New York, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Trade Promotion Management Software Market Size, Share, Trends, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Type (Cloud and On-Premise), Application (Small & Medium-Size Enterprises and Large Enterprises), and End-User (Retail and Consumer Goods, IT Services, Pharmaceutical, Manufacturing, and Others)”; The global trade promotion management software market growth is fuelled by integration of advanced analytics for fixing trade promotions and investments in trade promotion management strategies to boost sales.
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Global Trade Promotion Management Software Market – Report Scope:
| Market Size Value in | USD 1.04 Billion in 2021 |
| Market Size Value by | USD 2.15 Billion by 2028 |
| Growth rate | CAGR of 10.9% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 162 |
| No. of Tables | 83 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Deployment Type, Application, and End-User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Trade Promotion Management Software Market: Industry Developments and Competitive Landscape
SAP SE, Oracle Corporation, Exceedra (AFS Technologies Inc.), Aera, and CPGTOOLBOX Inc. The above listing of key players is derived by considering multiple factors such as overall revenue, current IR spectroscopy solution portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global trade promotion management software market ecosystem, such as Accenture, Cornerstone, Deloitte, o9 Solutions, Inc., and Oracle Corporation. A few of the important market initiatives and product developments from the industry are mentioned below:
2021: Companies all across the world will benefit from increased enterprise agility and resiliency as a result of this. Kearney's Sense and Pivot supply chain management system will be incorporated into Aera Technology's cloud-based Cognitive Operating SystemTM as part of the agreement, enhancing the speed and agility of supply chain decision-making.
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2021: Edenhouse, a UK-based independent SAP partner, has been acquired by Accenture. The acquisition will further enhance Accenture's ability to support customers in their digital transformation journey.
2020: Oracle Corporation had announced the general availability of oracle cloud infrastructure operations insights. These operation insights enable business executives, DevOps, database, and IT administrators to make data driven database resource and performance management decisions.
In trade promotion activities, both wholesalers/retailers are given special price discounts subsidize, gifts, free display racks or stands, and other incentives. Use of trade promotion management software would help the retailers/end user industries to acquire attention of customers. Trade promotion management is a process of planning and accounting the funding of activities & events at retail level such as budgeting, brand management, demand planning, account management, retail execution, integrated sales and marketing, and back-end processes.
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Trade promotion acts as a marketing tool and therefore is a part of revenue management, which indicates marketing campaigns for retailers/wholesalers. Use of best-in-class trade promotions strategies by consumer goods companies have a potential to give five times better results than earlier trade promotions methods. These companies across the world invest nearly 20–23% of their top-line revenue in trade promotions annually that is creating a need to evaluate whether the trade spent meets an objective of maximizing return on investment. In respect to expenditure, the consumer-packaged goods companies have increased their spending on trade promotion to handle diminishing customer loyalty and private labels growth. This factor propels demand for efficient trade promotion strategies and plays a positive role in creating development of software for managing trade promotions. Consumer goods manufacturers face pressing trade investment requests from their retail partners to drive an increase of both revenues and margins.
Moreover, fragmenting sales channels; dynamic consumer behavior; rising focus of retailers on private labels; changing retail formats by introducing new channels such as gas station forecourts, convenience formats, e-commerce; and arrival of small and fast-moving competitors are among the factors creating demand for efficient trade promotion management among large and well-established consumer goods companies to remain in the competitive market. The end-user companies executing trade promotion strategies and optimization consume less time and resources for collecting consumer data. The trade promotion management software also helps in using trade funds in an ideal way to have greater visibility to ROI. By using trade promotion strategies, both CPG manufacturers and retailers enhance ROI on their trade-promotion investments. Furthermore, increase in the adoption of trade promotion management would eventually boost the demand for software to manage all functions effectively during the forecast period.
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