., IBM, Oracle Corporation, Magento, Inc., SAP AG, Aptos Technology Inc., Salesforce.com, Inc., Fujitsu Limited, Diebold Nixdorf, and Microsoft Corporation.
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