The South & Central America trade promotion management software market is expected to grow from US$ 27.97 million in 2022 to US$ 45.52 million by 2030. It is estimated to record a CAGR of 6.3% 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.
Such massive sales by grocery retail indicates that the consumer-packaged goods manufacturers can manage complex and multi-layered go-to-market models consisting of direct sales & distributor management while managing their promoting strategies. Thus. rise in retail sales is one of the major contributors to trade promotion management market in the region. The government of Brazil offers one of the largest universal healthcare systems, further providing free services to more than 200 million people.
The country's pharmaceutical market is the largest in South America. Additionally, the country's healthcare funding is backed by favourable government initiatives. Such massive growth in the country's healthcare sector would help healthcare companies use advanced promotional tools to manage trade promotion activities of their respective healthcare products.
Use of Advanced Analytics for Trade Promotion Management Fuels South & Central 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.
South & Central America Trade Promotion Management Software Market Overview
The trade promotion management software market in South America is segmented into Brazil and Argentina, and Rest of South & Central America. Due to many economic challenges in the region, government enterprises, businesses, and consumers in the region are keen to implement and incorporate new technologies. The consumer goods industry is a prominent end user of trade promotion management software. A few of the major consumer packaged goods companies in South America witness fragmented trade in grocery retail, holding ~30-70% of total sales.Such massive sales by grocery retail indicates that the consumer-packaged goods manufacturers can manage complex and multi-layered go-to-market models consisting of direct sales & distributor management while managing their promoting strategies. Thus. rise in retail sales is one of the major contributors to trade promotion management market in the region. The government of Brazil offers one of the largest universal healthcare systems, further providing free services to more than 200 million people.
The country's pharmaceutical market is the largest in South America. Additionally, the country's healthcare funding is backed by favourable government initiatives. Such massive growth in the country's healthcare sector would help healthcare companies use advanced promotional tools to manage trade promotion activities of their respective healthcare products.
South & Central America Trade Promotion Management Software Market Segmentation
The South & Central America trade promotion management software market is segmented into component, deployment type, application, Industry vertical, and country.- Based on component, the South & Central America trade promotion management software market is bifurcated into solution and services. The solution segment held a larger share of the South & Central America trade promotion management software market in 2022.
- In terms of deployment type, the South & Central America trade promotion management software market is bifurcated into cloud and on-premise. The cloud segment held a larger share of the South & Central America trade promotion management software market in 2022.
- Based on application, the South & Central America trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the South & Central America trade promotion management software market in 2022.
- In terms of industry vertical, the South & Central 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 South & Central America trade promotion management software market in 2022.
- Based on country, the South & Central America trade promotion management software market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Brazil dominated the South & Central America trade promotion management software market in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. South & Central America Trade Promotion Management Software Market Landscape
5. South & Central America Trade Promotion Management Software Market - Key Industry Dynamics
6. Trade Promotion Management Software Market - South & Central America Market Analysis
7. South & Central America Trade Promotion Management Software Market Analysis - Component
8. South & Central America Trade Promotion Management Software Market Analysis - Deployment Type
9. South & Central America Trade Promotion Management Software Market Analysis - Application
10. South & Central America Trade Promotion Management Software Market Analysis - Industry Vertical
11. South & Central America Trade Promotion Management Software Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Wipro Ltd
- TELUS
- o9 Solutions, Inc.
- Oracle Corp
- SAP SE
- Aforza Inc
