Every retailer today wants to provide the customer experience that large online marketplaces are known for. But there is a more compelling reason to mimic them: Customer expectations are being set by these online retail giants and those who can’t match it struggle to grow their business. For these retailers, there is good news. Oracle NetSuite, the cloud-based commerce-ready ERP, fits into the plans of any mid-sized retailer and provides a similar experience. Best of all, retailers can also plug into almost any online marketplace to sell their products using Oracle NetSuite.
Customer experience in the retail industry has become unimaginably sophisticated in the last 10 years. Today, customers have access to vast amounts of real-time information delivered by applications, social media, and websites. They do their research and know exactly when they can strike a bargain. Differentiation such as product selection and promotions are not as effective as they once were. This is because products, prices, and offers can be instantly matched by competition. The pressure this has put on retailers is driving them to look for solutions.
The inability of retailers to meet customer expectations has its roots in the fact that ERP, CRM and e-commerce have been implemented with best-in-class solutions without putting too much thought behind integrating these disparate systems. Result: Product and customer data is spread across in-store POS, in-store applications used by retail executives to access product information, loyalty systems, contact centers and kiosks. These systems must be integrated to fulfil orders and manage customer interaction. Without this, the seamless omni-channel experience that customers expect cannot be delivered.
Today, consumers can conveniently browse on their mobiles or desktops, shop from anywhere (including a kiosk), make payments using a variety of methods, pick up their delivery anywhere, and ensure hassle-free returns. They can interact seamlessly with retailers on instant messengers, email, text, and chat. Store executives too can look up near-by stores for product availability, raise an order, and have it delivered so customers are not disappointed by the lack of inventory.
Oracle NetSuite resolves these challenges and provides a smooth omni-channel experience that customers expect. It delivers a 3600 view of the customer, products (availability, vendors, inventory, product information), and orders from customers. It stitches together the entire experience, from order to fulfilment and returns, showing the delivery status at each stage. The information is transparent for the customer too, leading to exceptionally good experiences and increased loyalty.
The key is to use the expertise of a technology provider that can leverage NetSuite to build a unified platform – fully integrated with other products and solutions. As a global strategic partner for Oracle NetSuite, Wipro has the expertise for flawless NetSuite implementation. In our experience, once the implementation is complete, sales show an uptick and customer satisfaction levels rise. Customers are delighted—they have the same experience that leading marketplaces have set benchmarks for.