According to the Market Statsville Group (MSG), the global retail execution software market size is expected to grow from USD 342.61 million in 2022 to USD 875.21 million by 2033, growing at a CAGR of 8.9% from 2023 to 2033. The adoption rate of retail execution software is increasing as new technologies become more widely adopted in the retail business. Companies buy software to help them run their businesses more efficiently. India and China are the fastest-growing retail and e-commerce economies in Asia Pacific. Due to expanding internet penetration, consumers in these nations are increasingly attracted to purchase online, and online shopping trends are revolutionizing various aspects of retail and e-commerce in the region. As a result, these factors are boosting the retail execution software market in Asia Pacific forward. Moreover, COVID-19 also had a significant impact on the overall market growth. Furthermore, developments in payment gateway technology and a surge in the use of mobile wallets are credited with the market's growth. Increased integration of payment gateway systems with retail execution software, as well as increased online shopping and innovations in billing methods, are projected to further boost the market. On the other hand increasing security risks has hindered the market growth over the forecasting period around the globe.

Definition of the Global Retail Execution Software Market

Retail Execution uses advanced image-recognition technology and deep-learning algorithms to digitize the shelf and maximize sales. It identifies which sales reps and retail locations are falling behind expectations. The photos provide objective references of store conditions. Analytics reveal how well they benchmark. And insights give the users the knowledge they require to elevate their performance. It also raises the ability to attract more attention of end customers to brands and groups of Products through the most favorable placement of goods and point on sale materials in sales areas and store counters. It provides operational efficiency and customers satisfaction through auto-detection of on-shelf availability for a shelf, transparency of image recognition analytics for all levels, inclusion of metrics in employee motivation and more.

Field salespeople and merchandising strategists at consumer-packaged goods (CPG) businesses utilize retail execution software to increase sales and profit at retail outlets where their products are sold. Retail and mobile workforce guidance and product education, Product pricing and placement optimization, Product promotion strategy, deployment, Retail site audit workflow, inspection software features, Data collection (e.g., images, surveys, others), New product order placement, Workforce management features for field sales / merchandising tea all of this can be done with the help of a single software.

COVID-19 Impact on the Global Retail Execution Software Market

The COVID-19 outbreak has negatively affected the Asia Pacific region. This region is recognized by the presence of developing countries, positive economic outlook, high industrial presence, huge population, and rise in disposable income. All these factors make APAC a major driving region for markets such as retail execution software. Due to the pandemic, consumers have been pushed toward online shopping. The uncertain consumer demand and supply chain problems have impacted the e-commerce industry in the region. The factory closures mainly strain the e-commerce supply chains due to pandemic in China. The lockdown of various factories in China has affected the global supply chains and negatively impacted manufacturing, retail execution schedules, and various products and services sales.

The pandemic has also severely impacted logistics operations, transportation, and trade activity. North America is a center for a large number of manufacturing and technology companies, and thus the impact of coronavirus outbreak is anticipated to be quite severe. Nevertheless, online grocery and food business sales have now increased in the region. Consumers are starting to spend on products that would help them get through the COVID-19 crisis, including online grocery pickup and retail execution. To manage operation with half manpower and maintaining social distancing the demand for the retail execution software surged as it effectively assists in managing tasks and day to day operations remotely. It also monitors supply chain nodes effectively hence, the market for retail execution is surged with the ease in COVID-19 guidelines and restart of online channels and e-commerce.

Global Retail Execution Software Market Dynamics

Drivers: Integration of payment gateway solutions with retail execution software

With the increasing digitalization and its adoption in the retail industry, the overall organization’s operations have become easily manageable. However, increasing online payment issues and associated frauds surges the demand for effective and reliable solutions, which provide a gateway for all types of payments, reduce associated frauds, and keep the record of all payments. Hence, increasing the demand for the retail execution software integrated with payment gateway solutions. A payment gateway is defined as a server and software which transfers all information related to the online transaction to a specific bank as well as responses from the bank or information such as payment is successful or declined to consumers. It is majorly known as a mediator between banks and various e-commerce websites. This gateway acts as intermediary in-between banks and e-commerce sites. These gateways also provide some security by offering address verification and card verification. The payment gateway provides communication between the bank and online merchants. The integration of payment gateways and retail execution software will accelerate the market’s growth in forthcoming years.

Additionally, online payments are relatively popular in APAC as most consumers use mobiles to pay for goods. Several popular e-payment options are used for mobile digital purchases in countries, such as South Korea, Japan, Singapore, and Australia. Payment gateway companies in these countries are offering comprehensive e-payment solutions to various retail execution software providers in order to catch the wave of technological development.

Restraints: Increasing security risks

As the pace of change from offline to online shopping gathers momentum in retail, security risks have substantially grown. The unprecedented disruptions are also increasing, making the retail landscape more vulnerable than ever before. While organizations have begun to focus attention on tackling cyber risk, the issue is not going away. In fact, all studies point to a growing ever-more challenging problem, as it shape-shifts to elude those attempting to address it. With all the advantages of online retail execution, the security risks are a restraint to the growth of the global retail execution market.

