Retailers today confront challenges that are unprecedented in other industries. In fact, there’s a case to be made that retailers have experienced more change in the past few years than in the previous 100 years combined. As a result, retailers must adapt to deliver on changing customer expectations.
Those who succeed are able to differentiate themselves, while those that fail become irrelevant. The blueprint for success starts with a technology foundation that links an organization’s front- and backends, provides a single view of the customer, enables delivery of a consistently outstanding customer experience, and is flexible and scalable.
Retail has gone through massive disruption, and the rate of change continues to accelerate due largely to influence of the internet and cloud, which provides consumers easy access to retailers with broad product assortments and transparent prices.
Today, the consumer is in the driver’s seat. They expect information and products at any time from any location, and no longer follow a linear purchasing path they expect a fast, seamless process.
As a result, retail and commerce have become “omnichannel,” combining physical stores, ecommerce, digital marketing and mobile in an interconnected experience. And, business models are shifting as product companies become service companies and service companies become product companies.
These legacy systems are boat anchors holding retailers back on delivering more engaging experiences.
In this hyper-competitive environment, we have identified five pillars to building a unified customer experience based on the experiences of our strong base of retail customers.
Retailers face a choice of continuing to use multiple point solutions, using a traditional back-end ERP and bolting on front-end pieces, or adopting a modern, cloud-based business system. NetSuite pulls together the back-end system of record and front-end system of engagement into a single system.
It enables retailers to deliver on all customer-focused business musts: a 360° customer view, a platform for innovative experiences, advanced order management, and a cloud-based architecture that can scale for unlimited expansion.
To learn more about how NetSuite helps you create a customer centric commerce experience that can power your growth and to receive the complete NetSuite white paper – Contact us today!