#99-Cloud Use-cases and Value Creation Opportunity for Retailers
There are many potential use cases for cloud computing in the retail industry. Some examples include:
- E-commerce, D2C, or Digital Stores: Retailers can use cloud-based platforms to host their online stores, allowing them to scale up and down as needed to meet demand.
- Inventory management: Cloud-based inventory management systems can help retailers keep track of what products they have in stock and where they are located.
- Customer relationship management (CRM): Retailers can use cloud-based CRM systems to store and analyze customer data, helping them personalize their customer interactions.
- Point-of-sale (POS) systems: Cloud-based POS systems can allow retailers to process transactions, track inventory, and analyze sales data from multiple locations.
- Marketing and advertising: Cloud-based platforms can help retailers to plan and execute targeted marketing campaigns, using data analytics to track their effectiveness.
- Personalization and Loyalty Programs- Retailers are keen to know the consumers better and personalize offers. 360' persona view of customers and customizing the loyalty programs to their needs can be done via cloud solutions.
How big is the personalization opportunity for retailers?
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What does the retailer survey suggest?
According to a survey by the National Retail Federation, 81% of retailers use cloud computing in some form. The most popular uses of the cloud in retail are for e-commerce (70%), CRM (61%), and marketing and advertising (56%).
In terms of the benefits of using the cloud in retail, a survey by Retail Dive found that the top three benefits for retailers were improved customer service (43%), cost savings (40%), and increased efficiency (38%).
Additionally, research from Accenture suggests that retailers using cloud-based technologies are able to achieve 20–30% higher profit margins compared to those who do not.
It’s worth noting that the use of cloud computing in the retail industry is still relatively new, and as such, there is an ongoing debate about the exact benefits and drawbacks of using the cloud. However, the overall trend seems to be toward increasing the adoption of cloud-based technologies in the retail sector.
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How AWS helps retailers?
Born from Retail, Built for Retailers. Driven by a relentless customer obsession, AWS retail cloud solutions empower you to create exceptional experiences built for the future of retail.
Regards,
Sidhartha Sharma
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