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Global retail workforce management software market: 5.6% CAGR growth forecast between 2012-2016

Press Release   •   Aug 08, 2013 13:56 BST

The Global retail Workforce Management Software market to grow at a CAGR of 5.67 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased demand from Small and Medium-sized Enterprises. The Global Workforce Management Software market in the Retail industry has also been witnessing the emergence of cloud-based WFM solutions. However, the high cost of implementation could pose a challenge to the growth of this market.

One of the main trends witnessed in the Global Workforce Management Software market in the Retail industry is the cost reduction as a result of high competition. Competition among WFM players worldwide is increasing, which in turn is leading to an increase in price wars. This has forced many vendors to reduce the overall price of the product. Another reason for cost reduction is the availability of numerous local vendors that offer low-cost WFM solutions. This has forced WFM vendors to reduce the price as compared to their competitors with a view to capture the market. Moreover, vendors are decreasing prices to tap SMEs in the market.

One of the main factors driving the market is the increased investment from the retail industry in developing countries, which is due to the increase in the purchasing power of people in Eastern countries, compared to people in other regions. Further, both domestic and international products are being adopted in various developing courtiers.

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