Europe Retail Execution Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Enterprise Size and Application

The retail execution software market in Europe is expected to grow from US$ 77.48 million in 2019 to US$ 56.69 million by 2027; it is estimated to grow at a CAGR of 5.7% from 2020 to 2027. Payment gateways are broadly used for cashless transactions. They transfer the data related to a transaction between the bank and the billing portal. Payment gateway systems permit online retail platforms to collect cash via a bank chosen by the consumer without compromising sensitive data. The retail & e-commerce industry provides a huge platform for shopping. It is increasing at an unprecedented rate across Europe. Retail and e-commerce platforms also help various businesses to reach their customers easily; hence, necessary exposure to business is achieved. The retail execution software is used for planning, managing, and monitoring the in-store activities in the consumer packaged goods (CPG) industry - such as retail operations, field sales, trade promotion management, field service management, mobile forms automation, and employee engagement. This software facilitates to enhance the collaboration between CPG companies and retailers to increase profits and optimize in-store sales. This factor is scaling up the retail execution software market size year-on-year. Additionally, integration of payment gateways with retail execution software is among the other factors expected to fuel the demand for retail execution software in Europe.

Based on application, the retail operations segment led the Europe retail execution software market in 2019. Retail operations involve the management of individuals, supply chain, store layout, cash operations, physical inventory, management of master data, and promotions and pricing. Retail execution software equips brick-and-mortar retail stores with tools to take advantage of their current information and leverage it in a way that benefits their business. This information is often obtained from POS systems, retail management systems, and other retail use software daily. This information is taken and analyzed by the retail operations platform, providing managers and business owners with usable insights. Pricing, inventory management, or store layout can be the focus of these insights. The objective is to optimize a store user data that the store is already collecting for maximum sales. Retail operations may be integrated to manage retail POS software, retail management systems, or retail task management software.

Spain, Italy, Germany, the UK, and France are some of the worst affected member states in the European region due to the COVID-19 outbreak. Businesses in the region are facing severe economic difficulties as they had to either suspend their operations or reduce their activities in a substantial manner. Owing to business shutdowns, travel bans, and supply chain disruptions, the region faced an economic slowdown in 2020, which is most likely continue in 2021 as well. Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus among their citizens. European countries represent a major market for retail execution software adoption, owing to the rising e-commerce industry. In Germany, several fashion retailers, shoe and sports shops, perfumeries, retail, and electronics stores are affected due to this pandemic; online retailers also suffered. All these factors are expected to have a direct impact on retail execution software market growth in European countries. The markets in Italy, Spain, Germany, the UK, and France are anticipated to see the adverse impact in 2020 and likely in 2021 also.

The overall Europe retail execution software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe retail execution software market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe retail execution software market. Bizom (Mobisy Technologies Private Limited), EdgeCG (StayinFront, Inc.), Intelligence Retail, Trax Technology Solutions Pte Ltd., Valomnia, WINIT, and XTEL (Kantar Group) are among the key players operating in the Europe retail execution software market.