Retail Analytics Market worth $4.40 Billion by 2019, Says the New Study on ASDReports

Thursday 2 October 2014, Amsterdam

According to recent studies, various sources of shrink such as theft, Organized Retail Crime (OCR), fraud from supplier’s end, shoplifting and others caused an overall loss of around $112 Billion in 2012. Minimizing such monetary losses is one of the functionalities that the retail analytics solutions offer today. Thus, a number of Small and Medium Businesses (SMBs) and large enterprises are rapidly deploying data analytics tools that can provide effective prediction, analysis and reporting for alleviating shrink.

The report has broadly segmented the retail analytics market by business functions into marketing and customer analytics, merchandizing and in-store, supply chain and strategy and planning; by solutions into data management software, analytics software, mobile applications, and reporting and visualization tools; by services into professional services and support and maintenance services; by deployment type into on-premise and on-demand and by regions into North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).

Though the retail analytics solutions are applied for numerous functionalities such as campaign management, customer acquisition, retention and loyalty management, space planning and optimization, cluster planning, demand and supply forecasting, inventory management, workforce management, fraud and risk management and others. The report believes that spend shift at the consumer end attributed to the economic slowdown and technological constraints are the major issues in the retail analytics market. These challenges carry significant potential of hampering the adoption rate of retail analytics solutions by numerous retailers.

The retail analytics market is estimated to grow from $1.88 billion in 2014 to $4.40 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 18.6% from 2014 to 2019. Geographically, North America is expected to be the biggest market in terms of revenue contribution while Latin America (LA) and Asia-Pacific (APAC) are expected to emerge rapidly in this market with high CAGRs for 2019.