iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Retailers and CPG Brands lead the way in Cloud Adoption: Wipro Report

16 Feb 2022 , 12:50 PM

Wipro

Wipro Limited on Tuesday released a report indicating that retailers and consumer packaged goods (CPG) firms drive some of the highest return on investments (ROI) from the cloud.

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

In fact, the retail industry is leading all others in cloud adoption. More than three quarters (78 percent) of retailers–and 71 percent of CPG brands–are either mature users of cloud or intermediates that are advancing cloud investments, compared to 68 percent across all other industries.

Rapid cloud adoption is paying off handsomely for retailers and CPG brands, with retailers registering the highest revenue gains of any sector from cloud investments–4.75 percent, compared with four percent across all sectors–as they migrate, modernize, and embrace cloudnative application development.

Further, retail and CPG firms that participated in the survey are averaging an impressive ROI of 47 percent from cloud initiatives. ROI is even more staggering for firms who are mature users of cloud. CPG and retail firms considered cloud leaders are driving ROIs of 108 and 96 percent, respectively, from these initiatives.

“Inordinately disrupted by events of past two years, retailers and consumer brands face an urgent need to rapidly reinvent their businesses,” said Deviprasad Rambhatla, SVP and Sector Head – Retail, Services and Transportation, Wipro Limited. “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.”

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

“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.”

At around 12.52 pm, Wipro Ltd was trading at Rs565.35 per share up by Rs1.9 or 0.34% from its previous closing of Rs563.45 per share on the BSE.

Related Tags

  • Cloud Adoption
  • CPG brands
  • Investments
  • Retailers
  • returns
  • Wipro Limited
  • Wipro news
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248, DP SEBI Reg. No. IN-DP-185-2016
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.