Are you a new retailer to NetSuite? Do you want to build a seamless omnichannel experience? Or are you simply just curious about how NetSuite can develop an omnichannel retail model? You have come to the right place - this article will provide you the most basic information about how to create an omnichannel retail journey with NetSuite.
What are NetSuite and an omnichannel retail experience?
NetSuite is a leading ERP (Enterprise Resource Planning) provider that is trusted by more than 26,000 organizations all over the world. The system is cloud-based, which provides the applications for businesses to prepare for growth. NetSuite’s solutions include ERP, financials, eCommerce, and CRM.
Omnichannel experience refers to the shopping activities that take place across different online and offline platforms. It enables customers to shop at one place and continue to complete the transaction at a different platform. A prime example of this is when customers buy online and pick up in store.
Create an omnichannel retail experience with NetSuite
Although omnichannel retail is still the new trend, it has been proven to be effective. Research has shown that companies with omnichannel strategies can retain on average 89% of their customers, compared to 33% for companies with less omnichannel engagement.
Indeed, NetSuite can help your business to gain success with an omnichannel retail model. Here are some of the most popular ways you can do with NetSuite:
Focus on customer experience
No matter how excellent your employee or inventory management tools can be, customers are the ones who directly impact your final revenue. When shifting from a single-platform store to an omnichannel model, it is important to take your customers into consideration, such as ”How will their experiences change?”. It might be beneficial to conduct a customer-mapping journey, including the selling touchpoints, buyer personas, etc.
With NetSuite, merchants can have a 360-degree view of customers and build long-lasting customer relationships. With its CRM solution, you can gain more visibility into your customers’ browsing and shopping patterns from all channels and touchpoints. NetSuite CRM creates customer profiles, enables them to track orders and many other customer relationship functions. This is highly important for businesses that are in the process of increasing the number of their selling platforms, as it requires retailers to upgrade their disconnected and standalone systems.
Control your inventory across different channels
Before running your omnichannel business, remember to plan how you will gain control over your inventory. It is important to have real-time visibility between your different platforms to avoid any disparity between the inventory levels. NetSuite develops its own Point of Sale (POS) system that can handle this task. The system enables you to let customers purchase regardless of location. You can fully control your inventory level whether your customer can cash-and-carry, home delivery, or pick up in another outlet.
Invest in additional NetSuite integrations
This step can be a life-changing decision for the success of your business. It requires retailers to understand their own businesses and the NetSuite system at a deeper level. This is because NetSuite already offers all-in-one solutions for retail businesses. Store owners often choose an additional integration in case they need a more specialized tool that fits their specific needs.
There is a wide range of NetSuite integrations, including point of sale (POS), CRM, marketing, or automation systems (you can check out our post about the top NetSuite integrations for retailers). Many businesses have used additional integrations and received positive outcomes in sales and customer satisfaction. Although it may require an extra fee to have an integration, the benefits you gain back can be far more significant.
An omnichannel shopping experience is an ideal model for most retail businesses nowadays. Being a leading NetSuite POS integration, ConnectPOS has supported more than 2000 retailers worldwide with excellent click-and-collect features and real-time synchronization. Let us know if you are looking for a POS integration for your NetSuite ecosystem and are interested in ConnectPOS!