Omnichannel Retail Commerce Platform Global Market Report 2024

The omnichannel retail commerce platform market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.57 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth observed during the historic period can be attributed to several factors, including consumer demand for convenience, the rise of mobile commerce, the need for real-time inventory visibility, the growth of click-and-collect services, and an emphasis on customer experience.

The omnichannel retail commerce platform market size is expected to see rapid growth in the next few years. It will grow to $11.24 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The anticipated growth in the forecast period can be attributed to several factors, including the growth of omnichannel fulfillment options, the expansion of voice commerce, emphasis on sustainability, focus on contactless payments, and demand for omnichannel personalization. Major trends expected in the forecast period include in-store digital experiences, omnichannel marketing automation, localization and hyper-personalization, progressive web apps, and subscription commerce.

The increasing sales in e-commerce are anticipated to drive the expansion of the omnichannel retail commerce platform market in the foreseeable future. E-commerce, or electronic commerce, involves the buying and selling of goods and services over the internet or other electronic networks, encompassing various transactions such as online retail sales and auctions. It is favored by consumers for its convenience, accessibility, wide product selection, time-saving nature, and efficiency. Omnichannel retail commerce platforms leverage e-commerce to create a seamless and integrated shopping experience for customers across different channels, providing retailers with the necessary infrastructure and capabilities to engage with customers, boost sales, and deliver efficiently. For example, as reported by the United States Census Bureau, total e-commerce sales reached $1.11 trillion in 2023, marking a 7.6% increase from 2022. Consequently, the rising e-commerce sales are fueling the growth of the omnichannel retail commerce platform market.

Key players in the omnichannel retail commerce platform market are concentrating on developing innovative platforms, such as Tira, an omnichannel beauty retail platform, to enhance their competitiveness in the market and strengthen their market position. These platforms encompass a holistic approach that seamlessly integrates various channels, devices, and platforms to offer customers a unified shopping experience, particularly in the beauty industry. For instance, Reliance Retail, an India-based retail company, launched Tira, an omnichannel beauty retail platform, in April 2023. Tira features a curated selection of global and domestic beauty brands, serving as a comprehensive destination for beauty enthusiasts. The platform is user-friendly, with an intuitive interface showcasing shoppable videos, blogs, tutorials, trend-setting tips, personalized recommendations, and a virtual try-on feature for color cosmetics.

In March 2023, Criteo S.A., a France-based advertising company, acquired Brandcrush to bolster its presence in the omnichannel retail media landscape and accelerate offline retail media solutions. Brandcrush, an Australia-based omnichannel retail media technology company, offers a platform for buying and selling omnichannel retail media, including offline media channels.

Major companies operating in the omnichannel retail commerce platform market are Google LLC, Microsoft Corporation, HCL Technologies Limited, Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, SAP SE, NVIDIA Corporation, Salesforce Inc., Toshiba Corporation, Infosys Limited, Baidu Inc., Block Inc., NCR Corporation, Shopify Inc., GoDaddy Inc., Diebold Nixdorf AG, Sensient Technologies, Wix.com Ltd., Lightspeed POS Inc., BigCommerce Pty. Ltd., ViSenze, LemonStand Corp.

North America was the largest region in the omnichannel retail commerce platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the omnichannel retail commerce platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the omnichannel retail commerce platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An omnichannel retail commerce platform is a comprehensive, integrated technological solution designed to facilitate seamless and cohesive retail experiences across multiple channels and touchpoints. This platform integrates and synchronizes retail channels, enabling consistent communication, transactions, and customer interactions.

The primary types of solutions within an omnichannel retail commerce platform include e-commerce, order management, point of sale (POS), customer relationship management (CRM), warehouse management, retail order broker cloud service, and others. E-commerce involves the buying and selling of goods or services over the internet, offering different deployments such as software as a service (SaaS) and on-premises. It is utilized by various organizations, including small and medium-sized enterprises (SMEs) and large enterprises, with end users ranging from consumer electronics to apparel and footwear, fast-moving consumer goods (FMCG), and others.

The omnichannel retail commerce platform market research report is one of a series of new reports that provides omnichannel retail commerce platform market statistics, including omnichannel retail commerce platform industry global market size, regional shares, competitors with omnichannel retail commerce platform market share, detailed omnichannel retail commerce platform market segments, market trends and opportunities, and any further data you may need to thrive in the omnichannel retail commerce platform industry. This omnichannel retail commerce platform market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The omnichannel retail commerce platform market includes revenues earned by entities by providing services such as inventory management, order management, return and exchange management, and customer relationship management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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