SVP, Corporate Communications
2,000+ NetSuite Ecommerce Merchants Grew Online Revenues 24 Percent to More Than $750 Million in 2010
Seamless Back-Office Integration Fuels Growth by Enabling Targeted Marketing, Dynamic Merchandizing, Global Selling and Real-Time Inventory Management
SAN MATEO, Calif.—January 27, 2011—NetSuite Inc. (NYSE: N), the industry's leading provider of financials / ERP software suites, today announced that the thousands of companies using NetSuite's Ecommerce solutions saw holiday revenues grow an average of 24 percent in 2010 compared to 2009 on a per-merchant basis. That rate is double the 12 percent national increase in US online holiday shopping as reported by comScore. Average number of orders and Ecommerce page hits grew rapidly in the year-over-year period as well. New product features added to NetSuite's cloud-based Ecommerce platform include complex promotions that can increase sales and order size for merchants, real-time inventory management which enables merchants to keep their biggest sellers in-stock, robust global selling tools that allow merchants to reach wider markets, and automated targeted marketing than can reduce cart abandonment rates. Le Cache Premium Wine Cabinets, evVive, and Perfect Timing Brands are just a few of the NetSuite customers which enjoyed outsized holiday growth this season. For more information about NetSuite Ecommerce solutions, please visit http://www.netsuite.com/ecommerce-solutions.
Digital business analysis firm comScore recently issued its annual report showing a record $32.6 billion in U.S. online holiday sales in 2010, representing a 12 percent increase from the previous year. Thousands of companies running their business on NetSuite Ecommerce, however, were able to boost sales at twice the national average pace as highlighted by comScore, and significantly higher than the 2.3 percent increase in 2010 U.S. holiday sales as forecasted by the National Retail Federation. This tremendous growth was fueled by a 21 percent increase in orders and a 31 percent increase in page hits seen by NetSuite Ecommerce companies in a year-over-year comparison. This data set reflects thousands of NetSuite customers ranging from manufacturers and wholesale distributors to pure-play Ecommerce providers representing hundreds of millions of dollars in transactions.
NetSuite's cloud-based Ecommerce platform and the advantages of a single integrated business management suite were key contributors to the gains. Superior self-service options, a 360-degree view of the customer and streamlined order management, are only a few of the superior functionalities that enabled NetSuite customers to grow faster than their counterparts during this holiday season without increasing costs to match. Lower maintenance and implementation costs, due to NetSuite's cloud delivery, helped those merchants retain more of what they earned during the fast-paced holiday sales season.
"While NetSuite has always helped Ecommerce merchants grow quickly and efficiently, even I was blown away that our suite allows customers to grow at double the rate of this already fast growing industry," said Andy Lloyd, NetSuite general manager of Ecommerce products. "These results highlight the power and flexibility the NetSuite cloud offers daily to thousands of companies worldwide."
Among the companies that experienced tremendous 2010 holiday sales growth thanks to NetSuite's Ecommerce advantages were:
comScore press release "U.S. Online Holiday Shopping Season Reaches Record $32.6 Billion for November-December Period, Up 12 Percent vs. Year Ago" dated January 5, 2011
For more information about NetSuite, please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.