Understanding and meeting evolving shopper expectations will give you a “thumbs up” in converting visitors into valued customers. Today’s shoppers expect an exceptional customer experience. They are willing to converse and exchange data if you promise to deliver personalization, expert service, accurate inventory, and a seamless omnichannel shopping experience.
In a fast-paced retail market, there are always new challenges faced by business owners. Enterprise resource planning (ERP) software has helped many businesses across various industries in streamlining day-to-day operations and automating processes. NetSuite Cloud ERP has become a catalyst for most retailers to connect disparate systems and meet customer expectations. On the other hand, experts are estimating the cloud-ERP market will be worth around $26.5 billion by 2020, indicating the trend for its adoption.
In this article, we explain how NetSuite Cloud ERP addresses the challenges of retail businesses. Before that, let us introduce a few features of Netsuite Cloud ERP for retailers. This software:
- Runs on a single and unified platform.
- Provides a 360-degree customer view.
- Manages orders effectively.
- Delivers an innovative customer experience.
- Scales as your business grows.
How does NetSuite help retail businesses in meeting customer expectations?
1. Shopping experience:
Customer shopping experiences change year-on-year. You can’t expect every generation of customers to have the same shopping patterns. Here are some stats indicating how shopping differs from generation to generation.
- Gen X and baby boomers tend to prefer in-store shopping that has an easy return policy.
- Millennials prefer online shopping for shipping convenience.
- Gen Z prefers in-store shopping with friends.
- About 75% of millennials and Gen Z use smartphones for shopping.
- Over 63% of Gen Z consumers use laptops to shop online.
Considering the above scenarios, retailers should meet the customer shopping requirements despite the limitations of these platforms. But real-time disruptions in shopping channels stagger the growth and brand value of retail businesses.
NetSuite Cloud ERP is an integrated solution that connects disparate systems and automates the process. NetSuite ERP brings all your data together and helps in making informed decisions. The Cloud ERP solution helps in managing the customer experience by automating back-office operations. Furthermore, NetSuite helps you in managing business operations at a low cost.
2. Evolving customer expectations:
Improved customer experience is the ultimate goal of any retail business. With technology and shopping platform disruptions, the customer shopping journey has changed more abruptly than ever before. Customers tend to prefer to shop with a brand that interacts directly or offers a few personalized discounts; usually, they spend more time on the websites of those that send customized offers. Whereas, with legacy systems, many retailers are lacking in personal communications with customers. This is another roadblock of retail business growth.
NetSuite cloud ERP helps in personalizing and customizing offers to existing customers. You can conduct personalized marketing and sales activities with NetSuite, and you can integrate NetSuite with leading shipping carriers like FedEx and UPS. It makes tracking easy and reduces manual intervention.
Above all, if you have an eCommerce website and are struggling with customer nurturing, NetSuite allows an effective integration process. SuiteCommerce is another offering from NetSuite that handles retail eCommerce business.
Know the benefits of NetSuite eCommerce integration.
3. Streamlined return process:
Imagine a situation: How would you feel about a long and mundane product-returning process? The thought probably annoys you. A complex return process impacts loyalty and brand value because customers need a quick and timely response from retailers to replace or deliver a new product. But many legacy systems are far behind in offering improved customer experience and a shorter waiting process.
NetSuite is a sophisticated ERP software for retail businesses to track and monitor the product-returning process. It embraces “Case Management” functionality that tracks the entire product-returning process with a “Return Merchandise Authorization (RMA)” number.
- NetSuite Cloud ERP helps retailers manage inventory with returned products in-place. It allows you to spot issues with a specific product and get in touch with customers to resolve those issues quickly.
- NetSuite’s automated email feature enhances the customer experience. You can also trigger emails at various stages of delivering the products.
- With NetSuite, you can have a 360-degree view of customer browsing behavior, previous purchases, and the number of returns. It helps in managing and improving the customer experience.
- NetSuite keeps track of items that are being returned. It benefits retailers to identify repeat returns linked to a particular batch or manufacturer.
Amzur is a recognized NetSuite consulting partner that has helped many small and mid-size retail businesses in fueling their growth. We are experts in scripting NetSuite from scratch and can customize according to business goals. Our NetSuite implementation experts have worked on various applications to leverage the power of cloud computing and to ensure that our clients have the right tools and processes in place.
Amzur’s NetSuite Practice Director, Scott Jorgensen (link to LinkedIn Profile), has been working in this space for over 20 years. He has been on every side of the process, optimizing the complexities of doing business. He says SuiteCommerce is a sophisticated solution for growing retail businesses that encompasses all future-ready functionalities.