IT services companies may see business from US retailers fall sharply, as some non-essential and luxury brands shut stores and furlough employees, analysts said. Infosys, Cognizant, Tata Consultancy Services and Wipro service the retail sector in the US and analysts said their clients would eventually cut overall IT services budgets.
“Any IT services company with higher exposure to luxury retailers is bound to take a hit. The non-essential retailers are not going to come back strong soon,” said Sanchit Vir Gogia, chief executive officer of Greyhound Research.
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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