Cloud Services In The Retail Industry
The global cloud service market was worth approximately $326 million in 2019, and the forecast is that it will grow to about $1.6 billion by 2030. In the retail industry specifically, cloud services have played a significant role in helping reduce physical infrastructure, enabling real-time access to inventory and operational data, and enhancing storage.
Cloud computing has transformed retail businesses in several ways, including enhancing user experience, data security, inventory management, disaster management, and business profitability. All these are reasons why Mainstreet IT Solutions believes that your retail business should embrace cloud-based solutions.
The Growth of Cloud Solutions in the Retail Industry
Nick Martin, our Director of Managed Services, adds that cloud adoption is happening across the board in different sectors. While some are doing it faster than others, the retail industry is no exception.
The retail industry has taken to implementing cloud architecture on a large scale. As it is, cloud computing seems to be a critical differentiator among many businesses. For example, large companies like Microsoft are already developing entire cloud ecosystems focusing on the retail industry. A good example is the Microsoft Cloud for Retail solution that helps companies expand the data collected about their consumers to create a more personalized experience.
Besides, the retail industry is a highly competitive market that seeks to differentiate itself in any way possible. Given the high competition and pricing that cuts across the board, you can set your retail business apart using technology as your backbone. It’s undeniable that the technology direction the retail industry is heading is the cloud, and your company has no reason to be left behind.
If your retail business is yet to embrace cloud services, this is the opportune time. However, we understand how challenging it can be to choose from a myriad of the available cloud solutions on the market today. Mainstreet IT Solutions is your go-to partner to help you make the right decision in selecting the most viable cloud solutions for your business.
Drivers of Cloud Growth in the Retail Industry
Why are retail businesses embracing cloud solutions, and what does your firm stand to gain from this shift? Cloud technology has the potential to change the face of retail industry and prevent businesses from dying. At Mainstreet IT Solutions, we encourage retail enterprises to use cloud-based solutions for these reasons:
- Cost-effective solutions: we prefer cloud technology because it generally costs less than in-house operations. Your business stands to save a significant amount of money as you don’t need to buy, update, or manage systems. Besides, cloud solutions remove the need to hire employees to perform these functions in an in-house environment.
- Flexibility and scalability: cloud-based solutions offer flexibility, thanks to the varied pricing options. We will help you choose a package that allows you to increase or decrease your computing usages depending on your business needs. Besides, cloud solutions provide scalability at times of peak demand without having to purchase additional equipment. In most cases, this is an arrangement that most in-house infrastructure arrangements can’t match.
- Unified experience: we believe that cloud computing allows your business to provide users the same level of user experience as brick and mortar stores. For example, the cloud helps you create a unified user experience from store to online by using chatbots and artificial intelligence. Overall, a unified platform within the industry also provides room for seamless communication.
- Easy inventory management: data is the most valuable resource for businesses in this digital age. As such, you must take all steps necessary to protect it. With the help of cloud solutions, you can store, access, and recover data from a central location.
- Enhanced profitability: most businesses in the retail industry are struggling to maintain their profits. The good news is that cloud computing can help your company reduce costs in IT infrastructure. You can use it to eliminate or reduce expenses in licensing fees, software, and infrastructure. Besides, the cloud helps your company save on capital server maintenance. Since you deal with a vast amount of data, cloud technology becomes helpful in your day-to-day operations.
Due to its reliability, scalability, affordability, and disaster recovery, cloud computing is a solution that Mainstreet IT Solutions recommends for your retail enterprise. We are here to help you choose and implement a cloud solution customized for your business needs and settings.
What are the Cloud Use Cases for Retail?
Mainstreet IT Solutions recommends cloud-based solutions for the retail industry for several reasons. Apart from the benefits the cloud provides, it offers versatility in its wide range of applications.
The application of cloud technology makes it possible for smaller companies with smaller IT capabilities to compete effectively with the more prominent players in the market. Smaller businesses within the retail industry can collect data for a more personalized experience, just like some Fortune 500 retail companies.
While they may not take the position of these large companies, they stand a better chance to compete effectively, which is no wonder that retail companies are embracing the cloud at a rapid pace.
Additionally, cloud computing and data analytics in the cloud make it easier for retailers to make data-driven decisions and develop innovative marketing tactics. Cloud data platforms are the single source of data compiled from multiple sources.
As such, your retail business can be in a better position to plan targeted marketing campaigns for customized offerings. Overall, you will see an improvement in customer experience, value delivery, and business goals’ achievement.
Ready to Embrace Cloud Solutions for Your Retail Business?
Cloud technology is now an integral part of all businesses, and the retail industry is no exception. Small companies have witnessed growth by gradually switching to cloud-based solutions and integrating them into their business processes. Improved security, reduced operational infrastructure costs, and real-time access to inventory are just some driving factors for this technological shift.
If your retail business is yet to embrace cloud solutions, you are missing out on a world of possibilities. Our team of experts can help you make an informed decision in choosing the right cloud technology. Call us today for this and more of your business IT needs.