Retail And Wholesale Market Players Drive Efficiency By Adopting Big Data Analytics
June 23, 2022
The Business Research Company’s Retail And Wholesale Market 2022 - Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON , UK, June 23, 2022 /EINPresswire.com/ -- The number of retailers using big data analytics is growing as they have started realizing that they need data driven insights to in order to know their customer better and provide customized shopping experiences. According to the retail and wholesale market analysis, the Swarm app, for instance, enables brick and mortar stores to analyze footfall so that they can make better decisions and tailor customer experiences. There is also the Collect platform which gives merchants insight into the spending habits of their customers, and so allows them to send personalized rewards and offers. For instance, according to a survey conducted by JDA, a Software Group, out of the merchandising professionals surveyed, 40% preferred big data and predictive analytics as their top investment priority and 80% were successful in mining consumer data for targeting promotions and offers. Some of the major ecommerce stores using bid data analytics to drive efficiency are Walmart, ASOS and Jet.com.
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The global retail and wholesale market reached a value of nearly $69.87 trillion in 2020, having increased at a compound annual growth rate (CAGR) of 4.3% since 2015. The global retail and wholesale market size is expected to grow at a CAGR of 7.5% from 2020 to reach $100.38 trillion in 2025. The global retail and wholesale market size is expected to reach $137.25 trillion in 2030, at a CAGR of 6.5%.
Increasing demand for online shopping is expected to drive the retailer and wholesaler market in the forecast period. According to the retail and wholesale market overview, these wholesalers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the retailer and wholesaler market. Thus, going forward, growing e-commerce is expected to positively impact the retailer and wholesaler market.
Major players covered in the global retail and wholesale industry are Walmart Inc., Amazon.com, Inc., Costco Wholesale Corporation, CVS Health Corporation, Schwarz Group.
TBRC’s retail and wholesale market report is segmented by type into retail, wholesale, by ownership into retail chain/wholesale chain, independent retailer/independent wholesaler.
Retail And Wholesale Market 2022 – By Type (Retail, Wholesale), By Ownership (Retail Chain/Wholesale Chain, Independent Retailer/Independent Wholesalers), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides a retail and wholesale market overview, forecast retail and wholesale market size and growth for the whole market, retail and wholesale market segments, geographies, retail and wholesale market trends, retail and wholesale market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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