NetSuite for Ecommerce

NetSuite for Retail Guide

What does NetSuite for Retail offer?

NetSuite for Retail is a cloud-based ERP (Enterprise Resource Planning) solution designed specifically for the retail industry. It offers a range of features and tools aimed at helping retailers manage their businesses more effectively and efficiently. Some of the key offerings of NetSuite for Retail include:

1. Unified commerce platform: NetSuite for Retail enables retailers to manage all aspects of their business, including eCommerce, point of sale, order management, and inventory, on a single platform. This unified approach helps streamline operations and provides a seamless customer experience across channels.

2. Inventory management: Retailers can efficiently manage inventory levels, automate purchasing processes, and track inventory movement across multiple locations and channels, helping them maintain optimal stock levels while reducing carrying costs.

3. Order management: NetSuite for Retail simplifies order processing by automating key aspects of the order lifecycle, including order capture, payment processing, and fulfillment. It also offers advanced capabilities such as returns management and order orchestration to ensure timely and accurate order fulfillment.

4. Point of sale (POS) system: NetSuite offers a POS solution that integrates seamlessly with its retail platform, allowing retailers to manage in-store and online transactions, customer data, and inventory in one place.

5. Customer relationship management (CRM): NetSuite for Retail offers robust CRM features, allowing retailers to better understand their customers, segment them based on purchasing behavior, and provide personalized marketing campaigns and promotions.

6. Financial management: NetSuite's financial management capabilities help retailers automate financial processes, improve cash flow, and gain real-time visibility into financial performance through reporting and analytics.

7. Reporting and analytics: NetSuite for Retail provides retailers with real-time access to key performance indicators (KPIs) and customizable reports, enabling them to make data-driven decisions and improve overall business performance.

8. Scalability: As a cloud-based solution, NetSuite for Retail can scale easily as a retailer's business grows, accommodating increased transaction volume and additional users without the need for costly upgrades.

9. Integration: NetSuite's platform is designed for easy integration with other applications and systems, which allows retailers to connect with third-party solutions for additional functionality, such as marketing automation or specialized eCommerce platforms.

10. Global capabilities: With multi-currency and multi-language support, NetSuite for Retail can support businesses with international operations, helping them manage global supply chains, taxes, and compliance requirements.

What are the benefits of NetSuite for Retail?

NetSuite for Retail provides several business benefits to retailers, helping them improve operational efficiency, enhance customer experience, and drive growth. Some of the key business benefits include:

1. Unified commerce platform: By consolidating various business functions onto a single platform, NetSuite for Retail streamlines operations, reduces data discrepancies, and simplifies management tasks. This enables retailers to achieve better control and visibility over their businesses, saving time and resources.

2. Real-time visibility: NetSuite's real-time reporting and analytics provide retailers with instant access to crucial performance metrics, allowing them to make informed, data-driven decisions. This increased visibility can help businesses identify opportunities for growth, optimize pricing and promotions, and improve overall performance.

3. Improved inventory management: With NetSuite for Retail's advanced inventory management features, retailers can maintain optimal stock levels, minimize stockouts, and reduce carrying costs. This can lead to better customer satisfaction, higher sales, and increased profitability.

4. Enhanced customer experience: NetSuite for Retail helps retailers deliver a seamless, consistent customer experience across all channels, including online, in-store, and mobile. By providing a unified view of customer data, the platform enables retailers to better understand and anticipate customer needs, leading to more personalized marketing and improved customer loyalty.

5. Increased efficiency and automation: NetSuite for Retail automates various processes, such as order management, inventory control, and financial management, reducing the potential for human error and freeing up staff to focus on more strategic tasks. This can lead to improved operational efficiency and cost savings.

6. Scalability and flexibility: As a cloud-based solution, NetSuite for Retail can easily scale to accommodate business growth, whether it's an increase in transaction volume, users, or locations. This enables retailers to grow their businesses without the need for costly infrastructure upgrades.

7. Simplified financial management: NetSuite for Retail's financial management capabilities streamline financial processes, improve cash flow, and provide better visibility into financial performance. This can help retailers better manage their finances and plan for future growth.

8. Integration capabilities: NetSuite's platform is designed for easy integration with other applications and systems, allowing retailers to extend their solution's functionality and create a customized, connected ecosystem that best meets their business needs.

9. Global capabilities: With multi-currency and multi-language support, NetSuite for Retail can support businesses with international operations, helping them manage global supply chains, taxes, and compliance requirements more efficiently.

10. Reduced IT costs and complexity: As a cloud-based solution, NetSuite for Retail eliminates the need for costly hardware and software installations and maintenance, reducing IT costs and simplifying the overall technology landscape for retailers.

Which retailers use NetSuite?

Many retailers across various industries and of different sizes use NetSuite as their ERP solution. Some well-known retailers that have implemented NetSuite include:

1. Outdoor Voices: An activewear brand that focuses on producing technical apparel for recreational activities. NetSuite helps them manage their eCommerce, inventory, and financials.

2. Lovesac: A furniture retailer known for its modular seating systems and beanbag chairs. They use NetSuite to streamline their operations, manage inventory, and consolidate financials.

3. POSH Baby and Kids: A distributor and retailer of high-quality baby products, including strollers and car seats. NetSuite helps them maintain inventory control, manage financials, and optimize their supply chain.

4. Toad&Co: An eco-friendly clothing brand that uses NetSuite for retail management, order processing, and financials, providing them with a unified view of their business.

5. Dylan's Candy Bar: A popular candy retailer that uses NetSuite for retail management, inventory control, and financial management, helping them maintain optimal stock levels and streamline operations.

6. RST Brands: A manufacturer and retailer of premium outdoor furniture and home decor. NetSuite helps them manage their eCommerce, inventory, and financials, allowing them to scale efficiently.

How much does NetSuite for Retail cost?

The cost of NetSuite for Retail can vary depending on multiple factors, such as the size of your business, the number of users, and any additional modules or customizations you may require. NetSuite typically offers a subscription-based pricing model, which includes both the software license and ongoing support.

As a cloud-based solution, NetSuite uses a tiered pricing structure, with costs increasing as you add more users, modules, or advanced features. It's important to note that NetSuite does not publicly disclose its pricing, as it often customizes packages based on the specific needs of individual businesses.