Coming Quarters May See Retail Revenues Improve for IT Firms as Large US Retailers Invest in Tech | In the News

After the slump the IT sector saw in retail in the first quarter, coming quarters might see the sector revenues improve. For, the US retailers are spending in tech to improve their online presence and prepare for the post-pandemic shopping experience, say experts.

But, HSBC report said that for most IT firms exposure to small retailers are limited and these closures are not indicative of cut in IT spends. Yugal Joshi, Vice President, Everest Group, an IT consultancy firm, pointed out that the outsourcing will be able to offset cut in IT spend by retailers. “Net of it, the proportion of outsourcing pie will increase in the total IT services spend of a retail enterprise,” he added.

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