About ERP for Retailers
Enterprise Resource Planning systems refer to the software packages that integrate all the data and the related processes of an organization. It becomes a competitive tool for large retail organizations, designed to facilitate the optimization of internal business processes across an enterprise. A retail ERP is an ERP software that fulfil the needs of the retail industry with specific functionalities related to the industry. It makes the store processes more organized, improves overall productivity and increases customer satisfaction. Moreover, it facilitates the movement of data quickly to allow decision-makers to reach the best possible outcomes while making well-informed, on-the-spot data-driven decisions. Growing demand from large and mid-sized retailer owing to the presence in more locations and to manage business processes properly is the key driving factor for the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global ERP for Retailers market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SAP SE (Germany), IBM (United States), Microsoft (United States), Oracle (United States), Deskera (United States), Sage Software Solutions Pvt. Ltd. (India), Exact (United States), Infor (United States), Plex Systems (United States) and Tech Cloud ERP (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are VIENNA Solutions (Germany), Epicor Software Corporation (United States), Intelligent Systems (Bulgaria), Elinext Group (United States) and Cybex Systems (Canada).
Segmentation Overview
AMA Research has segmented the market of Global ERP for Retailers market by , Application (Customer & Employee Management, Inventory & Supply Chain Management, Purchase and vendor management, E-Commerce Integration, Sales reporting and analytics, Finance Management and Others (Retail Planning, Database Integration, Demand Forecasting, Omnichannel Customer Experience)) and Region.
On the basis of geography, the market of ERP for Retailers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprises will boost the ERP for Retailers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Option, the sub-segment i.e. Monthly Subscription will boost the ERP for Retailers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Cloud-based will boost the ERP for Retailers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. General Retail will boost the ERP for Retailers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the ERP for Retailers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of Software with Other Merchandise and Stock Management Operations and Omnichannel Retail Operation from Single Source
Market Growth Drivers:
Increasing demand from retail industry players specialized in different businesses and the growing popularity of ERP-based software with various features is driving the demand for the retail ERP market., Rapid Increase in Retail Industry across the Globe with High Investment from Developing Economies, High Productivity with Cost-Effective Solutions and Time-Saving, Real-time Operation Management and Customer Experience Management and Easy Customization and High ROI
Challenges:
Increase in Operational & Production Costs and Less Skilled and Trained Workforce
Restraints:
Not a Good Fit for Retail Brand with Only One or Two Locations and Availability of Legacy ERP Systems
Opportunities:
Growth in the Small Businesses and Niche Industries, Increased Adoption of Cloud-Based ERP Systems, Latest Technology such as IoT, Blockchain, and Artificial Intelligence and Growing Popularity of Mobile and Social Commerce
Market Leaders and their expansionary development strategies
In September 2023, Priority Software has acquired of Retailsoft, a leading developer of innovative technology solutions that optimize retail business efficiency and enhance revenue growth. By incorporating Retailsoft's solutions, Priority will broaden its retail management offerings, delivering significant value to retailers. Moreover, Retailsoft's current clients will benefit from access to Priority's business management tools. The acquisition, continues its growth trajectory, it proudly boasts an array of solutions, positioning the firm as a foremost global provider of business management tools.
In February 2021, Minos UX, Inetum’s new-generation ERP, is a dedicated business solution for Retail players to manage all their flows. A solution that brings new opportunities to retailers and embodies Positive digital flow. The new launch developed with the aim to digitise industrial and logistical environments, this business ERP quickly became a must for companies that operate in the Retail market.
Key Target Audience
ERP software developers and service providers, System Integrators, Software & IT Firms, Investors/Distributors, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.