Showing posts with label Retail cloud market trends. Show all posts
Showing posts with label Retail cloud market trends. Show all posts

Why are Connected Devices Significant for Retail Cloud Market Prosperity?

For a lot of people these days, life without their smartphone is unimaginable. With their utility expanding way beyond calling and messaging, these electronics are virtually serving as people’s personal assistants. One of the strongest impacts of the increasing smartphone usage has been on the retail industry. More and more people are now shopping online, than going to the good-old brick-and-mortar stores. 

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The retailers and brand owners too have embraced the trend, by offering online shoppers exclusive discounts, cashbacks, same-day delivery, and lots more. With more and more stuff selling online, the retail sector is rapidly adopting cloud computing for enhanced operations. Thus, with the surge in the smartphone ownership rate and internet penetration, the retail cloud market is also growing rapidly. 

Smartphones are now doubling up at points of sale (POS), with storeowners using them to take payments, manage their inventory, and track the location of various supplies or the deliveries going out. By integrating cloud with such POSs, retailers can analyze customers’ preferences and accordingly modify their offerings. This is also helping the industry in recommending stuff to customers and adjusting marketing strategies, to retain and gain customers.

Another area where retail cloud market are being leveraged is compliance management. Edge-to-edge solutions for compliance cycle management allow retailers to see detailed product information when sourcing them or selecting the supplier. Additionally, these solutions also offer comprehensive customer support, which helps retailers engage with their customers and tend to their requirements, queries, and complaints better. 


This ultimately builds brand image, which is quite important in today’s times of stiff competition, where consumers are not only brand-conscious, but also retailer-conscious. Of the various solutions offered by retail cloud vendors — customer management, supply chain management, data security, workforce management, and reporting and analytics — end users are the most quickly opting for reporting and analytics. 

This is because of the increasing requirement for solutions that can help them in the analysis of data. With data at the core of important business decisions, analyzing it to gain actionable insights is being felt as the need of the hour. With reporting and analytics, end users can scour through huge volumes of unstructured and structured data to study customers’ buying patterns and preferences, so they know which product to promote to whom.
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Retail cloud market is growing due to increasing demand for compliance and collaboration

A key trend in the retail cloud market is the adoption of multiple payment options in the retail niche. With digital technologies making inroads into people’s everyday life, their demand to shop as per their own preferences, be well informed, and for multiple payment options is rising. In an effort to make the experience of shoppers smoother, retailers are integrating cloud-based payment platforms in their operations. Apart from offering customers access to numerous shopping options, retail cloud also implements enhanced point of sale (POS) solutions.

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The growing adoption of smart devices is one of the most significant factors behind the advance of the retail cloud market. This is a result of the increasing online activities in the retail domain and rising requirement for smooth information sharing and better network connectivity. Around the world, people are increasingly paying for products using mobile platforms. Additionally, with smart devices, retailers find it easier to tap potential customers, by studying shoppers’ interest and purchase history. This lets retailers align their business strategy as per the interest of customers, which helps drive sales.

Geographically, the retail cloud market is categorized into North America, Europe, Asia-Pacific (APC), Latin America (LATAM), and Middle East and Africa (MEA). Among these, during the historical period, the largest share in the market, in terms of revenue, was held by the North American region. This was a result of the faster integration rate of the cloud technology in retail in this region than anywhere else, as well as the fact that retailers are scrambling to personalize the shopping experience of customers.

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Therefore, as people demand a more customized shopping experience and retailers look at it as an opportunity to increase their revenue, the adoption of cloud solutions would continue increasing.

The research offers historical market size of the global retail cloud market for the period 2013 – 2016 and market forecast for the period 2017 – 2023.

GLOBAL RETAIL CLOUD MARKET

By Type – Solution (Supply Chain Management, Customer Management, Workforce Management, Reporting and Analytics, Data Security, and Others) and Service (Managed Service and Professional Service)

By Service – Software as a Service, Platform as a Service, and Infrastructure as a Service.

By Deployment Model – Public Cloud, Hybrid Cloud, and Private Cloud

By Enterprise Type – Large Enterprises and Small and Medium Enterprises

By Region – North America, Europe, Asia-Pacific and Middle-East & Africa (MEA), and Latin America
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