According to The Insight Partners’ research, the global Trade Promotion Management Software Market was assessed at US$ 970.8 million in 2020 and is projected to be worth US$ 1,108.4 million by 2028, growing at 10.9% CAGR between 2021 and 2028. The rising expenditure on trade promotion management and increasing investments in trade promotion management strategies to boost sales are the crucial factors aiding market proliferation.

Trade promotion acts as marketing tool and is a part of revenue management, which indicates marketing campaigns for retailers/wholesalers. These promotion strategies used by consumer goods’ companies potentially give much better results than earlier trade promotion methods. By using these strategies, both CPG manufacturers and retailers enhance ROI on their trade-promotion investments. Increase in the adoption of trade promotion management will eventually boost the demand for software to manage all functions effectively.

The trade promotion management software is a tool used by organizations to strategize, plan, execute, and manage operations related to trade promotion campaign. The trade process is subjected to be technology enabled in the coming years. Tools such as spreadsheet and excel are being used for budget preparation of all the related activities. To optimize promotion expenditure incurred by end-user companies, the need of a software is necessary. Development of trade promotion strategy is the key to boost top-line revenue while maintaining customer loyalty in consumer goods, retail, or ecommerce companies. Presence of trade management software providers in the market, which helps targeted end users utilize trade promotion management software effectively, is driving the market growth.

On the other hand, the adoption of spreadsheet over software will likely hinder market augmentation over the forecast timeframe.