How Retailers Can Beat Inflation Like a Pro With These 5 Tips
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Budget concerns and inflation shock are causing noticeable shifts in consumer behavior, a head-spinning turnabout since the pandemic days of 2020. We went from not having access to enough goods to now not having the right goods at the right price points. Heading into the holiday season, retailers will need to look sharp and be able to deliver value to the increasingly cost-conscious consumer — with frictionless product discovery and digital shopping experiences, relevant inventory, and personalization.
Those are a few of the insights gleaned from a recent eMarketer webcast on how retailers can better combat the effects of inflation, with pragmatic recommendations from experts including Amy Eschliman, managing director of retail solutions strategy and industry engagement at Google Cloud; Alexis Hoopes, vice president and head of e-commerce and direct-to-consumer (DTC) at Mattel Inc; and Elissa Quinby, head of retail insights at Quantum Metric. We’d like to share five key takeaways that retailers can adopt.
1. Be prepared for earlier holiday planning. Budget-conscious buyers are planning their purchases earlier than ever. According to our partner Quantum Metric’s latest Retail Benchmarks research, 40% of U.S. consumers and 30% in the UK have already started their holiday shopping1. At Mattel, Alexis noted, “We’ve learned to be nimble and early for our consumers, and to have products available for them when they’re ready to shop.” With higher prices, she added, “Consumers are preplanning and researching more, viewing product detail pages multiple times to check a higher-price item before adding it to their basket.”
Quantum Metric’s same research also shows that while average cart values grew between January to July 2022 — larger than they were at the same time last year1 — consumers were shopping less frequently. Because of higher prices, 37% of shoppers are now pre-planning and purchasing items all at once to help keep to their budget1. Amy observed. “That means retailers need to make it super easy for customers to find what they want to avoid shopping-cart abandonment.”
Retailers who make it easier for shoppers to find the right products, by providing Google-quality search and recommendations, can help reduce cart abandonment and increase conversions.
2. Get a handle on out-of-stock issues. While many of the supply-chain issues that surfaced during the pandemic have cleared up, inventory continues to be a challenge in retail. During the 2021 holiday season, Google/Ipsos research shows that consumers saw a 253% increase in “out of stock” messages versus pre-pandemic2. Elissa further pointed out that a great majority of both U.S. and UK consumers experience out-of-stock issues several times a month. It’s a fluid situation, however, with retailers facing bloated inventory as consumer demands quickly pivot from, for example, branded goods to generic or white-label items. “In the next six months or so, you really need to make sure you have the right inventory to meet consumer demands,” she advised.
The need for end-to-end visibility and the ability to act in real-time across the supply chain has never been more pressing. Google Cloud and our partners are tackling the top supply chain issues head on with solutions that enable end-to-end visibility, analytics and alert-driven event management as well as AI solutions and automation to streamline processes like procurement, fulfillment, and delivery.
3. Introduce value: communicate the quality of the product and the experience. While rising prices are paramount for many shoppers, it’s a common misconception that consumers are making purchase decisions based solely on price. Alexis remarked, “In e-commerce, we talk about price, product, service, and experience. Price is only one of the pillars for consumers. At Mattel, we are fully focused on product and experience. What makes this special? How do we connect directly in new ways to the consumer? Create ‘wow’ moments and deeper connections. When we think about value for our consumers, it’s the strength of the products that will drive the purchase.”
Elissa also noted that while consumers are doing a lot of comparison shopping, it’s really about value, whether a high-quality product or a high-quality experience. Quantum Metric’s Continuous Product Design solution, which is built with BigQuery, ingests data across multiple digital touchpoints, including from mobile and web applications, and connects customer signals to every stage of the product lifecycle to help deliver the products and experiences that customers actually want.
