PUBLISHER: The Business Research Company | PRODUCT CODE: 1500049
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500049
E-merchandising software denotes applications or platforms utilized by online retailers to optimize their digital storefronts and enhance the online shopping experience for customers. This software typically incorporates diverse tools and features aimed at improving product presentation, navigation, and overall sales performance.
The primary types of e-merchandising software are categorized as cloud-based and on-premises. Cloud-based refers to a service or application hosted, accessed, and managed over the Internet instead of locally on a user's device or physical infrastructure. The various deployment modes encompass public cloud, private cloud, and hybrid cloud, while pricing models include subscriptions and one-time licenses. These solutions cater to various enterprise sizes, ranging from small and medium-sized enterprises (SMEs) to large enterprises, across multiple sectors such as apparel and footwear, groceries and food, home and furniture, electronics and jewelry, beauty and personal care, among others.
The e-merchandising software market research report is one of a series of new reports from The Business Research Company that provides e-merchandising software market statistics, including the e-merchandising software industry global market size, regional shares, competitors with an e-merchandising software market share, detailed e-merchandising software market segments, market trends and opportunities, and any further data you may need to thrive in the e-merchandising software industry. This e-merchandising software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The e-merchandising software market size has grown rapidly in recent years. It will grow from $1.24 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The increase observed in the historic period can be credited to the surge in online shopping, the widespread adoption of mobile devices, the emergence of big data analytics, the advancement of AI and machine learning technologies, and the evolution of omnichannel retailing.
The e-merchandising software market size is expected to see rapid growth in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The anticipated growth in the forecast period can be attributed to the increased adoption of augmented reality (AR) for virtual try-on experiences, the integration of voice commerce and smart speaker devices, the expansion of social commerce and influencer marketing, the growth of personalized shopping experiences through customer data analytics, and the acceleration of blockchain technology for supply chain transparency and product authentication. Key trends expected in this period include an enhanced focus on sustainability and eco-friendly products, the rise of live commerce and interactive shopping experiences, the integration of 5G technology for faster and more immersive shopping experiences, the expansion of subscription-based and membership models in e-commerce, and increased emphasis on social proof and user-generated content in product recommendations.
The rise of e-commerce is anticipated to drive the growth of the e-merchandising software market. E-commerce, which involves the buying and selling of goods and services over the Internet, typically through online platforms and electronic transactions, is increasing due to the widespread adoption of online shopping and the growing demand for digital solutions in the retail sector. E-merchandising software enhances the user experience, increases sales, and enhances customer engagement in e-commerce by optimizing product displays, personalizing recommendations, and implementing dynamic pricing strategies. For example, in April 2023, according to the International Trade Administration, an agency of the US government, e-commerce sales in Canada amounted to approximately $2.34 billion in March 2022 and are projected to reach $40.3 billion by 2025. Thus, the growing prevalence of e-commerce is propelling the expansion of the e-merchandising software market.
Key players in the e-merchandising software market are concentrating on developing innovative technologies, such as the Digital Merchandising Suite, to gain a competitive advantage. A Digital Merchandising Suite is a comprehensive software solution designed to optimize the online retail experience by improving product presentation, promotion, and sales on e-commerce platforms. For instance, in February 2024, Monetate, a US-based software company, introduced Monetate for Merchandisers, an innovative solution aimed at empowering e-commerce and digital merchandising teams to create exceptional customer experiences that redefine product categories. It leverages AI alongside a comprehensive merchandising tool suite, enabling businesses to enhance product discoverability, increase catalog exposure, and reflect unique brand value throughout the shopper journey. The suite is supported by a robust AB and MVT testing framework, facilitating continuous optimization based on key performance indicators (KPIs) such as conversion rate (CVR) and average order value (AOV).
In January 2024, Elevate Software, a US-based software company, acquired Mi9 Retail for an undisclosed sum. Through this acquisition, Elevate Software aims to further impact the retail industry by leveraging Mi9's expertise in software solutions for merchandising, store operations, customer engagement, e-commerce, and business analytics. Mi9 Retail, based in the US, offers a comprehensive range of retail software, including order management, business analytics, merchandise management, point of sale, invoice matching, and e-commerce.
Major companies operating in the e-merchandising software market are Salesforce Inc., Bloomreach Inc., Algolia Inc., Episerver AB, Dynamic Yield Ltd., Bluecore Inc., Kibo Commerce Inc., Voyado, Elastic Path Software Inc., Unbxd Inc., Clerk.io ApS, Nosto Oy, Zoovu GmbH, Searchspring Inc., RichRelevance Inc., Reflektion Inc., SymphonyAI LLC, GroupBy Inc., SLI Systems Inc., PredictSpring Inc., PureClarity Ltd., Celebros Ltd., Smart Merchandiser LLC, Vue.ai Inc., Tagalys Inc.
North America was the largest region in the e-merchandising software market in 2023. The regions covered in the e-merchandising software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the e-merchandising software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The e-merchandising software market consists of revenues earned by entities by providing services such as product management, visual merchandising, analytics and reporting, and search and navigation optimization. The market value includes the value of related goods sold by the service provider or included within the service offering. The e-merchandising market also includes sales of dynamic pricing tools and visual merchandising platforms. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
E-Merchandising Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on e-merchandising software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for e-merchandising software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The e-merchandising software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.