Market Overview:
The global retail analytics service market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for retail analytics services from SMEs and large enterprises across different regions. Retail analytics services help businesses in understanding customer behavior, pricing strategies, merchandising techniques, and performance analysis of their products and services.
Product Definition:
Retail Analytics Service is a cloud-based service that helps retailers to understand their customer behavior and preferences. The service provides insights into what products customers are buying, how they are buying them, and when they are buying them. This information can help retailers improve their product assortment, marketing efforts, and store layout.
Merchandising Analysis:
Merchandising analysis is a marketing tool used to analyze the buying behavior of customers. It helps in understanding customer preferences, their buying criteria and how they make purchasing decisions. This type of analysis also helps understand different product categories and their respective market shares along with forecast up to 2020. The primary goal of merchandising analysis is to maximize profit by understanding consumer behavior, which can be achieved through effective assortment planning and store layout design that caters to customer needs effectively.
Pricing Analysis:
Pricing analysis is the process of determining price elasticity or price sensitivity of a product or service. It helps to understand consumer buying behavior and their preferences in pricing, quality, and quantity. Pricing analysis is important for retailers as it helps them to understand customer requirements and analyze pricing strategies accordingly.
Application Insights:
The retail enterprises can use the data collected from various sources to improve their operations. The analytics enabled by global retail analytics service helps retailers in gaining insights into consumer behavior and trends, which enables them to deliver a personalized experience to the customers. It also allows retailers to optimize their asset utilization, identify potential areas of growth and develop strategies for future expansion.
The others segment includes marketing & sales analysis applications that enable retailers to analyze customer data from different sources (store level inventory & transaction data; online) and generate insights about customer behavior (online & offline). These applications help companies in planning effective marketing campaigns as well as understanding consumer needs so as to meet those requirements with improved offerings over time. Additionally, these solutions provide an overall picture of the marketing efforts at a store level which is beneficial for both small and large stores alike.
Regional Analysis:
The Asia Pacific region is expected to emerge as the fastest-growing regional segment over the forecast period. The growth can be attributed to increasing penetration of e-commerce and changing shopping preferences among consumers. The rise in online retail sales has also fueled market growth in this region. Furthermore, improving infrastructure facilities and growing population have contributed to market growth in this region.
North America held a significant share of global revenue owing to high demand from enterprises for analytics services that help them make better strategic decisions regarding their business operations, such as pricing strategies, inventory management, promotional activities, etcetera., thereby contributing toward regional market development. Moreover North America is anticipated to witness steady growth over the next eight years owing to its well-established IT sector and mature retail industry which are majorly driven by technology advancements resulting into increased adoption of analytics solutions among retailers globally including Walmart Inc., Kroger Co., Carrefour S.A.
Growth Factors:
- Increasing demand for big data and analytics services by retail sector to improve customer experience and drive sales.
- Proliferation of digital channels and technologies that are creating new opportunities for retailers to collect, process, and analyze data in real-time.
- Emergence of cloud-based solutions that allow retailers to quickly deploy analytics capabilities without the need for significant IT investments.
- Growing demand from small businesses and mid-market retailers who are looking to leverage analytics to compete with larger players in their markets.
Scope Of The Report
Report Attributes
Report Details
Report Title
Retail Analytics Service Market Research Report
By Type
Merchandising Analysis, Pricing Analysis, Performance Analysis, Yield Analysis, Others
By Application
SMEs, Large Enterprises
By Companies
IBM, Oracle, Microsoft, Manthan, Blue Yonder (formerly JDA), MicroStrategy, SAP, Bridgei2i, SAS Institute, Qlik, SPS, Tableau, Nielsen, HCL Technologies, ShopperTrak
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
192
Number of Tables & Figures
135
Customization Available
Yes, the report can be customized as per your need.
