Vietnam Erp for Retailers Market Reach USD 26,058.89 thousands by 2025, Key Factors behind Market’s Hyper Growth

WILMINGTON, DE, UNITED STATES, April 23, 2024 /EINPresswire.com/ -- The Vietnam ERP for retailers market size was valued at $7,271.94 thousands in 2017, and is projected to reach at $26,058.89 thousands by 2025, growing at a CAGR of 17.4% from 2018 to 2025.

Demand forecasting is expected to grow at the highest CAGR during the forecast period, as the retailers has been focusing and investing into ERP for maximizing sales and reduced inventory carrying costs with the help of effective demand forecasting.

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With increased competition and a multitude of challenges facing retailers, Enterprise Resource Planning (ERP) systems have become indispensable for the retail industry to sustain and adapt to changing customer demands. Vietnam has emerged as one of the top and most attractive retail markets globally, boasting 800 supermarkets, 150 shopping malls, and over 9,000 traditional markets. The growth in Vietnam's retail industry, coupled with the necessity for enhanced business efficiencies and transparency among retailers, is driving the demand for ERP solutions in the market.

Moreover, the growing demand for role-based security and the expansion of the retail sector are significant contributors to the burgeoning Vietnam ERP for retailers market. However, challenges such as high investment costs and limited flexibility may impede its growth trajectory. Nevertheless, the surge in ERP adoption among small and medium retailers, along with the advent of cloud-based ERP solutions, presents substantial opportunities for market expansion in Vietnam during the forecast period.

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The Vietnam ERP for retailers market is poised for growth, propelled by the imperative need for streamlined operations, enhanced security measures, and the adaptation to evolving market dynamics.

The Vietnam ERP for retailers industry was led by the inventory management segment in 2017, and is projected to maintain its dominance during the forecast period, owing to the growth of the retail industry in Vietnam, supported by rise in spending, which enables the retailers to effectively manage the inventory levels, and improves business process and customer satisfaction. However, the demand forecasting segment is expected to witness the highest growth.

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The retailers face heavy customer footfall in most of the situations as customers to cater to the requirements of the customers. As a result, it is important to meet the demand with supply and offer them great service, which helps retain customers, and thus, in turn fosters the growth of the market. The retail ERP software enables easy and accurate tracking of past trends and forecasting of future demands. Moreover, it also helps them in maximizing sales and reducing inventory carrying costs, thus maintaining customer satisfaction and considered as a major Vietnam ERP for retailers market opportunity.

The Vietnam ERP for Retailers market analysis include some of the key market players such as Deskera, Epicor Software Corporation, Exact, IBM Corporation, Infor, Microsoft Corporation, Oracle Corporation, Plex Systems, Inc., SAP SE, and The Sage Group plc.

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