RUNSYSTEM | GMO-Z.com RUNSYSTEM Joint Stock Company
Mar 21, 2023
Cloud Computing are helping the retail industry reduce infrastructure, storage, and computing costs to enable real-time access to operational data and inventory.
To continue to thrive in this highly competitive industry, leaders must expand their reach to customers by managing multiple stores and supply chains, delivering a unique experience. Integrating cloud computing in retail is the best option to streamline all these processes better. Applying the cloud reduces IT costs, simplifies workflows, and improves efficiency and user experience.
Global end-user spending on public cloud services is predicted to increase by 20.4% this year to a total of $494.7 billion, up from $410.9 billion in 2021 – according to the latest forecast from Gartner, the world’s leading IT research and advisory company. By 2023, end-user spending is expected to reach nearly $600 billion.
The COVID-19 pandemic has led to long-lasting changes in consumer shopping and payment behavior. Instead of going directly to stores, an increasing number of consumers prioritize online shopping to save time, effort, and costs.
Many retailers still operate in a traditional, disjointed, and outdated manner. This way of working slows down and hinders the exchange of data between information such as inventory, orders, and shipments across systems. Switching to the cloud can allow businesses to create equipped real-time data operation groups. Such multi-directional data flow can help retailers perform on time, restock products before they run out, intelligently delegate order placement to delivery teams, and ultimately improve the shopping experience.
Attractive Asian SME business woman working at home office. online shopping concept
Simple process to help businesses operate smoothly and easily manage
Each customer visiting an online retail store will generate a certain level of interaction and create a large amount of valuable data. Business data is confidential and needs to be securely protected. One of the significant reasons for business failure is the loss of personal data due to network intrusion, DDoS attacks, and ransomware. Cloud technology helps secure your data using advanced firewalls, encryption, event logging, internal firewalls, and physical security.
Supply chain management is one of the most important processes in the retail industry. That’s why Cloud Computing should be chosen to handle the entire process seamlessly. It connects all parts of the business and provides better display capabilities.
When using Cloud Computing, retailers can access all the features of their business domain. They can evaluate each area, from the supply chain and order status to product marketing. The clarity of this data can lead to fewer stockouts, optimized inventory levels, real-time location data collection, and comparison inventory levels with other locations. Cloud computing can help extract data retailers can use to develop new strategies to improve their operations.
It is not easy to predict the future of the Retail industry because consumer buying habits continue to change frequently. The advanced data analysis capabilities of the Cloud enable sellers to create new products based on customer feedback. Using valuable information from reviews, businesses can decide to introduce new products into their investment portfolio that align with current trends and customer preferences or discontinue existing products.
Cloud computing services provide high computational resources and statistical models to analyze customer buying behavior. Retailers can use this data by understanding buying behavior, trends, and interactions with the brand – allowing them to customize their business model for better performance.
Businesses can understand all about sudden seasonal increases and product bundles and can also analyze preferred delivery methods such as home delivery, online shopping, store pickup, etc. In this way, sellers can revolve their business model to generate better revenue.
Cloud computing helps retail store management quickly and enhances shopping experiences.
Can cloud computing handle both inventory and shipping? Cloud computing allows stores to reference the purchase history of each customer and check their shipping progress, regardless of when and where the order needs to be delivered. In this way, sellers can even send personalized proposals, membership benefits, reward codes, etc., to add to loyalty programs for their customers.
Retail is one of the fastest-growing industries. To meet rapidly changing business needs, retailers must focus more on business growth rather than spending time manually shopping, approving budgets, and other operational processes. This is where cloud computing in retail comes into play.
In cloud computing, retailers only pay for the resources they use, reducing the cost of manual labor, cutting down on warehouse staff, reducing dependence on managerial approval, and more. As businesses add roles to the management system, costs will be reassessed. This helps save a lot of money, usually spent on activities, hardware, software, etc.
Most businesses rely on promotional programs, the timing of the year, or even the weather to capture peak shopping periods. Therefore, the internal IT operations team can effectively handle changing situations. The cloud-based model allows retailers to sign contracts to use server space and gradually scale up as needed. This approach allows retailers to use the cloud more cost-effectively. Its cost flexibility is supported by different pricing options depending on the need to increase or decrease manpower usage.
Online shopping concept, women shopping online is a form of electronic commerce from a seller over internet.
The high flexibility of Cloud Computing helps retailers capture “golden” shopping moments.
Cloud computing has been and is showing its importance in every aspect of life, including the retail industry in Vietnam. With a leading experience advantage in the digital transformation, Tenten is considered the most comprehensive cloud computing solution provider today, with maximum safety.
For many years, Tenten.vn has always been highly regarded by customers and trusted by domestic and foreign agencies, ministries, and businesses. With a sound system capacity, diverse package design, and a team of highly qualified technical experts, Tenten.vn will be a reliable partner accompanying retailers on the journey of digital transformation and sustainable development.
Learn more about Cloud models HERE.
