Retail Sourcing and Procurement Market 2021-2026: Industry Trends, Size, Share, Growth, Opportunity and Forecast

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According to the latest report by IMARC Group, titled “Retail Sourcing and Procurement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global retail sourcing and procurement market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 12% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Retail sourcing and procurement represents the services utilized by organizations to evaluate and engage with suppliers for acquiring the required goods and services. It involves various processes, such as insourcing, outsourcing, and strategic sourcing via automated, mobile, and cloud-based technologies. Retail sourcing and procurement solutions help facilitate supplier and contract management and offer several other services, including procure-to-pay and spend analysis. As a result, they are extensively used by small, medium, and large-sized organizations for implementation, training, and consulting processes to optimize sourcing activities, guarantee customer retention, enhance the overall consumer experience, etc.

The expanding retail industry across the globe is one of the key factors driving the retail sourcing and procurement market. Besides this, the escalating need among organizations to improve the efficiency of procure-to-pay processes and to digitize spend management activities is further catalyzing the market growth. Moreover, the increasing requirement for enhanced visibility in tracking-related data management, centralized procurement processes, and seamless collaboration between suppliers and retailers is also augmenting the global market. In addition to this, the rising integration of connected devices with IoT, AI, Big Data, and other advanced technological solutions to help enterprises maximize profits and trace and procure goods promptly is acting as another significant growth-inducing factor. Apart from this, the inflating demand for automation in procurement activities is projected to fuel the retail sourcing and procurement market.

Retail Sourcing and Procurement Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global retail sourcing and procurement market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Basware Corporation
  • Blue Yonder Group Inc. (Panasonic Corp.)
  • Epicor Software Corporation
  • International Business Machines Corporation
  • Infor Inc. (Koch Industries Inc.)
  • Ivalua Inc
  • Kinaxis
  • Oracle Corporation
  • Proactis Holdings Plc
  • SAP SE
  • JAGGAER Inc.
  • Zycus Inc.

Key Market Segmentation:

The report has segmented the global retail sourcing and procurement market on the basis of solution, service, deployment, end use and region.

Breakup by Solution:

  • Strategic Sourcing
  • Supplier Management
  • Contract Management
  • Procure-to-pay
  • Spend Analysis

Breakup by Service:

  • Implementation
  • Consulting
  • Training and Support

Breakup by Deployment:

  • On-premise
  • Hybrid
  • Cloud

Breakup by End Use:

  • Small and Medium Enterprise (SME)
  • Large Enterprise

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/retail-sourcing-procurement-market

Key highlights of the report:            

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Industry Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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