Global Retail Analytics Service Market Report Segments:
The global Retail Analytics Service market is segmented on the basis of:
Types
Merchandising Analysis, Pricing Analysis, Performance Analysis, Yield Analysis, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
SMEs, Large Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM
- Oracle
- Microsoft
- Manthan
- Blue Yonder (formerly JDA)
- MicroStrategy
- SAP
- Bridgei2i
- SAS Institute
- Qlik
- SPS
- Tableau
- Nielsen
- HCL Technologies
- ShopperTrak
Highlights of The Retail Analytics Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Merchandising Analysis
- Pricing Analysis
- Performance Analysis
- Yield Analysis
- Others
- By Application:
- SMEs
- Large Enterprises
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Retail Analytics Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Retail analytics service is a type of business intelligence (BI) that helps retailers understand customer behavior and trends in order to improve their marketing, merchandising, and sales strategies. Retail analytics can also help identify areas where the retailer could make improvements in its operations.
Some of the major players in the retail analytics service market are IBM, Oracle, Microsoft, Manthan, Blue Yonder (formerly JDA), MicroStrategy, SAP, Bridgei2i, SAS Institute, Qlik, SPS, Tableau, Nielsen, HCL Technologies, ShopperTrak.
The retail analytics service market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Retail Analytics Service Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Retail Analytics Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Retail Analytics Service Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Retail Analytics Service Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Retail Analytics Service Market Size & Forecast, 2018-2028
4.5.1 Retail Analytics Service Market Size and Y-o-Y Growth
4.5.2 Retail Analytics Service Market Absolute $ Opportunity
Chapter 5 Global Retail Analytics Service Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Retail Analytics Service Market Size Forecast by Type
5.2.1 Merchandising Analysis
5.2.2 Pricing Analysis
5.2.3 Performance Analysis
5.2.4 Yield Analysis
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Retail Analytics Service Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Retail Analytics Service Market Size Forecast by Applications
6.2.1 SMEs
6.2.2 Large Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Retail Analytics Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Retail Analytics Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Retail Analytics Service Analysis and Forecast
9.1 Introduction
9.2 North America Retail Analytics Service Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Retail Analytics Service Market Size Forecast by Type
9.6.1 Merchandising Analysis
9.6.2 Pricing Analysis
9.6.3 Performance Analysis
9.6.4 Yield Analysis
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Retail Analytics Service Market Size Forecast by Applications
9.10.1 SMEs
9.10.2 Large Enterprises
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Retail Analytics Service Analysis and Forecast
10.1 Introduction
10.2 Europe Retail Analytics Service Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Retail Analytics Service Market Size Forecast by Type
10.6.1 Merchandising Analysis
10.6.2 Pricing Analysis
10.6.3 Performance Analysis
10.6.4 Yield Analysis
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Retail Analytics Service Market Size Forecast by Applications
10.10.1 SMEs
10.10.2 Large Enterprises
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Retail Analytics Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Retail Analytics Service Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Retail Analytics Service Market Size Forecast by Type
11.6.1 Merchandising Analysis
11.6.2 Pricing Analysis
11.6.3 Performance Analysis
11.6.4 Yield Analysis
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Retail Analytics Service Market Size Forecast by Applications
11.10.1 SMEs
11.10.2 Large Enterprises
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Retail Analytics Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Retail Analytics Service Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Retail Analytics Service Market Size Forecast by Type
12.6.1 Merchandising Analysis
12.6.2 Pricing Analysis
12.6.3 Performance Analysis
12.6.4 Yield Analysis
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Retail Analytics Service Market Size Forecast by Applications
12.10.1 SMEs
12.10.2 Large Enterprises
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Retail Analytics Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Retail Analytics Service Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Retail Analytics Service Market Size Forecast by Type
13.6.1 Merchandising Analysis
13.6.2 Pricing Analysis
13.6.3 Performance Analysis
13.6.4 Yield Analysis
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Retail Analytics Service Market Size Forecast by Applications
13.10.1 SMEs
13.10.2 Large Enterprises
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Retail Analytics Service Market: Competitive Dashboard
14.2 Global Retail Analytics Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Oracle
14.3.3 Microsoft
14.3.4 Manthan
14.3.5 Blue Yonder (formerly JDA)
14.3.6 MicroStrategy
14.3.7 SAP
14.3.8 Bridgei2i
14.3.9 SAS Institute
14.3.10 Qlik
14.3.11 SPS
14.3.12 Tableau
14.3.13 Nielsen
14.3.14 HCL Technologies
14.3.15 ShopperTrak
