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Analytics To Anticipate Future Demand Of Customers


The use of analytics in the wholesale trade market enhances efficiency by anticipating future demand of the customer. Predictive analytics uses the past data to predict the future events. Some of the applications where wholesale trade companies use predictive analytics are to project customer profitability, model business scenarios and improve marketing campaigns. For instance, HD Smith, a pharmaceutical wholesale distributor, implemented analytics to streamline their operations, manage their inventory and perform profitability analysis

WHOLESALE MARKET TO GROW TO $10.3 TRILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY

The Business Research Company expects the global wholesale market to grow from $8.6 trillion in 2016 to $10.3 trillion in 2020 at a compound annual growth rate (CAGR) of 4.8%. Western Europe was the largest region in the wholesale market in 2016, accounting for $2175 billion or 25.4% of the market. This was mainly because a large number of wholesale establishments based in the region expanded globally and innovated their businesses models and key attributes. Germany was the major contributor of this market share.

Purchase the report at http://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/wholesale-market-global-briefing-2017/

The chart below shows the year-on-year growth of the global wholesale market during 2016 - 2020.

According to The Business Research Company’s FMCG Consultant, Girish Kavali, technology implementation in the wholesale industry increases the efficiency and streamlines to operations. Digitization in wholesale trade market enhances the customer experience by efficiently engaging with them through seamless connectivity. Digitization allows the wholesale companies to automate their sales order process and create an omni-channel strategy that is interacting with customers on all sales channels and giving customers with multiple purchase options. Wasco, a leading wholesaler of central heating and plumbing products is using a solution which manages and publishes product information across all channels with the aim of creating a unique omni-channel customer experience.

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McKesson Corporation was the largest competitor in the wholesale trade market in 2016 with net revenues of $190 billion for the financial year 2016. McKesson's strategy is to be aggressive on healthcare technology. It is working on new technologies to address awareness, launch, sales, adherence and distribution goals at all stages of the product life cycle.

The wholesale trade market comprises establishments in wholesaling merchandise and rendering services after the sale of merchandise. Wholesale trade comprises purchasing, storing and selling the goods to retailers, professional authorities or to other wholesalers.

The industry is categorized into the following segments –

  • Durable Goods Merchant Wholesalers

  • Non-Durable Goods Merchant Wholesalers

  • Wholesale Agents and Brokers and Electronic Markets

Wholesale Market Global Briefing 2017 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.

About The Business Research Company

Visit TheBusinessResearchCompany.com, mail info@tbrc.info or call +447443439350 or +918897263534 or +919160996838 for more information on this and many other titles.

The Business Research Company is a market research and intelligence company, which excels in company, market and consumer research.

It has research professionals at its offices in the UK, India and the US as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, chemicals and technology.

The Business Research Company's management has more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world's largest organizations.