In the potential regions such as North America and Europe consumer packaged goods (CPG) sector has developed swiftly to meet consumer demands due to the implementation of digital technology, which has enabled several brands to establish markets by selling directly to customers. Numerous retail giants across the world have launched their CPG marketplaces in order to capitalize on changes in consumer behavior, growing distribution channels, and the arrival of customer-centric digital brands that are taking over the CPG industry. Thus, the CPG industry’s growing focus positively impacts the retail execution software market, which helps to manage in-store activities in the CPG industry.
Kantar Group Ltd, Accenture plc, Telus Communications Inc., SAP SE, and StayinFront, Inc. – Prominent Market Participants in Retail Execution Software Market
APAC is witnessing massive growth in the retail industry due to rising ecommerce business, which is surging sales of the industry. The region is also highly focused on adopting retail execution software, which brings data and features to the hands of the end-users in real-time. This next-gen software would help businesses in the region accelerate productivity and improve business processes at the business-user level with minimal IT support. As the retail sector has become more automated, the retail execution software has become crucial among businesses since it helps companies gain visibility of merchandise, orders, inventory, and customer demand.
Companies are highly engaged in developing new products to gain traction in the market. For instance, Salesforce launched a new industry product, namely, Consumer Goods Cloud, which allows consumer goods companies to fuel revenue growth and increase ROI through enhanced retail execution capabilities. This product would allow businesses to transform retail execution to ensure the best product gets to the right store at the right time. Also, the market is highly competitive in nature and lack of a small set of leading companies. A majority of regional players are operating in the market with annual retail execution software revenues of less than US$ 10 Mn. The players operating in the market are focused on expanding their geographical footprint through channel partners and their subsidiaries.
Few of the important market initiatives from the industry are mentioned below:
|
Year |
News |
Region |
|
2020 |
StayinFront, Inc. had acquired Lab4Motion Solutions. Seamless integration with the StayinFront TouchCG platform enables consumer goods organizations to improve in-store productivity and gain actual-time visibility into product performance and customer behavior at the shelf by delivering actionable insights to sales representatives and managers. |
North America |
|
2019 |
Trax Technology Solutions Pte Ltd. had acquired a leading European provider of image recognition for retail execution Planorama. The acquisition would build upon the significant depth and breadth of foundation already in place to serve CPG customers globally by expanding customer reach and making available a comprehensive set of in-store execution tools to the market. |
APAC |