4. Ensure consistent experiences across channels. Today, consumers crave the cross-channel shopping experience. “The channel experience has gone from online to in-store to now everywhere,” Amy commented. “We call it ubiquitous digital shopping.” Elissa added that 75% of consumers do most of their shopping digitally. However, mobile drives 67% of digital traffic, but just 49% of sales.1 “Recent trends in traffic and conversion rates by device show that we can expect the most traffic for the big sale days on mobile,” she said. “People are looking for discovery and awareness, maybe even adding items to the cart as a placeholder or reminder. But they prefer to complete a sale on a desktop. It will be critical for retailers to offer a consistent experience, especially on major sale days like Black Friday and Cyber Monday.” Elissa also advised wrapping up any experiments with product and site design early, making sure to understand the customer experience holistically across the organization and prioritizing efforts to eliminate friction.
Consumers now expect to be able to shop wherever and whenever best fits their needs, whether in a store, on your website, through your app, or from within a social media ad, and have it be a consistently good experience no matter how they first entered or exited your commerce site. Google’s 2022 Retail Marketing Guide provides useful insights and tips on how to grow your online and in-app sales.
5. Personalize touchpoints to build loyalty. Connecting with your customer base and making sure they understand the value of your offering is essential. Alexis noted that the key is to keep your messages fresh as the holiday shopping season expands, providing new messages as they keep coming back to your store. “We need to engage them by helping them find what they are looking for at the right time,” she said. “Recognize that they are doing more planning and wish-list building early, then buying last-minute gifts at lower prices towards the end. Make sure those are front and center.”
Alexis also pointed out that today, consumers are providing more data points with the products they view or the items sitting in their carts. “What’s so great about e-commerce is that we can use all of this to create more personalized, direct messages targeted to those consumers,” she commented.
Amy recommended continuing to focus on conversion with product discovery and personalization, harnessing customer data to drive insights and action. “Any company’s biggest asset is their data. Using it in as many ways possible and activating it across the company is incredibly important,” she remarked. “Take advantage of your first-party data to activate everything from marketing campaigns to a more efficient supply chain. For every customer who comes to one of your digital properties, make sure your product discovery is as easy as possible. Pay attention to your recommendations, driving personalization to make that experience as unique and fruitful for the customer as possible.”
Achieving these objectives requires a modern cloud data warehouse and activation of a customer data platform. Retailers can explore how Google Cloud’s advanced data capabilities and our ecosystem of partners can power a customer data platform that supports more personalized marketing, shopping experience, and customer service.
While these are our key takeaways, we invite you to register to watch the on-demand webinar, “5 Ways Retailers Can Combat the Effects of Inflation,” for even more insights.
- Quantum Metric Retail Benchmarks, “Adjusting for Inflation.” The report is based on aggregated browsing behavior from January to July 2022, paired with a survey of 3,400 consumers in the U.S. and UK.
- Google/Ipsos, Holiday Shopping Study, Oct 2021 – Jan 2022, Online survey, US, n=7,253, Americans 18+ who conducted holiday shopping activities in past two days
Regulatory-induced Challenges Create Hurdles to Cloud Adoption for Financial Services Firms
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The financial services industry is evolving at a rapid pace, with shifting consumer expectations, new technologies, and developing regulatory requirements. Financial services firms need the right technology to help them stay agile and prepare for the future.
The cloud is a key point of leverage for firms looking to improve performance across a broad range of activities. Moving to the public cloud can advance operational resiliency, improve staff productivity, increase regulatory compliance and enhance business model innovation.
However, there are a number of financial services companies that are still hesitant in their cloud journeys. The barriers to adoption vary, from the complexity of legacy systems, to trust and skills gaps, regulatory uncertainty, and fragmentation of compliance requirements. Although many companies have embraced the benefits of cloud technology, more robust cloud adoption—especially around core back-office functions—will require additional facilitation, including through regulatory harmonization and streamlining.
A new comprehensive study on cloud adoption in financial services
To better understand the challenges and opportunities of cloud adoption in financial services Google Cloud, together with the Harris Poll, surveyed more than 1,300 leaders from the financial services industry across the United States, Canada, France, Germany, United Kingdom, Hong Kong, Japan, Singapore and Australia.
