How helpful can the latest product be?
Oracle (ORCL) seems to be making rapid investments in its retail cloud service triggered by higher demand across the retail industry. These investments are helping the company secure more retail contracts.
In September, it launched a new Oracle Retail Assortment and Item Planning Cloud Service for fashion and soft line retailers. The new product will help retailers easily access from the cloud detailed information for customers, inventory, orders, demand, pricing, and promotions.
So the deployment of the new technology may not only improve the management of stores but also help target the right customers with accurate products.
Past retail product launches and deals
In July, the Oracle Store, which takes care of inventory management in retail stores, launched its Retail Store Inventory Operations Cloud Service. It will allow shoppers to choose the right product based on color, size, and other features, thus saving time for customers as well as retailers. It also offers detailed information about the availability of the product in the store.
Also in July, French-based IdKids Community implemented Oracle Retail Planning and Optimization Cloud Services to analyze the behavior and preferences of consumers while shopping. Oracle Retail cloud also struck a new deal with global apparel fashion house operator Perry Ellis International on September 10. The fashion house will be using the Oracle Retail Customer Engagement solution to deliver a high-quality shopping experience to its customers across the United States and the United Kingdom. In Europe, many firms have replaced SAP (SAP) and Workday’s (WDAY) ERP (Enterprise Resource Planning) products with Oracle’s ERP products.
So the launch of these new retail products may not only help Oracle win more deals but also drive its top line. From the graph above, you can see Oracle’s revenue growth for the last five quarters.