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Retailers Report Median Annual Outage Cost is Nearly $10 Million

OutlookIndiaOutlookIndia Ā· 1y
Retailers Report Median Annual Outage Cost is Nearly $10 Million

New Relic's State of Observability for Retail report reveals that observability provides significant business value for the retail/consumer industry, with many reporting $5 million in total value per year from their observability investments. Retailers face fierce competition and challenging economic conditions, making it crucial for them to invest in observability tools to create seamless, omnichannel customer experiences. The report highlights that retailers experienced outages at a higher frequency than other industries, with a median annual outage cost of $9.95 million. Retailers are investing heavily in observability, with 49% spending $500,000 or more and 31% spending $1 million or more per year. Consolidating tools and expanding observability capabilities are key trends in the industry.

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