HOME Top Market Reports Retail Analytics Market by Application (Merchandising Analysis, Customer Analysis, Performance Analysis), Business Function (Finance, Sales, Marketing, Supply Chain and Store Operations), Component, End-User, and Region - Global Forecast to 2022

Retail Analytics Market by Application (Merchandising Analysis, Customer Analysis, Performance Analysis), Business Function (Finance, Sales, Marketing, Supply Chain and Store Operations), Component, End-User, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: TC 2663

 

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The retail analytics market size is expected to grow from USD 3.14 Billion in 2016 to USD 8.64 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.7%. The base year considered for this report is 2016 and the forecast period is 2017–2022.

Objectives of the Study

The main objective of this report is to define, describe, and forecast the global retail analytics market on the basis of applications, business functions, components, deployment models, organizations sizes, end-users, and regions. The report contains analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

The research methodology used to estimate and forecast the retail analytics market began with data collection through secondary research on key vendors. The sources referred for secondary research include D&B Hoover’s, Bloomberg Businessweek, and Factiva. The vendor offerings were taken into consideration in order to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key personnel, such as Chief Marketing Officers (CMOs), and Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of primary profiles is depicted in the below figure:

Retail Analytics Market

To know about the assumptions considered for the study, download the pdf brochure

The retail analytics market comprises software and service providers, such as 1010data, Inc. (US), Angoss Software Corporation (Canada), BRIDGEi2i Analytics Solutions Private Limited (India), Capillary Technologies (Singapore), Diaspark Inc. (US), FLIR Systems, Inc. (US), Fujitsu Limited (Japan), GainInsights Solutions Pvt. Ltd. (India), Happiest Minds (India), Information Builders (US), IntelliVision (US), International Business Machines Corporation (US), LoyaltyOne (Canada), Manthan Software Services Private Limited (India), Microsoft Corporation (US), MicroStrategy Incorporated (US), Oracle Corporation (US), QBurst (India), Qlik Technologies Inc. (US), RetailNext Inc. (US), SAP SE (Germany), SAS Institute Inc. (US), Trax (Singapore), Visual BI Solutions (US),and Zebra Technologies Corporation (US).

Key Target Audience

  • Consulting companies
  • Government agencies
  • Investors and venture capitalists
  • Value-Added Resellers (VARs)
  • Small, medium, and large-sized enterprises
  • Third-party providers
  • Consultants/consultancies/advisory firms
  • Professional service providers
  • Retailers

“Study answers several questions for the stakeholders, primarily which market segments to focus in the next 2–5 years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the retail analytics market to forecast the revenues and analyze the trends in each of the following subsegments:

By Application:

  • Merchandising Analysis
  • Pricing Analysis
  • Customer Management
  • Performance Analysis
  • Yield Analysis
  • Inventory Analysis
  • Others (order management, transportation management, assortment and cluster planning, and real-estate planning)

By Business Function:

  • Finance
  • Sales
  • Marketing
  • Supply Chain
  • Store Operation

By Component:

  • Software
  • Services
    • Professional Services
      • Implementation and Consulting Services
      • Training and Support
    • Managed Services

By Deployment Model:

  • On-premises
  • On-demand

By Organization Size:

  • SMEs
  • Large Enterprises

By End-User:

  • Online
  • Offline

By Region:

  • North America
  • Europe
  • MEA
  • APAC
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Product Analysis

Product matrix gives a detailed comparison of product portfolio for each company.

Geographic Analysis

  • Further breakdown of the North American retail analytics market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

Detailed profiling and analysis of additional market players

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                               2.1.2.1.1 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 28)

4 Remium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the Retail Analytics Market
    4.2 Market By Region
    4.3 Market By Application and Region
    4.4 Lifecycle Analysis, By Region, 2017

