Research Methodology – Retail Analytics Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Retail Analytics Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Retail Analytics Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- Demand trends: Understanding current demand trends can be helpful in projecting future market size.
- Competitor performance: The market share and performance of key competitors play an important role in determining market size.
- Consumer behaviour: Information about customer preferences, buying patterns, and loyalty can influence market size estimates.
- Market dynamics: Changes in the market like new entrants, mergers and acquisitions, changes in regulations, etc., may impact market size.
- Technological advancements: The spread of new retail technologies can impact market size.
- Economic indicators: Factors like GDP, disposable income, retail consumption, etc., can also impact the retail analytics market size.
Key Market Indicators
- Sales volume and value: This indicates the quantity of retail analytics services sold and their worth.
- Market concentration ratio: This provides information about the distribution of market share.
- Growth rates: The percentage change in retail analytics market size over a given time period.
- Customer churn rate: The percentage of retail consumers who end relations with a retail service during a given period.
- Average revenue per user (ARPU): This metric shows how much revenue is generated per user.
- Economic factors: Indicators like rates of inflation, unemployment, the consumer price index, etc., can influence the retail market.
Growth Trends
- Rising use of AI and Machine Learning in retail analytics: These technologies are becoming increasingly popular and are driving growth in the market.
- Increasing use of predictive analytics in retail: Many retailers are turning to predictive analytics to better forecast demand and optimize their supply chains.
- Growth in e-commerce: The rise in online shopping has caused a surge in demand for retail analytics.
- Need for personalized experience: With consumers expecting personalized experiences, there's an increasing need for retailers to analyze their behavior and preferences.
- Increase in mobile commerce: With more consumers shopping on their phones, mobile commerce is a growing market segment.
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Retail Analytics Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Retail Analytics Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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