The exhaustive task of managing, storing, and analyzing data is making businesses opt for cloud technologies. The shift to the cloud allows these businesses to effectively manage and process data for real-time insights. To fulfill the growing demand and stay competitive, retailers must extend their reach to customers with multiple stores and manage the entire supply chain. Integrating cloud computing in the retail sector has paved the way for more businesses opting for e-commerce platforms, thereby improving efficiency and end-user experience.
One of the major reasons that most retailers are keen on building their online presence to drive sales and growth is due to the shift in consumer shopping habits. Thanks to the pandemic, we have seen a massive shift from in-store to online. Shifting to the cloud has helped save both time and resources and allowed businesses to grow their e-commerce platform.
Key Benefits of Cloud Computing for E-commerce & Retail Sector:
● Scalability: Cloud computing allows to build e-commerce presence quickly and helps businesses grow. The scale up or down model perfectly syncs with the needs of the retail sector Adding on-premise servers adds to IT and infrastructure costs which with the use of the cloud can be allocated towards more productive areas. The retail sectors stand to gain a lot more by showcasing their business on an e-commerce platform and gaining brand recognition soon.
● Speed: Speed plays a huge role when it comes to building an online presence, specifically if you are in the e-commerce, retail supply chain sectors. A recent study showed that almost 40 percent of customers abandon a webpage if it takes more than three seconds to load. For e-commerce websites, speed is of paramount importance, and cloud computing can offer great computational power, storage, and bandwidth.
● Stability: E-commerce websites and retail sectors showcasing their products in e-commerce can mean only one thing. New product launches, new ad campaigns translate to a spike in website traffic. By opting for cloud hosting, businesses can achieve superior stability while doing online retail. Cloud offers state-of-the-art data centers where you can rest assured that your business functioning will remain unperturbed.
● Security: With e-commerce portals, the question of safety is of utmost importance. The customers must feel that your platform is safe to make payments and they are transmitted securely. Cloud computing offers superior security and advanced tools that help protect your business from malicious attacks thus building the confidence of customers and resulting in showcasing your brand as a reliable one online and standing out from the crowd.
● Cost-Effective: For retailers who are just now starting out on building their online presence, choosing an e-commerce platform hosted in a cloud environment can be beneficial and offer crucial savings. Cloud offers the flexibility of pay-as-you-go and with the benefits reaped, it can be reinvested back to grow your business.
● Convenience: By using cloud models, IT administrators can increase the number of virtual machines and customize the e-commerce store. This integration via cloud reduces the dependency on on-prem IT staff, setting up of physical hardware, and allows businesses to focus on more important things on what products to add to enhance growth.
● Disaster Recovery: Cloud computing also offers a quick recovery in case of disaster since all the required data is stored in the cloud eliminating the need to have secondary data centers for backup purposes.
● Reduced Labor and Overhead Costs: With retail stores opting for e-commerce aka online presence, they can reduce the number of physical outlets, create a central workplace through which goods can be shipped. This will directly result in reducing labor costs and other maintenance costs.
Cloud computing can turn out to be the best decision for your business when you choose the right cloud service provider. The right service provider can help in significantly reducing the costs by as much as 30 percent. Most of the e-commerce platforms opt for AWS Cloud migration since it can help move enormous workloads in a staged manner and offers expertise and experience to ensure the migration is successful.
Cloud computing offers multiple benefits that retailers and e-commerce businesses can take advantage of by migrating to the cloud. Cloud computing can definitely empower and enhance both the e-commerce and retail sector. It is no more just a business tool and is rather a requirement for e-commerce sites and the retail sector to stay afloat and stay successful.