The growing adoption of customer communication management solutions in the retail industry further propels the growth of the market during the forecast period. Increasing the organized retail and e-commerce industry is one of the major factors which is contributing to the market. The retail customer experience software platform is used for various applications including visitors’ interactions, dispute resolutions, browsers level experience, fraud investigations and so on.
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Apart from this, the software offers features including survey/poll management, feedback management, customer analysis, sentiment analysis, text analysis and so on. Retail chains, cosmetic & apparel brands, furniture, books are included in the segment. Walmart is the largest retailer globally which is handling around 265 million customers each week and has more than 11,200 stored in 27 countries.
The e-commerce market is fueling the growth of the market. The e-commerce market is growing with double-digit growth in most of the major economies such as China, the US, India, Germany and so on and is expected to continue the trend as the market share to total retail is still at a nascent stage. With the increase in e-commerce activity, there will be significant demand to get customer insights, analyze customer behavior, increase personalization, easy access to information related to the product, to incorporate customer behavior and feedback to the strategy. All of these factors in culmination are expected to generate significant demand for customer management tools to the retail companies in the near future.
Manufacturing is expected to have a significant share in the customer communication management market. Companies offer customer experience solutions for industrial manufacturing, automotive, and high technology. In Automotive, the companies offer solutions for OEMs and suppliers. The solutions are offered to enable smart, data-driven business decisions for various applications including manufacturing, marketing, supply chain, including others. The other manufacturing vertical includes durable goods manufacturing, heavy equipment manufacturing, industrial products, and components. As the consumer electronics market has been growing significantly in the last decades, the companies offer specially designed solutions for consumer electronics, semiconductors, and other complex equipment. Companies such as Oracle, Adobe Inc., and others are some of the major companies contributing to market growth.
Various companies are adopting new growth strategies and innovating new solutions such as omnichannel solutions for better customer communication management. For instance, Retail Xstore Point-of-Service offered by Oracle delivers a comprehensive set of customer and associate experiences that meet the expectations of today’s modern retailers. It is pre-integrated with several cloud services, including Oracle Retail Order Management, Oracle Retail XBRi Loss Prevention and Oracle Commerce Cloud offerings, and Oracle Retail Customer Engagement that enables end-to-end omnichannel retailing solutions.
Additionally, it also includes mobility enhancements, RFID integration, supporting customer experiences, and easier workflow, among others. Moreover, Omnichannel Customer Experience Solutions offered by Genesys named Genesys Omnichannel Customer Experience Platform that offers flexible and scalable deployment models via the cloud, on-premises deployment model.
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Customer Communication Management Market Segmentation
By Deployment
· On-Premises
· Cloud-based
By Industry
· Telecom & IT
· Retail
· Manufacturing
· Healthcare
· BFSI
· Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
