United States Retail Sourcing and Procurement Market was valued at USD 145 Billion in 2022 and is projected to reach USD 200 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The US Retail Sourcing and Procurement Market is a dynamic sector, driven by the growing need for businesses to optimize their supply chains and acquire high-quality products at competitive prices. Retail sourcing and procurement play a crucial role in ensuring that retailers meet consumer demands while maintaining cost-efficiency and sustainability. The retail industry, with its complex web of suppliers, manufacturers, and distributors, requires a systematic approach to sourcing and procurement, allowing businesses to stay ahead of their competition.
As consumer expectations evolve, retailers are under increasing pressure to enhance the quality of products and services while keeping costs under control. Retail sourcing involves the identification and selection of suppliers who can provide the best quality at the most competitive price. Procurement, on the other hand, focuses on acquiring these goods or services efficiently and cost-effectively. Together, they form the backbone of the retail industry, ensuring that the right products reach the market at the right time.
The requirements for sourcing and procurement vary depending on the size, scale, and scope of the retail business. Small retailers may focus on local or regional suppliers to keep logistics simple, whereas larger retailers often deal with international suppliers to meet the demands of a global market. Advanced data analytics and technology, including AI and machine learning, are increasingly being leveraged to streamline procurement processes, manage supplier relationships, and predict market trends.
The US Retail Sourcing and Procurement Market is increasingly influenced by trends like e-commerce, sustainability, and automation. E-commerce has changed how retailers approach their supply chains, with many adopting just-in-time inventory systems to meet customer expectations for fast delivery. Sustainability has also become a major consideration in sourcing, with consumers placing a higher value on ethically sourced products. Retailers are now more focused than ever on ensuring their procurement practices align with environmental and social governance standards.
Industries across the retail spectrum—from apparel to electronics—are continuously refining their sourcing and procurement strategies. The complexities of global trade, shifting consumer behavior, and technological advances have made it essential for businesses to stay agile and adaptive in this ever-evolving marketplace. Retail sourcing and procurement are no longer just operational functions but strategic pillars that can make or break a business's success.
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Epicor Software Corporation
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GT Nexus
IBM Corporation
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JDA Software Group
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Retail Sourcing and Procurement Market
Apparel and Footwear
Electronics and Appliances
Home and Garden
Beauty and Personal Care
Food and Beverages
Direct Sourcing
Indirect Sourcing
Online Sourcing Platforms
Wholesale Suppliers
Local Producers and Farmers
Brick-and-Mortar Retailers
E-commerce Retailers
Omni-channel Retailers
Discount Retailers
Luxury Retailers
Small and Medium Enterprises (SMEs)
Large Enterprises
Franchise Owners
Independent Retailers
Corporates and Chains
Price-Sensitive Buyers
Quality-Focused Buyers
Brand-Loyal Buyers
Seasonal Buyers
Impulse Buyers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Retail Sourcing and Procurement Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Retail Sourcing and Procurement Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Retail Sourcing and Procurement Market, By Type
6. US Retail Sourcing and Procurement Market, By Application
7. US Retail Sourcing and Procurement Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Retail Sourcing and Procurement Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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