Segments covered: By Type – Paper And Paper Product Merchant Wholesalers, Drugs And Druggists Sundries Merchant Wholesalers, Apparel, Piece Goods, And Notions Merchant Wholesalers, Grocery And Related Product Merchant Wholesalers, Farm Product Raw Material Merchant Wholesalers, Chemical And Allied Products Merchant Wholesalers, Petroleum And Petroleum Products Merchant Wholesalers, Beer, Wine, And Distilled Alcoholic Beverage Merchant Wholesalers, Miscellaneous Nondurable Goods Merchant Wholesalers; By Ownership – Wholesale/Distribution Chain, Independent Wholesalers
LONDON, July 29, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the global non-durable goods wholesalers market, technology advancements like robust data analysis, customer interaction, data collected through sensors that provide insight to the customer using IoT, and other technologies will be more prominent in the wholesale sector industry.
Many distribution business owners are beginning to realize the importance of making data-driven business decisions. Non-durable goods merchant wholesalers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers and building loyalty, data has become critical for most retail operations.
For instance, in February 2020, Sensitech, a supply chain visibility provider, launched a suite of IoT devices to include air-carrier approved and non-lithium battery models for real-time tracking of shipments when cargo is traveling by plane. With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for non-durable goods merchant wholesalers to identify and meet the needs and expectations of their customers , thus it is expected to drive the market going forward.
Wholesalers are increasingly using predictive analytics in their businesses. It is a robust tool for a wholesaler in today’s era of digital economy. A powerful in-memory technology integrated with predictive analytics and ERP data efficiently transforms the whole process of interpreting the information. Predictive analytics utilizes past data to predict future outcomes.
In addition, some of the applications also give predictive analytics to project customer profitability, improve marketing campaigns, and present a model business for different scenarios.
For example, SAP HANA integrated with BW is a predictive analytical tool, widely used for wholesale distribution and materials management including the whitepaper industry.
The Business Research Company’s report titled Non-Durable Goods Merchant Wholesalers Global Market Report 2020-30: COVID-19 Impact and Recovery covers major non-durable goods merchant wholesalers companies, non-durable goods merchant wholesalers market share by company, non-durable goods merchant wholesalers manufacturers, non-durable goods merchant wholesalers market size, and non-durable goods merchant wholesalers market forecasts. The report also covers the global non-durable goods merchant wholesalers market and its segments.
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Asia-Pacific was the largest region in the global non-durable goods merchant wholesalers market, accounting for 46.9% of the total in 2020. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the non-durable goods merchant wholesaler market will be South America and the Middle East, where growth will be at CAGRs of 11.8% and 7.9% respectively. These will be followed by the Africa and Asia Pacific where the markets are expected to grow at CAGRs of 6.6% and 6.4% respectively, during 2020-2025.
Technological advancements in the wholesale trade industry also include the use of RFID and AI. Companies involved in the non-durable goods merchant wholesalers market are using radio frequency identification technology (RIFD) to improve the operations, purchasing and distribution of their products to their customers. RFID uses radio frequency waves to transfer data over a wireless network. Goods are tagged with RFID tags and are tracked using an RFID reader and antenna. The technology uses electromagnetic fields for identification and tracking of items attached with RFID tags. RFID tagging allows the wholesalers to keep an account of data related to goods in transit, thus improving the supply chain process.
Players in the non-durable goods merchant wholesalers market are increasingly investing in artificial intelligence to have efficient business processes. Artificial intelligence is the stimulation of human intelligence processes by computer systems. The AI programs are used for the process of sales automation, billing and accounting in the wholesale industry that help businesses to become efficient. C&S Wholesale Grocer, a leading player in the wholesale industry in North America uses ForthKite’s machine learning supply chain platform to give its customers a real time of view of deliveries.
Non-Durable Goods Merchant Wholesalers Global Market Report 2020-30: COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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