What is common between the successful online retailers such as Amazon and ASOS?
Ever wondered how they are able to offer huge discounts, satisfy a large customer database, predict the demand and manage the inventory.
The answers to these can be well understood by looking at the cloud investments made by the retail giants. Cloud solutions take care of the additional inventory and reduced number of orders; freeing up the investments for other areas such as marketing, customer retention etc. With time Indian retailers have also become cognizant of value of cloud solutions. The convergence of cloud, analytics, social technologies and mobility has enabled the new- age retailers to manage the most valued asset- customers. In a competitive market where it is almost impossible to retain existing customers these retailers leave no stone unturned to do so.
Investing into the existing customer base provides large growth opportunity and tapping into this pool provides them a competitive edge. The customers are overwhelmed by the extraordinary experience provided and with each sale the customer database keeps growing almost geometrically.
So, has cloud really changed turned around retail sector in India too? Yes, the transformation of Indian retail has already begun.
The market is abuzz with all kinds of reforms and new policies. It is no surprise that Indian economy is booming. Investors are keen to enter India, oil prices are at a multi-year low and the socio- economic factors are all working in favor of India. This is the time to invest in retail…This is the time to invest in India…