Retail analytics is a crucial tool that delivers insights associated with the customers, sales, inventory, and other essential aspects which is useful in merchants’ decision-making process regarding the marketing and procurement. There are several online and offline retailers that are adopting retail analytics solution to make better-informed decisions. Rising adoption of retail analytics platform by offline retailers is a crucial factor contributing to the growth of the market. The offline retailers that have started using analytics includes Pantaloons, Shoppers Stop, and Arvind Mills. The retail analytics platform offers significant benefits such as encouraging consumers to try new products and optimize product placement. This enables to boost the brand and sales by delivering seamless shopping experience across all channels where consumers shop. It offers businesses the capability to collect customer related data in order to effectively understand various aspects of customer needs. The retail analytics data usually comprise store promotions, foot traffic, and product purchases. Such information allows business owners to address store issues and prepare strategies for promotions, new products, and certain signage. This makes retail analytics a useful tool for potential marketing for offline customers. It is estimated that the demand for retail analytics in offline stores is expected to rise significantly due to increasing competition in the retail sector and significant demand for predictive analytics solution to improve performance across the entire value chain.

The global retail analytics market is segmented on the basis of the component, application, and end¬-user. Based on the component, the market is further classified into software and service. Based on application, the market is further segmented into merchandising analysis, customer management, pricing analysis, performance analysis, inventory analysis, yield analysis, and supply chain management. Merchandise analysis is one of the major applications of retail analytics. Several retail merchandising analytics solutions are commercially available to offer actionable insights into category planning and merchandising operations that support retailers to work smarter. The solutions enable a business to track new product performance, improve margins, optimize markdowns, and store-front layout. It offers relevant information for strategic planning that supports to improve store performance. Based on end-user, the market is further segmented into online and offline.

Geographically, the global retail analytics market is divided into four major regions, such as North America, Europe, Asia-Pacific and RoW. North America retail analytics market is estimated to witness significant share due to increasing adoption of big data analytics solutions in the retail sector. However, Asia-Pacific is anticipated to witness optimistic growth in the market owing to the increasing presence of global retailers and rapid growth in the retail sector within the region.

Some of the major players operating in the market include IBM Corp., Oracle Corp. Johnson Controls International PLC, RetailNext, Inc., and Microsoft Corp. These companies are adopting several strategies, such as merger and acquisitions, product launches, and partnership and collaborations to expand market share globally. For instance, in November 2018, Nielsen and Microsoft Corp. collaborated to accelerate innovation in the retail sector. The partnership has been witnessed through Nielsen Connect. With AI (artificial intelligence) services and advanced analytics built on Microsoft Azure, Nielsen connect allows companies to combine data assets to faster diagnose performance gaps, more easily spot emerging trends and act rapidly on opportunities to grow. The integration of Nielson and Microsoft solution will act as one-stop-shop to develop high performance, scalable data environments that allow better real-time collaborations for a quick result in Fast-Moving Consumer Goods (FMCG) retail marketplace. With this partnership, these two companies will work towards a mutual vision of a connected and open data universe to help the retail industry reimagine their data approach.

Research Methodology:

The market study of the global retail analytics market is incorporated by extensive primary and secondary research conducted by research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Authentic public databases.
• Annual reports and forward-looking statements of key market players
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalogue.

The report is intended for retail companies, potential entrants and private organizations for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. Global Retail Analytics Market Research and Analysis by Deployment Model
2. Global Retail Analytics Market Research and Analysis by Application

The Report Covers:

• Comprehensive research methodology of global retail analytics market.
• This report also includes detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global retail Analytics
• Insights about market determinants which are stimulating the global retail analytics market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.