There were five noteworthy takeaways from the study:
1. A vast majority of financial services companies are already using some form of public cloud. A large number of surveyed financial services companies (83%) report they are deploying cloud technology as part of their primary computing infrastructures. Of those using cloud technology, the most popular architecture of choice is hybrid cloud (38%), followed by single cloud (28%), and multicloud (17%). Notably, of respondents without a multicloud deployment, 88% reported they are considering adopting a multicloud strategy in the next 12 months.
2. Financial services institutions in North America are leading in cloud adoption. Of the financial services companies who are implementing a cloud strategy, the highest levels of cloud workload adoption were reported in North America, with institutions in the U.S. (54%) and Canada (52%) leading the way. The lowest level of cloud adoption was reported in Japan (42%).
3. As financial services companies continue to use the cloud, more core functionalities can and will be migrated. While many financial services companies have migrated substantial workloads to the cloud, the industry is far from full adoption when it comes to core, back-office workloads. Of financial services companies currently using a majority cloud strategy in the United States, for example, only half (54%) of their workloads are fully deployed in the cloud. Data and IT security (74%), regulatory reporting (57%), and fraud detection and prevention (57%) rank among the highest workload adoption. Core underwriting activity (40%) and data reconciliation (48%) ranked lowest. Across Europe, cloud usage for core activities like underwriting also scored low with the UK listing only 30% adoption.
4. Among respondents, there is a very strong positive perception of the potential for cloud technology to assist in business operations and regulatory compliance. Nearly all respondents (>88%) agreed that cloud adoption can:
- help adapt to changing customer behaviors and expectations,
- enhance operational resilience,
- support the creation of innovative new products and services,
- enhance financial services institutions’ data security capabilities, and
- better connect siloed legacy software infrastructure within financial services institutions.
5. Certain regulator-induced challenges, including the complexity of sectorial compliance frameworks and fragmentation, create hurdles to cloud adoption for financial services companies. While 88% of respondents had a positive view of current regulatory efforts to provide guidance and clarity for cloud implementation, the results showed that more needs to be done to facilitate adoption. Most respondents (84%) agree that regulatory reviews and approvals take too long because of regulatory fragmentation across regulatory bodies. And 78% say that regulatory uncertainty over the use of public cloud prevents their organizations from adopting cloud technologies that would otherwise provide benefit to them. Additionally, a third of all on-premises respondents (38%) say that the large investment of resources for the regulatory approval process is a reason why they’re not using cloud services.
“While many banks have already deployed hybrid cloud environments, others are still in various stages of planning and deploying,” said Jerry Silva, research vice president for IDC Financial Insights. “Clearly, hybrid infrastructure is a reality, and financial institutions must focus not only on leveraging the modern infrastructure model to gain efficiencies, resilience and agility, but also on taking the necessary steps to manage such environments, including the security and compliance of cloud services.”
Future recommendations for financial services regulators
Financial services firms should continue to maximize the potential of technology by migrating more core workloads to the cloud, and actively considering multicloud and hybrid-cloud strategies. Such strategies enhance resiliency of existing IT infrastructure and reduce concerns over vendor lock-in.
The research also points to steps that regulators could take to provide additional clarity and guidance, such as aligning regulatory reviews across agencies to avoid fragmentation; developing regulatory “safe harbors” for cloud adopters based on adherence to accepted standards and best practices; training regulatory staff on emerging tech; and advancing data reporting requirements via cloud and related technologies.
In the past few years, many regulators across the globe have taken a robust approach to rationalizing rules and guidance to cloud adoption in the financial sector, which has helped significantly stimulate adoption. But further assurances and harmonization of best practices around supervision is needed to advance risk-based and secure digital innovation.
At Google Cloud, we’re committed to working with financial services customers and regulators to provide them with controls and assurances on risk management, data locality, transparency, and compliance. We are constantly engaging with regulators to share information, respond to their considerations and concerns, and address questions in the interest of transparency and building trust.
To learn more about these findings and more, download our infographic and our full report.