5 Market Overview and Industry Trends (Page No. - 36)
    5.1 Market Overview
           5.1.1 Introduction
           5.1.2 Market Dynamics
                    5.1.2.1 Drivers
                               5.1.2.1.1 Growing Internet Penetration
                               5.1.2.1.2 Advancement in Technologies, Such as Machine Learning, Artificial Intelligence, and Augmented Reality
                               5.1.2.1.3 Increased Use of Data-Intensive Platforms and Rapid Adoption of Social Media
                    5.1.2.2 Restraints
                               5.1.2.2.1 Lack of Skilled Personnel
                               5.1.2.2.2 High Initial Setup Costs
                    5.1.2.3 Opportunities
                               5.1.2.3.1 Advent of Cloud-Based Analytics
                               5.1.2.3.2 Growing Inclination of Vendors Toward Merging In-Store and Digital Operations
                    5.1.2.4 Challenges
                               5.1.2.4.1 Complexities in Gathering and Integrating Data From Omnichannel Ecommerce Streams
                               5.1.2.4.2 Increased Consumer Preferences
    5.2 Industry Trends
           5.2.1 Retail Analytics: Use Cases
                    5.2.1.1 Use Case #1: Deliver Personalized Interactions
                    5.2.1.2 Use Case #2: Understand Buying Patterns
                    5.2.1.3 Use Case #3: Understand Customer Needs
                    5.2.1.4 Use Case #4: Provide Cross-Selling Opportunities
                    5.2.1.5 Use Case #5: Market Basket Analysis
                    5.2.1.6 Use Case #6: Analyze Customer Footfall
                    5.2.1.7 Use Case #7: Increase Customer Base and Improve Loyalty
                    5.2.1.8 Use Case #8: Enhance On-Shelf Availability
                    5.2.1.9 Use Case #9: Enhance Sales, Cross-Selling, Up-Selling, and Workforce Optimization
    5.3 Retail Analytics, Key Performance Indicators

6 Retail Analytics Market Analysis, By Application (Page No. - 50)
    6.1 Introduction
    6.2 Merchandising Analysis
           6.2.1 Space Planning and Optimization
           6.2.2 Product Category Analysis
           6.2.3 Storefront Layout Analysis
    6.3 Pricing Analysis
           6.3.1 Campaign Management
           6.3.2 Loyalty Management
           6.3.3 Cross-Sell/Upsell and Point of Sale
    6.4 Customer Management
           6.4.1 Customer Segmentation, Retention, and Acquisition
           6.4.2 Fraud and Risk Management
           6.4.3 Demographic Analysis
    6.5 Performance Analysis
           6.5.1 Workforce Optimization
           6.5.2 Top Performing Categories and Product Identification
    6.6 Yield Analysis
           6.6.1 Baseline Forecasting
           6.6.2 Sales Forecasting
           6.6.3 Market Basket Analysis
    6.7 Inventory Analysis
           6.7.1 Vendor Management
           6.7.2 Replenishment Plan
    6.8 Others
           6.8.1 Order Management
           6.8.2 Transportation Management
           6.8.3 Assortment and Cluster Planning
           6.8.4 Real-Estate Planning

7 Retail Analytics Market Analysis, By Business Function (Page No. - 61)
    7.1 Introduction
    7.2 Finance
    7.3 Sales
    7.4 Marketing
    7.5 Supply Chain
    7.6 Store Operations

8 Retail Analytics Market Analysis, By Component (Page No. - 67)
    8.1 Introduction
           8.1.1 Software
           8.1.2 Services
                    8.1.2.1 Professional Services
                               8.1.2.1.1 Implementation and Consulting Services
                               8.1.2.1.2 Training and Support
                    8.1.2.2 Managed Services

9 Retail Analytics Market Analysis, By Deployment Model (Page No. - 73)
    9.1 Introduction
    9.2 On-Premises
    9.3 On-Demand

10 Retail Analytics Market Analysis, By Organization Size (Page No. - 77)
     10.1 Introduction
     10.2 Small and Medium-Sized Enterprises
     10.3 Large Enterprises

11 Retail Analytics Market Analysis, By End-User (Page No. - 81)
     11.1 Introduction
     11.2 Online
             11.2.1 Mobiles
             11.2.2 Personal Computers and Laptops
     11.3 Offline
             11.3.1 Supermarkets
             11.3.2 Department Stores
             11.3.3 Specialty Stores
             11.3.4 Others

