Product Code: ETC13354927 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Retail Sourcing Procurement Market was valued at USD 5.7 Billion in 2024 and is expected to reach USD 8.1 Billion by 2031, growing at a compound annual growth rate of 8.02% during the forecast period (2025-2031).
The Global Retail Sourcing Procurement Market encompasses the processes and strategies employed by retailers to source and procure goods and services efficiently and cost-effectively. This market involves activities such as vendor selection, negotiation, contract management, and supplier relationship management to ensure the supply chain operates smoothly and meets consumer demand. Key trends in this market include the increasing adoption of digital procurement technologies, the emphasis on sustainability and ethical sourcing practices, and the growing importance of strategic partnerships with suppliers. With the rise of e-commerce and global supply chains, retailers are facing challenges such as supply chain disruptions, fluctuating raw material prices, and changing consumer preferences. As a result, companies are focusing on enhancing their procurement capabilities to stay competitive in the dynamic retail industry.
The Global Retail Sourcing Procurement Market is experiencing a shift towards digitalization and automation to streamline sourcing processes and enhance supply chain efficiency. Key trends include the adoption of data analytics and AI-driven tools for improved decision-making, increased focus on sustainability and ethical sourcing practices, and the rise of e-commerce leading to a higher demand for omnichannel procurement solutions. Opportunities lie in leveraging technology to drive cost savings, reduce lead times, and enhance supplier collaboration. Additionally, the growing emphasis on transparency and traceability in supply chains presents avenues for retailers to differentiate themselves and build consumer trust. Overall, the market is ripe for innovation and collaboration between retailers and suppliers to meet evolving consumer expectations and navigate the complexities of the global retail landscape.
The Global Retail Sourcing Procurement Market faces various challenges such as increasing competition, rising raw material costs, supply chain disruptions, and evolving consumer preferences. Retailers need to constantly innovate and adapt to meet changing market demands while ensuring cost efficiency and sustainability throughout the sourcing process. Additionally, geopolitical issues, trade regulations, and labor conditions in sourcing countries can impact procurement strategies and supplier relationships. Maintaining transparency and visibility across the supply chain, managing supplier risks, and integrating technology for efficient sourcing operations are key challenges faced by retailers in the global market. Overall, navigating these complexities requires strategic planning, effective collaboration with suppliers, and leveraging data analytics to optimize sourcing decisions and drive competitive advantage.
The Global Retail Sourcing Procurement Market is primarily driven by the increasing demand for cost-effective sourcing solutions to optimize supply chain operations and enhance efficiency in the retail sector. Companies are focusing on streamlining their sourcing processes to secure quality products at competitive prices, driving the adoption of advanced procurement technologies and strategies. Additionally, the growing trend of outsourcing non-core activities such as procurement to third-party service providers is fueling market growth as retailers seek to reduce operational costs and improve overall business performance. Furthermore, the rising emphasis on sustainability and ethical sourcing practices is influencing retailers to partner with suppliers that comply with environmental and social standards, further propelling the market forward.
Government policies related to the Global Retail Sourcing Procurement Market focus on promoting fair trade practices, sustainability, and ethical sourcing. Many countries have implemented regulations to ensure that retailers adhere to labor standards, environmental regulations, and supply chain transparency. Additionally, trade agreements and tariffs can impact sourcing decisions and procurement strategies for retail companies operating on a global scale. Governments also play a role in fostering innovation and competitiveness within the retail industry through incentives and support programs. Overall, government policies in the Global Retail Sourcing Procurement Market aim to create a level playing field for businesses while encouraging responsible sourcing practices and supporting economic growth in the retail sector.
The Global Retail Sourcing Procurement Market is expected to witness steady growth in the coming years, driven by factors such as increasing globalization of supply chains, the rise of e-commerce, and the growing demand for sustainable and ethically sourced products. Retailers are increasingly looking to streamline their sourcing and procurement processes to improve efficiency, reduce costs, and enhance supplier relationships. Additionally, advancements in technology such as AI, data analytics, and blockchain are transforming the way sourcing and procurement are conducted in the retail industry. However, challenges such as supply chain disruptions, geopolitical uncertainties, and changing consumer preferences will continue to impact the market. Overall, the Global Retail Sourcing Procurement Market is poised for expansion as retailers adapt to the evolving landscape and focus on innovation to stay competitive.
In the Global Retail Sourcing Procurement Market, Asia has emerged as a key region due to its strong manufacturing capabilities and cost-effective labor. North America is focusing on sustainability and ethical sourcing practices, driving innovation in the industry. Europe is known for its strict regulations and emphasis on quality control in sourcing processes. The Middle East and Africa region is witnessing growth in retail sourcing procurement due to increasing consumer demand and improving infrastructure. Latin America is experiencing a shift towards more localized sourcing strategies to cater to diverse consumer preferences and reduce supply chain risks. Overall, each region in the global retail sourcing procurement market brings unique strengths and challenges, shaping the industry landscape.