Research methodology
The survey was conducted online by the Harris Poll on behalf of Google Cloud, from December 7, 2020, to January 4, 2021, among 1,363 senior executives in France (n=113), Germany (n=178), the UK (n=192), Hong Kong (n=99), Indonesia (n=100), Japan (n=142), Singapore (n=71), Australia (n=134), Canada (134), and the United States (n=200) who are employed full-time, part-time, or self-employed whose main functional role is in risk/compliance or IT at a company in the banking, finance, or financial services industry with a title of director level or higher. The data in each country were weighted by the number of employees to bring them into line with actual company size proportions in the population. A global post-weight was applied to ensure equal weight of each country in the global total.
IBM Spectrum LSF and Google Collab: Leverage Google Cloud’s Scalability and Compute Engine Infrastructure
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High Performance Computing (HPC) is prevalent today across many industries, including financial services, life sciences, higher education research, manufacturing, and energy. More and more businesses are deploying HPC workloads in the cloud to take advantage of its elasticity, scalability, and availability. Job schedulers are critical for HPC applications given the nature of these workloads that create, process, and tear down thousands, and sometimes millions, of vCPU and network resources with TB to PB of storage capacity. Job scheduling tools lead to improved operational efficiency and a degree of certainty that a particular HPC job, which can run for hours to weeks, will complete successfully.
IBM Spectrum LSF is used extensively in the manufacturing and semiconductor industry to manage Electronic Design Automation (EDA) workloads. Dynamically running workloads on-premises and in the cloud, also known as cloud bursting, is becoming a more common practice to address capacity and provisioning time constraints within data centers and enable enterprises to take advantage of virtually unlimited resources.
However, the challenge with cloud bursting is integrating and maintaining operational consistency across on-premises and cloud environments. IBM Spectrum LSF, in combination with Google Cloud, addresses this problem head on.
Google Cloud is excited to announce, in collaboration with IBM, enhanced capabilities to IBM Spectrum LSF that enables organizations to integrate their on-premises job scheduling scripts with resources deployed in Google Cloud. Customers are now able to fully leverage Google Cloud’s highly scalable and secure Compute Engine, networking and storage infrastructure.
The LSF-Google Cloud resource connector patch supports key Google Cloud differentiators including Local SSDs, GCE instance templates, Preemptible VMs, and more:
- Bulk API support– Deploy large fleets of VM instances in a matter of seconds.
- Instance Templates – Simplify VM configuration by creating reusable templates.
- All Machine Types – Supports all GCE VM families and machine types, including Custom Machine Types.
- GPUs – Attach up to 16 GPUs per instance, including the largest A2 instances with up to 16 NVIDIA A100 GPUs
- Preemptible VMs – Preemptible VMs are provisioned from excess Compute Engine capacity and is a significant way to save money on GCE resources.
- Local SSD – Attach up to 9TB of NVMe SSD per instance
- Hyperthreading – Supports the “threads-per-core” option in GCE, which allows per-VM hypervisor level Hyperthread configuration (when supported by Instance Templates)
- Images – Supports custom disk images, including full support for Windows, for all attached Persistent Disks
- Placement Policies – Control where the instances are physically located relative to each other within a zone for improved low-latency performance
- Labels – Supports GCE Labels, which can be used for management of firewall rules, tracking billing, etc
- Minimum CPU Platform – Supports the ability to specify a minimum CPU Platform for your Virtual Machines.
Getting Started
This improvement to the IBM LSF Resource Connector was developed by IBM in coordination with Google. Find out more about the new supported features and their operation in the official IBM Spectrum LSF Resource Connector Documentation. You can also find additional documentation and download the software in the IBM Spectrum Computing Community. If you have further questions, you can contact IBM, or Google Cloud Sales.
Special thanks to Annie Ma-Weaver, Mark Mims, and Wyatt Gorman for their contributions.
Manhattan Associates and Google Cloud: How the Partnership Accelerates Future of Digital Retail
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While the shift to digital business and the cloud has been well under way for some years now, organizations today have a new sense of urgency due to COVID-19. Delivering digital transformation is no longer a ‘nice to have’ option, rather, it is an operational imperative. Taking advantage of the infrastructure, platform and solution gains that cloud and microservices architecture provide is a must for brands today.