12 Geographic Analysis (Page No. - 86)
     12.1 Introduction
     12.2 North America
             12.2.1 By Application
             12.2.2 By Business Function
             12.2.3 By Component
             12.2.4 By Deployment Model
             12.2.5 By Organization Size
             12.2.6 By End-User
             12.2.7 By Country
                        12.2.7.1 United States
                        12.2.7.2 Canada
     12.3 Europe
             12.3.1 By Application
             12.3.2 By Business Function
             12.3.3 By Component
             12.3.4 By Deployment Model
             12.3.5 By Organization Size
             12.3.6 By End-User
             12.3.7 By Country
                        12.3.7.1 United Kingdom
                        12.3.7.2 Germany
                        12.3.7.3 Rest of Europe
     12.4 Asia Pacific
             12.4.1 By Application
             12.4.2 By Business Function
             12.4.3 By Component
             12.4.4 By Deployment Model
             12.4.5 By Organization Size
             12.4.6 By End-User
             12.4.7 By Country
                        12.4.7.1 China
                        12.4.7.2 India
                        12.4.7.3 Rest of Asia Pacific
     12.5 Middle East and Africa
             12.5.1 By Application
             12.5.2 By Business Function
             12.5.3 By Component
             12.5.4 By Deployment Model
             12.5.5 By Organization Size
             12.5.6 By End-User
             12.5.7 By Country
                        12.5.7.1 Middle East
                        12.5.7.2 Africa
     12.6 Latin America
             12.6.1 By Application
             12.6.2 By Business Function
             12.6.3 By Component
             12.6.4 By Deployment Model
             12.6.5 By Organization Size
             12.6.6 By End-User
             12.6.7 By Country
                        12.6.7.1 Brazil
                        12.6.7.2 Mexico
                        12.6.7.3 Rest of Latin America

13 Competitive Landscape (Page No. - 109)
     13.1 Microquadrant Overview
             13.1.1 Visionary Leaders
             13.1.2 Innovators
             13.1.3 Dynamic Differentiators
             13.1.4 Emerging Companies
     13.2 Retail Analytics Market (Global), Competitive Leadership Mapping, 2017
     13.3 Competitive Benchmarking
             13.3.1 Business Strategy Excellence Adopted By Major Players in the Market
             13.3.2 Strength of Product Portfolio Adopted By Major Players in the Market

14 Company Profiles (Page No. - 114)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
     14.1 International Business Machines (IBM) Corporation
     14.2 Oracle Corporation
     14.3 Microsoft Corporation
     14.4 Manthan Software Services Pvt. Ltd.
     14.5 Fujitsu Limited
     14.6 Information Builders
     14.7 Microstrategy Incorporated
     14.8 SAP SE
     14.9 Bridgei2i Analytics Solutions Private Limited
     14.10 SAS Institute Inc.
     14.11 Qliktech Technologies Inc.
     14.12 1010data, Inc.
     14.13 Angoss Software Corporation

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 159)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (66 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Evaluation Criteria
Table 3 Retail Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 4 Merchandising Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Pricing Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Customer Management: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Performance Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Yield Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Inventory Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Retail Analytics Market Size, By Business Function, 2015–2022 (USD Million)
Table 12 Finance: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Sales: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Marketing: Market Size, By Region, 2015–2022 (USD Million)
Table 15 Supply Chain: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Store Operations: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Retail Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 18 Software: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Retail Analytics Market Size, By Service, 2015–2022 (USD Million)
Table 20 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Retail Analytics Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 22 On-Premises: Market Size, By Region, 2015–2022 (USD Million)
Table 23 On-Demand: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Retail Analytics Market Size, By Organization Size, 2015–2022 (USD Million)
Table 25 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 26 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Retail Analytics Market Size, By End-User, 2015–2022 (USD Million)
Table 28 Online: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Offline: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Retail Analytics Market Size, By Region, 2015–2022 (USD Billion)
Table 31 North America: Market Size, By Application, 2015–2022 (USD Million)
Table 32 North America: Market Size, By Business Function, 2015–2022 (USD Million)
Table 33 North America: Market Size, By Component, 2015–2022 (USD Million)
Table 34 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 35 North America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 36 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 37 North America: Market Size, By End-User, 2015–2022 (USD Million)
Table 38 Europe: Retail Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 39 Europe: Market Size, By Business Function, 2015–2022 (USD Million)
Table 40 Europe: Market Size, By Component, 2015–2022 (USD Million)
Table 41 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 42 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 43 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 44 Europe: Market Size, By End-User, 2015–2022 (USD Million)
Table 45 Asia Pacific: Retail Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 46 Asia Pacific: Market Size, By Business Function, 2015–2022 (USD Million)
Table 47 Asia Pacific: Market Size, By Component, 2015–2022 (USD Million)
Table 48 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 49 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 50 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 51 Asia Pacific: Market Size, By End-User, 2015–2022 (USD Million)
Table 52 Middle East and Africa: Retail Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 53 Middle East and Africa: Market Size By Business Function, 2015–2022 (USD Million)
Table 54 Middle East and Africa: Market Size By Component, 2015–2022 (USD Million)
Table 55 Middle East and Africa: Market Size By Service, 2015–2022 (USD Million)
Table 56 Middle East and Africa: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 57 Middle East and Africa: Market Size By Organization Size, 2015–2022 (USD Million)
Table 58 Middle East and Africa: Market Size By End-User, 2015–2022 (USD Million)
Table 59 Latin America: Retail Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 60 Latin America: Market Size By Business Function, 2015–2022 (USD Million)
Table 61 Latin America: Market Size By Component, 2015–2022 (USD Million)
Table 62 Latin America: Market Size By Service, 2015–2022 (USD Million)
Table 63 Latin America: Market Size By Deployment Model, 2015–2022 (USD Million)
Table 64 Latin America: Market Size By Organization Size, 2015–2022 (USD Million)
Table 65 Latin America: Market Size By End-User, 2015–2022 (USD Million)
Table 66 Market Ranking for the Retail Analytics Market, 2017


List of Figures (36 Figures)

Figure 1 Retail Analytics Market: Market Segmentation
Figure 2 Retail Analytics Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Retail Analytics Market: Assumptions
Figure 8 Retail Analytics Market: Evolution
Figure 9 Retail Analytics Market is Expected to Witness A Significant Growth During the Forecast Period, Due to Increasing Internet Use
Figure 10 Market Snapshot By Component (2017–2022)
Figure 11 Market Snapshot By Application (2017–2022)
Figure 12 Market Snapshot By Business Function (2017–2022)
Figure 13 Market Snapshot By Deployment Model (2017–2022)
Figure 14 Increased Use of Data-Intensive Platforms is Expected to Drive the Retail Analytics Market Growth During the Forecast Period
Figure 15 North America is Estimated to Dominate the Global Retail Analytics Market in 2017
Figure 16 Merchandising Analysis Application, and North America are Estimated to Have the Largest Market Shares in 2017
Figure 17 Asia Pacific is Expected to Enter the Exponential Growth Phase During the Forecast Period
Figure 18 Retail Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Increasing Global Internet Usage
Figure 20 Retail Analytics Market: Key Performance Indicators
Figure 21 Merchandising Analysis Application is Estimated to Have the Largest Market Size in 2017
Figure 22 The Supply Chain Business Function is Estimated to Have the Largest Market Size in 2017
Figure 23 Software Segment is Expected to Have the Larger Market Size During the Forecast Period
Figure 24 On-Premises Deployment Model is Expected to Have the Larger Market Size During the Forecast Period
Figure 25 Large Enterprises Segment is Expected to Have the Larger Market Size During the Forecast Period
Figure 26 Offline End-User Segment is Expected to Have the Larger Market Size During the Forecast Period
Figure 27 North America is Expected to Have the Largest Market Size in the Retail Analytics Market During the Forecast Period
Figure 28 North America: Market Snapshot
Figure 29 Asia Pacific: Market Snapshot
Figure 30 International Business Machines Corporation: Company Snapshot
Figure 31 Oracle Corporation: Company Snapshot
Figure 32 Microsoft Corporation: Company Snapshot
Figure 33 Fujitsu Limited: Company Snapshot
Figure 34 Microstrategy Incorporated: Company Snapshot
Figure 35 SAP SE: Company Snapshot
Figure 36 SAS Institute Inc.: Company Snapshot

The retail analytics market is expected to grow from USD 3.52 Billion in 2017 to USD 8.64 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.7%. Advancement in technologies, such as machine learning, Artificial Intelligence (AI), and augmented reality, and increased used of data-intensive platforms and rapid adoption of social media are some of the key drivers of this market.

