CATEGORY
In-store Merchandisers
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In-store Merchandisers market report transcript
In-store Merchandisers Global Market Outlook
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The global In-store merchandising market was valued at $5 billion in 2021, and it is growing at approx. 5 percent year-on-year. The growth will be driven by the increase in adoption of modern retail channels in retail market and premium brand’s investment in physical retail
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Most of the growth in demand will be from the emerging markets in Asia and LATAM, in addition to the United States (US), Oceania and the Middle East
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Major buyers of the services are Retailers, CPG, Packaged Food, Beverages & Tobacco, Consumer Electronics followed by Pharma Retail
Impact of COVID-19 on In-store Merchandisers Industry
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Retail market is affected by the pandemic; hence the category had a huge impact in 2020 and 2021. However, retail market is gaining back to normalcy.
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In-store Merchandising is a dependent category to Retail business and all the macro-economic factors affecting the retail business directly impacts the category
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Major CPG and Packaged Food brands begin to revisit their procurement strategy on Retail merchandising, as the business is getting back to normal
Global In-store Merchandisers Market: Drivers and Constraints
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Increase in modern retail stores is a major driver for in-store merchandising category
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Growth of e-commerce channel is a major constraint
Industry Drivers
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Increase in the retail market evolution, moving towards modern retail in the growing markets like APAC, LATAM and Eastern Europe
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Increase in the focus of physical retail by premium retail brands by investing in in-store merchandising
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Increase in the competitiveness in the retail market, which the brands use visual merchandising as an aid to increase shop sell-outs
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Expansion of merchandising in major markets like China, India and Southeast Asia
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Sectors like consumer electronics, pharma retail focusing on retail merchandising like the well-established sectors like CPG and FMCG.
Constraints
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Increase in the growth of e-commerce and consumers wish to use online platform for shopping is a major constraint to the category
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In certain markets like India, Africa and in certain countries of LATAM and Southeast Asia, the retail model still doesn’t suit visual merchandising as an effect of the store size