At Google Cloud, we understand the pressures and challenges organizations of all sizes, across all industries are facing. The pandemic has dramatically impacted global commerce at-large, exposing (for many organizations across multiple sectors) gaps in omnichannel capabilities, business continuity and forecasting plans, not to mention spots in supply chain agility, resilience and responsiveness.
A rapidly evolving consumer-driven commerce landscape has put innovation squarely in the spotlight for supply chain teams all over the world, with the effects of the global pandemic making it increasingly difficult for manufacturers, wholesalers, third party logistics providers and retailers (in particular) to weather the perfect storm of fast-moving consumer trends and a need for ‘always on’ digital innovation.
These same effects have driven increasing interest and uptake of technology like the Manhattan Active® suite of solutions, as well as our own cloud platform; both of which afford organizations the levels of agility, flexibility and scalability needed to insulate their people, processes and long-term business strategies against unforeseen future obstacles such as global pandemics or international trade disputes.
An excellent example of this agility, flexibility and scalability in action is PVH’s response to the global pandemic. One of the most admired fashion and lifestyle companies with such iconic brands as Calvin Klein, TOMMY HILFIGER, Van Heusen, and IZOD, PVH was forced to temporarily close its physical stores and, as a result, experienced a sudden massive increase in online sales. The retailer was able to quickly pivot by adjusting its business rules in Manhattan Distributed Order Management (part of Manhattan Active Omni) to expose store inventory to online consumers and reroute its fulfillment processes. Thanks to Manhattan’s solution delivered through Google Cloud, in a matter of days, PVH was able to leverage both its distribution centers and vast store network to fulfill its online orders.
“The events of 2020 have accelerated retail and ecommerce operations forward,” said David Herridge, executive vice president of Global Value Chain Technologies for PVH. “With quick, creative thinking and the right partner, we were able to pivot operations, satisfy our customers and prepare for the future.”
Manhattan’s products have been recognized for their ability to solve real-world challenges through innovation, and used by many of the world’s top brands to solve some of their most complex commerce and supply chain challenges: the latest recognition is Manhattan’s position as sole leader in the 2021 Forrester Wave™ for Order Management Solutions.
Since December 2018, Google Cloud has been collaborating closely with the team at Manhattan and its ‘always on’, versionless approach to innovation. And, during the last two and a half years, Manhattan has significantly accelerated its cloud-first solutions and market adoption, resulting in tremendous growth in its overall cloud business efforts.
By building cloud native solutions on Google Cloud, the teams at Manhattan continue to deliver the high-performance, elastic, high-redundancy, secure solutions their customers rely on. Moreover, it means both Google Cloud and Manhattan continue to innovate and push the boundaries of what is possible in terms of the supply chain and omnichannel innovations that underpin global commerce – innovation that is needed more now than maybe ever before.
Our commitment to distributed cloud solutions and ongoing innovation, not to mention the fact Google Cloud operates a net carbon-neutral cloud, means that the working partnership between both industry leading teams continues to be a perfect match of brand values; not just from a technology perspective, but also a long-term sustainability and environmental one too.
More information on the partnership can be found here.
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Rethinking Financial Services with Google Cloud
Budget concerns and inflation shock are causing noticeable shifts in consumer behavior, a head-spinning turnabout since the pandemic days of 2020. We went from not having access to enough goods to now not having the right goods at the right price points. Heading into the holiday season, retailers will need to look sharp and be able to deliver value to the increasingly cost-conscious consumer — with frictionless product discovery and digital shopping experiences, relevant inventory, and personalization.
Those are a few of the insights gleaned from a recent eMarketer webcast on how retailers can better combat the effects of inflation, with pragmatic recommendations from experts including Amy Eschliman, managing director of retail solutions strategy and industry engagement at Google Cloud; Alexis Hoopes, vice president and head of e-commerce and direct-to-consumer (DTC) at Mattel Inc; and Elissa Quinby, head of retail insights at Quantum Metric. We’d like to share five key takeaways that retailers can adopt.