The report provides detailed insights into the global retail analytics market, which is segmented on the basis of applications, business functions, components, deployment models, organization sizes, and regions. In the retail analytics market, the supply chain business function is expected to hold the largest market share during the forecast period. With the intense market competition and declining customer loyalty in the retail industry, supply chain plays a vital role in terms of revenue optimization. If a customer enters a retail store or logs-in into any eCommerce website and fails to find the product as per his requirement, it ultimately results in loss of revenue and can even lead to client loss. The key analytical software for supply chain in the retail sector is focused on inventory management, supply and demand forecasting, and vendor management among others.

Large enterprises have a high adoption rate as compared to the SMEs. Large size retailers have started investing in digital capabilities and analytic solutions to effectively compete and become better aligned with changing consumer preferences. The adoption of analytics solutions enables retailers to make quick and effective business decision based on real-time data.

The offline end-user is expected to have the largest market size during the forecast period. The emergence of real-time analytics is one of the drivers that trigger the adoption of retail analytics software. Vendors are deploying the software either on-premises or on-cloud to gain actionable insights on customers shopping behavior. Retail chains have deployed sensors and cameras to gain the understanding of the products that customers are more liable to buy. Moreover, the analytics is also being used to forecast demand analysis, proper inventory management, and to formulate a proper risk management process for the company. Retail stores are sub-segmented into supermarkets, department stores, specialty stores, and others which include convenience stores and kiosks.

Retail Analytics Market

The report covers all the major aspects of the retail analytics market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to hold the largest market share, whereas the APAC region is projected to provide significant opportunities in this market and expected to grow at the highest CAGR during the forecast period.

The deployment of retail analytics software is intensifying owing to the constant pressures that stem from the competitive environment the retail industry works in. The only way to gain a competitive edge in this market is to embrace the use of “big data” and qualitative data to maximize the engagement with consumers, and improve their shopping experience. As retail analytics technology is evolving, new paradigms are getting integrated such as machine learning and artificial intelligence which will be instrumental in improving customer shopping experience and help retailers to drive sales and increase customer loyalty significantly. The retail analytics market encompasses many players, such as International Business Machines Corporation, Microsoft Corporation, SAP SE, and SAS Institute Inc., who have adopted numerous growth strategies, such as mergers and acquisitions, new product launches, and business expansions to enhance their market share. The companies are increasingly deploying both organic as well as inorganic strategies to drive their growth in the growing retail analytics market. The North American region is touted as the largest adopter of retail analytics software and services. The unprecedented success witnessed by retail chains such as Walmart and The Kroger Company with their super efficient inventory management, logistics capabilities are some of the case studies which would ensure other retailers also to follow similar suit to gain a competitive advantage in the market. Similarly, high growth of eCommerce will also play a prominent role in the adoption of retail analytics software. According to National Retail Federation, the US eCommerce market is estimated to grow between 8–12% in 2017. eCommerce players will not only use the power of analytics to forecasts the demands of products and inventory analysis but also comprehend sentimental analysis on numerous social media platforms such as Twitter and Facebook.

The lack of skilled personnel and high initial setup costs are the major restraining factor for the growth of the retail analytics market. Complexities in gathering and integrating data from omnichannel commerce streams and increased consumer preferences are the challenges in adopting retail analytics software and services.

Most of the vendors have adopted acquisitions, agreements, collaborations and partnerships, new product launches, product upgradations, and expansions as their key strategies to expand their client base and enhance the customer experience.

For instance, in January 2016, Fujitsu Limited and Cisco Systems expanded their partnership to provide retailers advanced in-store computing and analytics solutions. Fujitsu Limited plans to resell, distribute, and offer Cisco System’s solutions to retailers across North America for maximizing in-store customer engagement, retention, and sales. The strategy of new product launch has also been adopted by the top players to enhance their presence and dominance in this market. For example, in January 2017, Oracle Corporation introduced the Oracle Retail Release 16 Suite, which empowers retailers to deliver a unified customer experience across various geographic locations. This suite provides cloud-based and on-premises solutions to enterprises of all sizes.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Available Customizations Title

Client Customization Problem Statement :

Retail Analytics Market

Solution Provided:

MnM’s client was interested in the company profiles of Prism Skylabs and RetailNext, prominent players ....

MnM’s client was interested in the company profiles of Prism Skylabs and RetailNext, prominent players of ‘in-store analytics’ solutions. Area of interest included insights on ‘merchandising and in-store analytics’ segment of retail analytics market.

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