Several reasons conspire to make the problem of cybersecurity more elevated. The first is that public networks are designed to share information, not protect it. The major organizational risk derives from human factors—employees and third parties. Additionally, cyber risk and business performance are closely related. The very things organizations undertake to grow tend to aggravate cyber risk. These factors lead to high cyber security risks and may restrict the market's growth.

Opportunities: Integration of big data analytics technology in retail execution

In the retail sector, big data analytics is being used at every level of the retail process to understand customer behaviour, predict demand, and optimize pricing. The big data organizational sizes in retail are for data-driven adaptive supply chains, system-wide cost reduction, improving online and in-store customer experience, and real-time analytics and targeting. Talking about the organizational size, big data analytics in the retail sector are being separated as merchandising and supply chain analytics, customer analytics, social media analytics, and operational intelligence, which are used in small and medium enterprises and large-scale organizations.

Big data analytics is turning out to be one of the best tools to improve customer engagement in the retail industry. Various industries are providing big data analytics solutions. For instance: IBM provides retailers with profound insights into consumer behaviour, which enable them to make effective business decisions. These solutions can be segmented into customer analytics and sales & product analytics. Another example of industry adoption of big data analytics is Cisco Systems Inc. The Cisco FastRetail solutions that provide a flexible and scalable IoE (Internet of Everything) platform for automated retail analytics are gaining major traction in the retail industry. Thus the tremendous adoption of big data analytics in various industrial verticals is the major opportunity for the global retail software execution market to grow.

Scope of the Global Retail Execution Software Market

The study categorizes the retail execution software market based on product type, organizational size and application area at the regional and global levels.

By Product Type Outlook (Sales, USD Million, 2019-2033)

• On Premises
• Cloud

By Organizational Size Outlook (Sales, USD Million, 2019-2033)

• SMEs
• Large Enterprises

By Application Outlook (Sales, USD Million, 2019-2033)

• Retail Operations
• Field Service Management
• Mobile Forms Automation
• Field Sales
• Trade Promotion Management
• Employee Engagement
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

On Premises segment accounts for the largest market share by product type

Based on the product type, the market is divided into on-premises and cloud. The on-premises segment is expected to dominate the market share in 2022 in the global retail execution software market. The on premises segment currently dominates the market share in the retail execution software market. The on-premises retail market is expanding, with technology playing an important part in automating services to provide a better client experience. The number of online grocery consumers in the United States has climbed by 35 million, demonstrating that on-premises retail execution is a trend and a new wave of customer behaviors. Market suppliers may automate and streamline the retail execution process by leveraging the benefits of machine learning. As a result, throughout the projection period, this trend is expected to raise demand for retail execution software.

North America is expected to witness the largest market share by Region

Based on the regions, the global retail execution software market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. Fast-growing economies, improved acceptance of automated technology, higher internet penetration, and extensive software use by end users are all expected to drive growth in this region's retail execution software industry. Wal-Mart, The Home Depot, Costco, Kroger, and Target are examples of North American businesses. With a well-established retail sector, the presence of leading retail execution software industry companies such as Mobisoft Infotech LLC, POPProbe, Spring Mobile Solutions, and TRAX IMAGE RECOGNITION is also contributing to the region's market growth.

Competitive Landscape: Global Retail Execution Software Market

The retail execution software market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global retail execution software market are:

• Trax
• Valomnia
• Ailet
• Repsly
• GoSpotCheck
• Pitcher
• Movista
• Pepperi
• AFS Technologies
• Flowfinity Wireless
• StayinFront
• VisitBasis Tech
• ERun Systems
• Kantar Consulting
• YOOBIC

Recent Development

• In February 2022, Repsly, a retail technology platform announced that it has entered into a technology partnership agreement with Curaleaf, an international provider of consumer products in cannabis. This agreement will support Curaleaf’s wholesale work across the US by offering retail execution support, CRM solutions, and business analytics.
• In October 2021, Yoobic collaborated with Spanish retailer Desigual. Yoobic will provide the solution that allowed to centralize the task management and communications across the entire store estate, to ensure the customer experience and ‘look and feel of company stores was both consistent and streamlined.
• In October 2019, Movista Inc., provider of the advanced, mobile-first retail execution and workforce management platform, announced the acquisition of Natural Insight, a retail technology provider. This acquisition will bring together two of the domain providers in retail execution technology to greatly consolidate the marketplace.
• In March 2019, AFS Technologies and Exceedra collaborated and offered an Integrated TPM solution. Both the corporate provides a serious growth opportunity for both businesses through an extended product offering for the growing market.

Key Issues Addressed

• What is the market size by various segmentation of the retail execution software by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the retail execution software market?
• What are the key opportunities and trends for manufacturers involved in the retail execution software supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of retail execution software in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.