Alliance Partner
24 Jul, 2019

Netsuite for Retail industry

Netsuite for Retail industry

Retail industry deals with selling goods and services through multiple channels and uses diverse way of distribution  patterns  to earn the profit. In Retail industry,retailer buys the things in wholesale and then sell to the customer with the retail price. The process of Retailing helps the manufacturer’s to reach out their product to the needy hands. NetSuite is considered as the single commerce platform for omni channel retailing.

Classification of Retail Industry:

    1. Organized retailing
    2. Unorganized retailing


Major segments:

    1. Food
    2. Fashion
    3. Fashion accessories
    4. Telecom
    5. Books and Music

    Retail supply chain contains manufacturers, wholesalers, retailers and finally consumers.

Planning for Retail Industry:

    1. Market analysis
    2. Customer analysis
    3. Competition analysis
    4. Internal analysis
    5. Distribution channels


Functions of Retailer:

    1. Breaking bulk
    2. Creating place utility
    3. Stocking a variety of goods
    4. Providing credit facility to the customers
    5. Providing information to the customers and wholesalers
    6. Estimating the demand for the product
    7. Marketing functions

    Here arising the essentiality of Netsuite- Netsuite is essential for the Retail industry because Netsuite provides a cloud-based ERP solution for Retail Industry as well. Furthermore, it supports the omnichannel. And also focus on omnichannel marketing, mobile payment, and omnichannel supply chain. Netsuite services help to transform the Retail enterprise with a cloud-based omnichannel commerce platform.

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