How Is The Global E-Merchandising Software Market Defined?
E-merchandising software refers to applications or platforms used by online retailers to optimize their digital storefronts and enhance the online shopping experience for customers. This software typically includes various tools and features to improve product presentation, navigation, and overall sales performance.
E-Merchandising Software Global Market Report 2024 provides data on the global e-merchandising software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The E-Merchandising Software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global E-Merchandising Software Market Size And Annual Growth Rates?
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 growth in the historic period can be attributed to the rise of online shopping, the proliferation 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 growth in the forecast period can be attributed to increased adoption of augmented reality (AR) for virtual try-on experiences, integration of voice commerce and smart speaker devices, growth of social commerce and influencer marketing, expansion of personalized shopping experiences through customer data analytics, and acceleration of blockchain technology for supply chain transparency and product authentication. Major trends in the forecast period include enhanced focus on sustainability and eco-friendly products, the rise of live commerce and interactive shopping experiences, integration of 5G technology for faster and more immersive shopping experiences, expansion of subscription-based and membership models in e-commerce, and increased emphasis on social proof and user-generated content in product recommendations.
Which Key Drivers Are Propelling The E-Merchandising Software Market's Growth?
The expansion of e-commerce is set to drive the growth of the e-merchandising software market. E-commerce, driven by increasing online shopping and digital retail solutions, continues to grow rapidly. E-merchandising software enhances user experience and boosts sales by optimizing product displays, personalizing recommendations, and implementing dynamic pricing strategies. For example, according to the International Trade Administration in April 2023, e-commerce sales in Canada are expected to soar, reaching $40.3 billion by 2025 from $2.34 billion in March 2022. This growth trajectory highlights how e-commerce's widespread adoption is fueling the demand for e-merchandising software, driving market expansion and innovation in digital retail strategies.
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What Are The Key Segments Within The Global E-Merchandising Software Market?
The e-merchandising software market covered in this report is segmented –
1) By Type: Cloud Based, On-Premises
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Pricing Model: Subscription, One Time License
4) By Size Of Enterprise: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
5) By Application: Apparel And Footwear, Groceries And Food, Home And Furniture, Electronics And Jewellery, Beauty And Personal Care, Other Applications
How Are New Trends Impacting The Size Of The E-Merchandising Software Market?
Major companies in the e-merchandising software market are innovating with technologies like Digital Merchandising Suites to gain a competitive edge. This comprehensive software solution is designed to enhance the online retail experience by optimizing product presentation, promotion, and sales on e-commerce platforms. For instance, in February 2024, Monetate, a US-based software company, introduced Monetate for Merchandisers. This groundbreaking solution empowers e-commerce and digital merchandising teams to create exceptional customer experiences by integrating AI with a complete suite of merchandising tools. It enhances product discoverability, increases catalog visibility, and reflects unique brand values throughout the shopper journey. The suite features a robust AB and MVT testing framework, allowing for continuous optimization based on performance metrics like conversion rate (CVR) and average order value (AOV).
Which Region Drives The Highest Growth In The E-Merchandising Software Market?
North America was the largest region in the e-merchandising software market in 2023. The regions covered in the e-merchandising software market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
