Posted by Maggie Miller, Senior Commerce Content Manager
Shoppers are more in control than ever. Smartphones have put everything at their fingertips and given them the power to demand an anytime, anywhere shopping experience.
This isn’t a new revelation for the retail industry. According to the Boston Retail Partner’s 2016 Digital Commerce Benchmark Survey of 500 top North American retailers, 56 percent report they plan to focus on providing a consistent brand experience across channels as a top digital priority.
Retailers also know that they need a different approach to meet these customer demands –one that eliminates siloed, point solution systems and creates a single version of inventory, product and customer information that can be used across all channels.
To unify the experience across channels requires a unified technology platform, yet only 22 percent of retailers have adopted a unified commerce platform. However, 73 percent of retailers plan to have a unified commerce platform implemented with the next three years, according to the survey.
Many retailers consider an order management system (OMS) as the heart of their unified commerce platform. And while many retailers are investing in their ecommerce platforms, overall, retailers are more focused on the omnichannel customer experience and less concerned with single-channel opportunities.
You can download the report to learn more about the digital priorities and initiatives from these top retailers.
Uncorking unified commerce success
International Wine Accessories (IWA) is one retailer meeting customer demand and growing its business with a unified commerce platform from NetSuite.
As a retailer and manufacturer of high-end wine cabinets and coolers, IWA needed a single platform that could support selling to both wholesalers and consumers through its ecommerce site.
After implementing NetSuite’s unified cloud-based commerce platform to manage its financials, inventory and order management, CRM, ecommerce and email marketing, IWA increased revenue 300 percent.
“NetSuite’s hosted platform has been critical in allowing everybody in the company to access the real-time information anytime, anywhere,” said Ben Argov, co-owner of IWA. “It’s so important for our sales effort because anyone who answers the phone, or picks up a chat, or needs to respond to a customer can immediately check to see if an item is in stock, or if an order has shipped. It’s all seamless and integrated.”
IWA experienced other results from a unified platform including:
- Reduced average order processing times from 20 minutes to 20 seconds.
- Real-time access to KPI’s to analyze and respond quickly.
- Better customer experience by utilizing a single source of order, item and customer information.
Watch a recent webinar, Meeting Customer Expectations in the Digital Age, to learn more about how to succeed with a unified commerce strategy, and hear IWA’s journey.