Press release
Retail Analytics Market 2020 | What Is The Estimated Market Size In The Upcoming Years? | Key Players- Oracle Corporation, IBM Corporation, Information Builders, Inc,Microsoft Corporation, MicroStrategy Incorporated
Retail analytics market is projected to record momentous gains over the forthcoming timeframe. Retail analytics primarily focuses on giving insights that are usually related to customers, sales, inventory, and other key aspects that are crucial for the merchants in their decision-making process.
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The discipline comprises numerous granular fields to create a broad picture of a retail business' health as well as sales alongside all areas of reinforcement and improvement. Retail analytics, basically is used to help make better choices, deliver enhanced customer service analytics, and to run businesses more effectively.
The retail analytics market is segmented into function, solution, enterprise size, deployment mode, and region.
Based on the function landscape, the market is bifurcated into customer management, supply chain, store operations, merchandising, and strategy & planning. Among these, the merchandising segment represented a market share of around 25% in 2019 since it improves merchandising strategies along with efficient assortment, planning, and negotiations.
With technological advancements in the field of analytics and with BI boasting, retail merchandising is seeing maximum traction.
With respect to solution, the market is classified into software, and service. The service segment is further segmented into training & consulting, managed services, and integration & deployment. Among these, the training & consulting segment is likely to exhibit a CAGR of around 25% as retailers are increasingly deploying consulting services for designing personalized promotional offers.
Moreover, for retailers in order to maintain their competitive edge, it is important that they are able to turn quickly soon as industry trends move into a new direction or when competitors are using new marketing tricks. To gain this ability, hiring a training, provided with relevant experience, is a must.
From a geographical frame of reference, Latin America retail analytics market is anticipated to record a CAGR of 25% owing to increased urbanization and commercialization in the region along with high purchasing power of consumers.
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Companies could also utilize retail analytics to enhance their marketing campaigns by building an improved understanding of individual choices as well as collecting more granular insights. By combining demographic data with information like preferences, purchase history and shopping habits, companies could create strategies focusing on individuals and exhibiting a higher rate of success.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Retail Analytics Industry Insights
Chapter 4. Retail Analytics Market, By Function
Chapter 5. Retail Analytics Market, By Solution
Chapter 6. Retail Analytics Market, By Deployment Mode
Chapter 7. Retail Analytics Market, By Region
Chapter 8. Company Profiles
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