Business-to-business (B2B) software applications called multichannel order management solutions (MOMs) are mostly made for online retailers and businesses. MOMs are capable of managing two primary problems. First, they combine orders from many sources to generate a comparable physical inventory. Second, as expenses vary, they disperse the new costs over all channels. Beyond those initial requirements, several of MOMs' systems serve as comprehensive commerce management solutions.
Europe Multichannel Order Management Market Driving Factors and Challenges
Drivers: The rise of e-commerce has drastically altered the way that brands and customers engage, necessitating a smooth omnichannel experience across all platforms. The technological foundation to meet these expectations is provided by multichannel order management systems, which integrate orders across channels and provide flexible fulfillment alternatives like as buy-online-pick-up-in-store (BOPIS). Furthermore, because of its enormous customer reach, digital media has been instrumental in revolutionizing the retail sector. Customers are now pickier about how and when they want to interact with brands. As a result of this trend, it is now possible for a product's marketing campaign and its inventory levels across various sales channels to coincide, giving customers the constant and ideal purchasing experience.
Challenges: One of the biggest challenges is the complexity of seamlessly combining many sales channels. Because of the proliferation of social media platforms, traditional brick-and-mortar stores, and online marketplaces, businesses are finding it challenging to synchronize inventory, orders, and consumer data across these diverse channels. The rapid pace of technological advancement and the requirement for constant upgrades and revisions to MOM systems make it challenging for enterprises to stay ahead of the curve. The intricacy is increased by the General Data Protection Regulation (GDPR) and data security concerns, especially considering how recently the EU implemented them.
Impact of COVID-19 on Europe Multichannel Order Management Market
The COVID-19 pandemic has a beneficial effect on the market. Due to supply chain problems brought on by the epidemic, offline purchasing decreased and online sales surged, which raised the need for multichannel order management solutions.
Europe Multichannel Order Management Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Salesforce.com, Inc., HCL Technologies Ltd. (HCL Enterprises), Zoho Corporation Pvt. Ltd., Square, Inc. (Stitch Labs, Inc.), Aptean, SalesWarp, Inc., IBM Corporation, SAP SE, Oracle Corporation and Etail Solutions LLC
Europe Multichannel Order Management Market Segmentation:
By Component: Based on the Component, Europe Multichannel Order Management Market is segmented as; Software (Without Services), Services.
By Deployment Type: Based on the Deployment Type, Europe Multichannel Order Management Market is segmented as; Cloud, On-premise.
By Enterprise Size: Based on the Enterprise Size, Europe Multichannel Order Management Market is segmented as; Large Enterprises, Small & Medium Enterprises.
By Vertical: Based on the Vertical, Europe Multichannel Order Management Market is segmented as; Retail, eCommerce, & Wholesale, Manufacturing, Healthcare & Life Sciences, Food & Beverages, Others.
By Region: This research also includes data for UK, France, Germany, Italy, Spain, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.