3 Ways NetSuite Cloud ERP Supports Retailers
As consumers continue to drive the economy, it is estimated that retail sales will amount to nearly $3.9 trillion in 2020, despite the global pandemic and lingering trade war. The retail industry has seen a significant spike in e-commerce sales as online shopping becomes a norm among millennials.
Despite the revenue growth, the majority of the businesses in the retail industry are struggling to deliver an omnichannel experience that meets the demands of 21st-century consumers.
Enter: NetSuite for retail companies.
NetSuite is an integrated, cloud-based, mobile-ready solution that enables retailers of all sizes to incorporate automation and innovation in their key business operations. It not only helps retailers manage the complexities of electronic retail but also gives them a competitive edge to satisfy customers and increase profits.
Let’s look at some of the biggest benefits that retailers enjoy by implementing NetSuite’s cloud ERP solution:
A Unified View of the Business
Retail companies of this day and age need robust e-commerce storefronts that integrate with a unified cloud technology systems—and that’s exactly what NetSuite offers.
NetSuite Cloud solution addresses the challenges and bottlenecks created by legacy systems. It gives businesses access to an end-to-end unified system that provides real-time insights into inventory, customers, financials, sales and more.
NetSuite’s Cloud ERP solution is a flexible and agile platform that scales with your business at a far lower cost than traditional on-premise systems.
Manage Promotions and Marketing Campaigns
NetSuite’s built-in functionality allows retailers to efficiently manage stackable promotions with multiple discounting options, customer-specific discounts, and volume pricing. It gives you the opportunity to find new customers, increase average sale size and encourage repeat business.
With NetSuite, you can execute targeted personalized email campaigns and manage affiliate marketing as well as paid and online searches. Moreover, it gives you the opportunity to analyze ROI and revenues for campaigns in real-time.
Better Customer Relationships
Build lasting customer relationships through personalization and unique segmentation options with NetSuite Cloud ERP.
With a 360-degree view of your channels, products, and customers, you can leverage various functionalities like:
- Access to historical customer data (including purchases and returns)
- Real-time visibility into customer activity
- Support customer requests
- Loyalty points balance
- Analyze average time between transactions
Having access to essential customer information across channels allows you to deliver a personalized customer experience that boosts customer satisfaction.
Maximize your NetSuite investment with help from one of the leading NetSuite Implementation providers, Ravenstone Solutions.
Our team of experts can help your business seamlessly integrate with NetSuite’s add-ons and customize your NetSuite Cloud solution for leading practices in retail.
Get in touch with us at 1(800) 459-7128 today for more information on our NetSuite Implementation and Consulting services.