Global Retail Sourcing Procurement Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Retail Sourcing Procurement Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Retail Sourcing Procurement Market Revenues & Volume, 2021 & 2031F |
3.3 Global Retail Sourcing Procurement Market - Industry Life Cycle |
3.4 Global Retail Sourcing Procurement Market - Porter's Five Forces |
3.5 Global Retail Sourcing Procurement Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Retail Sourcing Procurement Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Retail Sourcing Procurement Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.8 Global Retail Sourcing Procurement Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.9 Global Retail Sourcing Procurement Market Revenues & Volume Share, By Deployment Mode, 2021 & 2031F |
3.10 Global Retail Sourcing Procurement Market Revenues & Volume Share, By Service Type, 2021 & 2031F |
4 Global Retail Sourcing Procurement Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Retail Sourcing Procurement Market Trends |
6 Global Retail Sourcing Procurement Market, 2021 - 2031 |
6.1 Global Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Retail Sourcing Procurement Market, Revenues & Volume, By Direct Procurement, 2021 - 2031 |
6.1.3 Global Retail Sourcing Procurement Market, Revenues & Volume, By Indirect Procurement, 2021 - 2031 |
6.1.4 Global Retail Sourcing Procurement Market, Revenues & Volume, By Goods Procurement, 2021 - 2031 |
6.1.5 Global Retail Sourcing Procurement Market, Revenues & Volume, By Services Procurement, 2021 - 2031 |
6.2 Global Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Retail Sourcing Procurement Market, Revenues & Volume, By Software, 2021 - 2031 |
6.2.3 Global Retail Sourcing Procurement Market, Revenues & Volume, By Hardware, 2021 - 2031 |
6.2.4 Global Retail Sourcing Procurement Market, Revenues & Volume, By Services, 2021 - 2031 |
6.2.5 Global Retail Sourcing Procurement Market, Revenues & Volume, By Consulting, 2021 - 2031 |
6.3 Global Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Retail Sourcing Procurement Market, Revenues & Volume, By Retail Chains, 2021 - 2031 |
6.3.3 Global Retail Sourcing Procurement Market, Revenues & Volume, By E-commerce Platforms, 2021 - 2031 |
6.3.4 Global Retail Sourcing Procurement Market, Revenues & Volume, By Supermarkets, 2021 - 2031 |
6.3.5 Global Retail Sourcing Procurement Market, Revenues & Volume, By Specialty Stores, 2021 - 2031 |
6.4 Global Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Retail Sourcing Procurement Market, Revenues & Volume, By Cloud-Based, 2021 - 2031 |
6.4.3 Global Retail Sourcing Procurement Market, Revenues & Volume, By On-Premise, 2021 - 2031 |
6.4.4 Global Retail Sourcing Procurement Market, Revenues & Volume, By Hybrid, 2021 - 2031 |
6.4.5 Global Retail Sourcing Procurement Market, Revenues & Volume, By SaaS, 2021 - 2031 |
6.5 Global Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Retail Sourcing Procurement Market, Revenues & Volume, By Strategic Sourcing, 2021 - 2031 |
6.5.3 Global Retail Sourcing Procurement Market, Revenues & Volume, By Supplier Management, 2021 - 2031 |
6.5.4 Global Retail Sourcing Procurement Market, Revenues & Volume, By Spend Analytics, 2021 - 2031 |
6.5.5 Global Retail Sourcing Procurement Market, Revenues & Volume, By Risk & Compliance, 2021 - 2031 |
7 North America Retail Sourcing Procurement Market, Overview & Analysis |
7.1 North America Retail Sourcing Procurement Market Revenues & Volume, 2021 - 2031 |
7.2 North America Retail Sourcing Procurement Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
7.5 North America Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
7.6 North America Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
7.7 North America Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
8 Latin America (LATAM) Retail Sourcing Procurement Market, Overview & Analysis |
8.1 Latin America (LATAM) Retail Sourcing Procurement Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Retail Sourcing Procurement Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
8.5 Latin America (LATAM) Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
8.6 Latin America (LATAM) Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
8.7 Latin America (LATAM) Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
9 Asia Retail Sourcing Procurement Market, Overview & Analysis |
9.1 Asia Retail Sourcing Procurement Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Retail Sourcing Procurement Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
9.5 Asia Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
9.6 Asia Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
9.7 Asia Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
10 Africa Retail Sourcing Procurement Market, Overview & Analysis |
10.1 Africa Retail Sourcing Procurement Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Retail Sourcing Procurement Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
10.5 Africa Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
10.6 Africa Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
10.7 Africa Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
11 Europe Retail Sourcing Procurement Market, Overview & Analysis |
11.1 Europe Retail Sourcing Procurement Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Retail Sourcing Procurement Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
11.5 Europe Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
11.6 Europe Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
11.7 Europe Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
12 Middle East Retail Sourcing Procurement Market, Overview & Analysis |
12.1 Middle East Retail Sourcing Procurement Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Retail Sourcing Procurement Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Retail Sourcing Procurement Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Retail Sourcing Procurement Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Retail Sourcing Procurement Market, Revenues & Volume, By Component, 2021 - 2031 |
12.5 Middle East Retail Sourcing Procurement Market, Revenues & Volume, By End User, 2021 - 2031 |
12.6 Middle East Retail Sourcing Procurement Market, Revenues & Volume, By Deployment Mode, 2021 - 2031 |
12.7 Middle East Retail Sourcing Procurement Market, Revenues & Volume, By Service Type, 2021 - 2031 |
13 Global Retail Sourcing Procurement Market Key Performance Indicators |
14 Global Retail Sourcing Procurement Market - Export/Import By Countries Assessment |
15 Global Retail Sourcing Procurement Market - Opportunity Assessment |
15.1 Global Retail Sourcing Procurement Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Retail Sourcing Procurement Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Retail Sourcing Procurement Market Opportunity Assessment, By Component, 2021 & 2031F |
15.4 Global Retail Sourcing Procurement Market Opportunity Assessment, By End User, 2021 & 2031F |
15.5 Global Retail Sourcing Procurement Market Opportunity Assessment, By Deployment Mode, 2021 & 2031F |
15.6 Global Retail Sourcing Procurement Market Opportunity Assessment, By Service Type, 2021 & 2031F |
16 Global Retail Sourcing Procurement Market - Competitive Landscape |
16.1 Global Retail Sourcing Procurement Market Revenue Share, By Companies, 2024 |
16.2 Global Retail Sourcing Procurement Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |