DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com has added the "Retail Sourcing Market: Global Industry Trends, Shares, Scale, Growth, Opportunities and Forecasts 2021-2026" report to ResearchAndMarkets.com's products.

The global retail sourcing market has shown strong growth from 2015 to 2020. Looking ahead, publishers expect the global retail sourcing market to grow at a compound annual growth rate of approximately 12% during the forecast period (2021-2026).

Retail procurement refers to the services used by organizations to evaluate and attract suppliers to obtain goods and services. It involves processes such as insourcing, outsourcing, and global and strategic procurement through automation, mobile and cloud technologies. Retail procurement solutions also facilitate supplier and contract management and provide services such as purchase-to-pay and expenditure analysis. They are commonly used by small, medium, and large organizations for implementation, training, and consulting to optimize purchasing activities, increase customer retention, and enhance the overall consumer experience.

The remarkable growth of the global retail industry is one of the key factors for creating a positive outlook for the market. Retail procurement and procurement solutions help organizations automate expenditure management activities and improve the efficiency of the purchase-to-pay process. In addition, the increasing demand for increased visibility in tracking relevant data, centralizing the procurement process, and improving collaboration between retailers and suppliers has provided impetus for market growth.

In addition, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), artificial intelligence (AI), cloud technology, and big data solutions, are other factors that promote growth. The adoption of these technologies enables companies to track and purchase goods in a timely and efficient manner, maximize profits, and track future business transactions and supplier performance. Other factors, including increased consumer spending power and increased automation of purchasing activities, are expected to drive market growth.

Key questions answered in this report:

5 Global Retail Sourcing Market

9 Market segmentation by end use

For more information about this report, please visit https://www.researchandmarkets.com/r/i2ztil

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours +353-1-416- 8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours +353-1-416- 8900