1. Be prepared for earlier holiday planning. Budget-conscious buyers are planning their purchases earlier than ever. According to our partner Quantum Metric’s latest Retail Benchmarks research, 40% of U.S. consumers and 30% in the UK have already started their holiday shopping1. At Mattel, Alexis noted, “We’ve learned to be nimble and early for our consumers, and to have products available for them when they’re ready to shop.” With higher prices, she added, “Consumers are preplanning and researching more, viewing product detail pages multiple times to check a higher-price item before adding it to their basket.”
Quantum Metric’s same research also shows that while average cart values grew between January to July 2022 — larger than they were at the same time last year1 — consumers were shopping less frequently. Because of higher prices, 37% of shoppers are now pre-planning and purchasing items all at once to help keep to their budget1. Amy observed. “That means retailers need to make it super easy for customers to find what they want to avoid shopping-cart abandonment.”
Retailers who make it easier for shoppers to find the right products, by providing Google-quality search and recommendations, can help reduce cart abandonment and increase conversions.
2. Get a handle on out-of-stock issues. While many of the supply-chain issues that surfaced during the pandemic have cleared up, inventory continues to be a challenge in retail. During the 2021 holiday season, Google/Ipsos research shows that consumers saw a 253% increase in “out of stock” messages versus pre-pandemic2. Elissa further pointed out that a great majority of both U.S. and UK consumers experience out-of-stock issues several times a month. It’s a fluid situation, however, with retailers facing bloated inventory as consumer demands quickly pivot from, for example, branded goods to generic or white-label items. “In the next six months or so, you really need to make sure you have the right inventory to meet consumer demands,” she advised.
The need for end-to-end visibility and the ability to act in real-time across the supply chain has never been more pressing. Google Cloud and our partners are tackling the top supply chain issues head on with solutions that enable end-to-end visibility, analytics and alert-driven event management as well as AI solutions and automation to streamline processes like procurement, fulfillment, and delivery.
3. Introduce value: communicate the quality of the product and the experience. While rising prices are paramount for many shoppers, it’s a common misconception that consumers are making purchase decisions based solely on price. Alexis remarked, “In e-commerce, we talk about price, product, service, and experience. Price is only one of the pillars for consumers. At Mattel, we are fully focused on product and experience. What makes this special? How do we connect directly in new ways to the consumer? Create ‘wow’ moments and deeper connections. When we think about value for our consumers, it’s the strength of the products that will drive the purchase.”
Elissa also noted that while consumers are doing a lot of comparison shopping, it’s really about value, whether a high-quality product or a high-quality experience. Quantum Metric’s Continuous Product Design solution, which is built with BigQuery, ingests data across multiple digital touchpoints, including from mobile and web applications, and connects customer signals to every stage of the product lifecycle to help deliver the products and experiences that customers actually want.
4. Ensure consistent experiences across channels. Today, consumers crave the cross-channel shopping experience. “The channel experience has gone from online to in-store to now everywhere,” Amy commented. “We call it ubiquitous digital shopping.” Elissa added that 75% of consumers do most of their shopping digitally. However, mobile drives 67% of digital traffic, but just 49% of sales.1 “Recent trends in traffic and conversion rates by device show that we can expect the most traffic for the big sale days on mobile,” she said. “People are looking for discovery and awareness, maybe even adding items to the cart as a placeholder or reminder. But they prefer to complete a sale on a desktop. It will be critical for retailers to offer a consistent experience, especially on major sale days like Black Friday and Cyber Monday.” Elissa also advised wrapping up any experiments with product and site design early, making sure to understand the customer experience holistically across the organization and prioritizing efforts to eliminate friction.
Consumers now expect to be able to shop wherever and whenever best fits their needs, whether in a store, on your website, through your app, or from within a social media ad, and have it be a consistently good experience no matter how they first entered or exited your commerce site. Google’s 2022 Retail Marketing Guide provides useful insights and tips on how to grow your online and in-app sales.
