Retailers And CPG Brands Lead The Way In Cloud Adoption, Driving Outsized Returns And Growth From Investments Wipro Report

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According to a survey provided by Wipro Limited, a prominent worldwide information technology, consulting, and business process services company, retailers and consumer packaged goods (CPG) companies generate some of the best return on investments (ROI) from the cloud.

According to Wipro FullStride Cloud Services’ report, “The Big Shift: How Retailers and Brands Drive Revenue and Growth with Cloud,” retailers and consumer brands are pushing the envelope in their cloud strategies and increasingly leveraging the cloud to drive business growth and competitive advantage, despite rapid changes in shopping behaviours and supply chain disruptions.

In fact, the retail industry is much ahead of the pack when it comes to cloud adoption. Compared to 68 percent across all industries, more than three quarters (78 percent) of retailers and 71 percent of CPG brands are either mature cloud users or intermediates advancing cloud investments.

As retailers migrate, modernize, and embrace cloud-native application development, rapid cloud adoption is paying off handsomely for retailers and CPG brands, with retailers seeing the highest revenue gains of any sector from cloud investments of 4.75 percent, compared to four percent across all sectors.

“Inordinately disrupted by events of past two years, retailers and consumer brands face an urgent need to rapidly reinvent their businesses. Our report proves that retailers and consumer brands that prioritize cloud adoption are not only able to transform faster and accelerate growth despite increasing external pressures but are also better positioned to adapt to future changes in business and technology,”

said Deviprasad Rambhatla, SVP and Sector Head – Retail, Services and Transportation, Wipro Limited.

“As retailers strive to become more agile and connected, moving to the cloud is becoming a critical capability to enable the flexibility and data fluidity they desire. The changes in consumer expectations and behaviors have driven a tremendous effort at retail firms to understand and connect with customers. Cloud adoption can clearly facilitate doing this in a smarter and more data-centric way,” 

said Melissa O’Brien, Research Leader, Retail and CPG Services, HFS Research.

Furthermore, cloud projects had a 47 percent ROI on average for retail and CPG companies who participated in the survey. The return on investment is considerably higher for companies that have been using the cloud for a long time. CPG and retail companies who are deemed cloud leaders are seeing 108 and 96 percent ROIs from these initiatives, respectively.

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