The North America trade promotion management software market is expected to grow from US$ 481.82 million in 2022 to US$ 938.07 million by 2030. It is estimated to record a CAGR of 8.7% from 2022 to 2030.
Additionally, retailers are highly aware of the benefits provided by trade promotion management as they increase their operating margins by 60% by using efficient promotion strategies and analytics. With constant improvements, the adoption of trade promotion optimization is also rising. Moreover, the presence of companies offering analytics solutions to make trade promotion management efficient is making a positive contribution toward the market growth.
For instance, Neal Analytics is a provider of trade promotion optimization solutions that assist businesses in creating a sales baseline for determining in-around of sales and calculating historical promotion redemption rate, volume uplift, and ROI by utilizing sell-through data and cost factors. Thus, the use of advanced analytics for trade promotion management is anticipated to fuel the market growth in the coming years.
The region consists of well-established consumer goods companies such as Coca-Cola, Nestle, PepsiCo., Procter & Gamble, Philip Morris, L'Oréal, and Kraft Foods Inc. Due to the presence of such leading consumer goods companies, the expenditure on promotional activities is rising. To remain competitive in the consumer goods sector, these companies continuously invest in advertising and other promotional activities to boost brand image and stimulate sales. North America witnessed the footprints of companies offering trade promotion management solutions. For instance, Adesso, through its trade promotion management solutions, assists its customers in enhancing trade promotion management and effectiveness.
The solution is efficient for small, mid-size, and emerging consumer packaged goods manufacturers in North America. Therefore, the footprints of trade promotion management solution providers and the growth of the consumer goods sector in North America are projected to create the demand for trade promotion management software to manage trade promotion activities efficiently and effectively.
Benefits of Use of Advanced Analytics for Trade Promotion Management Fuel North America Trade Promotion Management Software Market
Technological advancements in data and analytics have restructured consumer goods and fast-moving consumer goods companies in recent years. Technological developments such as linking trade promotion to advanced analytics can help in making the future of trade promotions more efficient and effective. Consumer goods packaged companies are using advanced analytics while conducting trade promotion management activities. Through advanced analytics, consumer goods companies obtain much more granular information, generating insight related to shoppers and their consumer behaviours. By utilizing analytics, these companies can drive better returns on promotional investment and customizing investment to line up with overarching strategic goals.Additionally, retailers are highly aware of the benefits provided by trade promotion management as they increase their operating margins by 60% by using efficient promotion strategies and analytics. With constant improvements, the adoption of trade promotion optimization is also rising. Moreover, the presence of companies offering analytics solutions to make trade promotion management efficient is making a positive contribution toward the market growth.
For instance, Neal Analytics is a provider of trade promotion optimization solutions that assist businesses in creating a sales baseline for determining in-around of sales and calculating historical promotion redemption rate, volume uplift, and ROI by utilizing sell-through data and cost factors. Thus, the use of advanced analytics for trade promotion management is anticipated to fuel the market growth in the coming years.
North America Trade Promotion Management Software Market Overview
The US, Canada, and Mexico are major economies in North America. Various retail operators in the region are making substantial investments in advanced technological solutions to generate higher returns on investment (ROI). As consumers in the region, especially in the US, spend heavily on groceries, several retail start-ups are entering the North American market. Also, retailers and technology companies are collaborating to invest significantly in promotional activities to attract new buyers and retain existing ones. In North America, consumer goods companies are the major end users of trade promotion management solutions.The region consists of well-established consumer goods companies such as Coca-Cola, Nestle, PepsiCo., Procter & Gamble, Philip Morris, L'Oréal, and Kraft Foods Inc. Due to the presence of such leading consumer goods companies, the expenditure on promotional activities is rising. To remain competitive in the consumer goods sector, these companies continuously invest in advertising and other promotional activities to boost brand image and stimulate sales. North America witnessed the footprints of companies offering trade promotion management solutions. For instance, Adesso, through its trade promotion management solutions, assists its customers in enhancing trade promotion management and effectiveness.
The solution is efficient for small, mid-size, and emerging consumer packaged goods manufacturers in North America. Therefore, the footprints of trade promotion management solution providers and the growth of the consumer goods sector in North America are projected to create the demand for trade promotion management software to manage trade promotion activities efficiently and effectively.
North America Trade Promotion Management Software Market Segmentation
The North America trade promotion management software market is segmented into component, deployment type, application, Industry vertical, and country.- Based on component, the North America trade promotion management software market is bifurcated into solution and services. The solution segment held a larger share of the North America trade promotion management software market in 2022.
- In terms of deployment type, the North America trade promotion management software market is bifurcated into cloud and on-premise. The cloud segment held a larger share of the North America trade promotion management software market in 2022.
- Based on application, the North America trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the North America trade promotion management software market in 2022.
- In terms of industry vertical, the North America trade promotion management software market is segmented into retail & consumer goods, pharmaceutical, it and services, manufacturing, and others. The retail & consumer goods segment held the largest share of the North America trade promotion management software market in 2022.
- Based on country, the North America trade promotion management software market is segmented into the US, Canada, and Mexico. The US dominated the North America trade promotion management software market in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. North America Trade Promotion Management Software Market Landscape
5. North America Trade Promotion Management Software Market - Key Industry Dynamics
6. Trade Promotion Management Software Market - North America Market Analysis
7. North America Trade Promotion Management Software Market Analysis - Component
8. North America Trade Promotion Management Software Market Analysis - Deployment Type
9. North America Trade Promotion Management Software Market Analysis - Application
10. North America Trade Promotion Management Software Market Analysis - Industry Vertical
11. North America Trade Promotion Management Software Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Wipro Ltd
- PSignite Group Inc
- Aera Technology
- TELUS
- o9 Solutions, Inc.
- Oracle Corp
- SAP SE
- UpClear
- Anaplan Inc
- Aforza Inc