5. Personalize touchpoints to build loyalty. Connecting with your customer base and making sure they understand the value of your offering is essential. Alexis noted that the key is to keep your messages fresh as the holiday shopping season expands, providing new messages as they keep coming back to your store. “We need to engage them by helping them find what they are looking for at the right time,” she said. “Recognize that they are doing more planning and wish-list building early, then buying last-minute gifts at lower prices towards the end. Make sure those are front and center.”
Alexis also pointed out that today, consumers are providing more data points with the products they view or the items sitting in their carts. “What’s so great about e-commerce is that we can use all of this to create more personalized, direct messages targeted to those consumers,” she commented.
Amy recommended continuing to focus on conversion with product discovery and personalization, harnessing customer data to drive insights and action. “Any company’s biggest asset is their data. Using it in as many ways possible and activating it across the company is incredibly important,” she remarked. “Take advantage of your first-party data to activate everything from marketing campaigns to a more efficient supply chain. For every customer who comes to one of your digital properties, make sure your product discovery is as easy as possible. Pay attention to your recommendations, driving personalization to make that experience as unique and fruitful for the customer as possible.”
Achieving these objectives requires a modern cloud data warehouse and activation of a customer data platform. Retailers can explore how Google Cloud’s advanced data capabilities and our ecosystem of partners can power a customer data platform that supports more personalized marketing, shopping experience, and customer service.
While these are our key takeaways, we invite you to register to watch the on-demand webinar, “5 Ways Retailers Can Combat the Effects of Inflation,” for even more insights.
- Quantum Metric Retail Benchmarks, “Adjusting for Inflation.” The report is based on aggregated browsing behavior from January to July 2022, paired with a survey of 3,400 consumers in the U.S. and UK.
- Google/Ipsos, Holiday Shopping Study, Oct 2021 – Jan 2022, Online survey, US, n=7,253, Americans 18+ who conducted holiday shopping activities in past two days
Consumption Packs Shorten’s Customers Transition to Google Cloud and Boosts Partners’ Financial Growth
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When we launched Partner Advantage, we committed to making it predictable and easy for partners to drive business with us. Since launch, those commitments have been validated by channel experts like CRN, which gave Partner Advantage a 5-Star award for 2022, and by the fact that our partners have seen impressive growth* across virtually every facet of their business.
I am pleased to announce that our commitments endure today with the launch of Consumption Packs for Deal Acceleration Funds and Partner Services Funds (DAF and PSF for partners). Inspired by partner feedback, these new packages are designed to accelerate all stages of a customer’s journey to the cloud, and make it even easier and faster for partners to do business with us.
Consumption Packs are purpose-built so that partners can plan and initiate customer projects much more quickly, with predictable funding. They include assets and templates that allow partners to deliver Google Cloud designed and validated infrastructure, application migration and modernization plans to customers faster than ever–particularly for customers beginning their journey to the cloud. Based on learnings gathered from thousands of customer deployments, these turnkey packs have been designed by our partners and Google Cloud Partner Engineering and Professional Services’ teams.
Here’s a brief look at Consumption Packs in action:
- Consumption Packs offer pre-approved, curated templates and assets to simplify and shorten the process for most common projects.
- For Deal Acceleration Funds (DAF), packages include everything partners need to conduct assessments, workshops and proofs-of-concept so they can quickly meet customers where they are on their journey to the cloud.
- For Partner Services Funds (PSF), packages are structured so that partners can develop cloud ready foundation and migration plans that align with Google Cloud priority solution areas.
- Packages have pre-determined funding levels to enable faster deployments.
Partners still have the option to engage with Google Cloud Partner Advantage and their customers through customized requests, as they always have. This is ideally suited for projects that require a tailored approach to meet unique customer requirements.
We are launching nine consumption packs today focused on key enterprise workloads, with a vision toward introducing additional packages to cover more solutions. Partners can explore Consumption Packs now by visiting the Partner Advantage portal.
We welcome your continued feedback and suggestions, and look forward to helping our customers achieve new levels of growth and success, together.
See you in the cloud.
- The Google Cloud Business Opportunity For Partners, a commissioned Total Economic Impact™ study conducted by Forrester Consulting, October 2021
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