An introduction to the retail omni-channel commerce platform market
Retail omni-channel commerce platform is a cross-channel business model that retail companies use to improve their customer experience. In addition, omni-channel is a multi-channel sales approach that provides the consumer with an integrated shopping experience. A retail omni-channel approach accounts for each platform and device a customer will use to interact with the company. This knowledge is then used to deliver an integrated shopping experience. Companies using this technique align their messaging, goals, objectives, and design across each channel and device.
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Rapid adoption of e-Commerce in the retail industry anticipated to boost global market revenue growth
e-Commerce is witnessing a significant rise in adoption across both developed and developing countries across the world. Global sales via the online platform is on a robust growth trajectory with a burgeoning internet penetration and increased smartphone adoption. e-Commerce being one of the major channels in the omni-channel commerce platform ecosystem, has a direct effect on the global retail omni-channel commerce platform market growth. Top retailers have already adopted the retail omni-channel commerce platform to provide a seamless shopping experience to their customers. With advanced technologies and necessary resources easily available today, small and medium sized retailers are also expected to start investing in this software to sustain in the global market. Also, large-scale penetration of the internet has had an overall impact on the retail industry as it has boosted the global e-Commerce market. To compete with leading and well-established top e-tailers, retailers will need to adopt a robust omni-channel commerce platform that links their store with their own online channel.
e-Commerce solution segment to exhibit considerable growth rate over the forecast period
On the basis of solution, the global retail omni-channel commerce platform market is segmented as e-Commerce, Order Management and Others. e-Commerce is the largest segment in terms of revenue share, estimated to hold about 60% of the global market value share by the end of 2017. This is however anticipated to dip to about 55% by the end of the forecast period in 2025, resulting in a loss in BPS to the tune of 470 basis points. The e-Commerce segment is estimated to reach a market valuation of US$ 8,305.2 Mn by the end of 2025, registering a CAGR of 18.7% in terms of value during the forecast period 2017 – 2025. However, the Others segment is expected to register high Y-o-Y growth rates throughout the forecast period. The Others segment will also lead in terms of value CAGR, exhibiting a growth rate of 21.8% during the forecast period. In terms of value, the e-Commerce segment is projected to be the most attractive solution type in the global retail omni-channel commerce platform market during the forecast period, with a market attractiveness index of 5.0. In 2016, the e-Commerce segment was valued at US$ 1,786.4 Mn and is expected to witness high growth in terms of revenue throughout the forecast period.