Alliance Partner
24 Jul, 2019

Netsuite for Retail industry

Netsuite for Retail industry

Retail industry mainly deals with selling goods and services through multiple channels of distribution to earn the profit. Retail industry means retailer buy the thing in wholesale and then sell to the customer with the retail price. Retailing helps the manufacturer’s to reach their product to the needy. Netsuite is a single commerce platform for omnichannel 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 arise the essentiality of Netsuite- Netsuite is essential for the Retail industry because Netsuite provides cloud-based ERP solution for Retail Industry. Furthermore, it supports omnichannel. It focuses 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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