In case you missed the news, NetSuite broke new ground today with our acquisition of Retail Anywhere(opens in new tab) , a leading provider of multi-channel retail(opens in new tab) management solutions. We’d partnered with Retail Anywhere for years, offering retailers a popular joint solution that spans brick-and-mortar points of sale(POS) to call centers to ecommerce over desktops, laptops, smartphones and tablets.
Joint NetSuite/Retail Anywhere customers we spoke with were high on the acquisition. Transition BMX, a multi-channel retailer of bicycle motocross bikes and gear in Edmonton, Canada has been using NetSuite in combination with Retail Anywhere to support track inventory and sales across its website and physical store.(opens in new tab)
“We were very excited to hear that NetSuite had acquired Retail Anywhere,” said Melissa Tomaszewski of Transition BMX.
“Our primary goal was to find a single solution in which POS, ecommerce and accounting would be all tied together and that could give us real-time inventory information,” Tomaszewski said. “With NetSuite, we always have consistency between online and in-store—from a management perspective, we have very good visibility into what’s going on in the business.”
(opens in new tab)Now with the acquisition, integration between the two technologies will tighten further. Based in Paso Robles, California, Retail Anywhere boasts 28 years of deep retail vertical experience, expertise in multi-channel retail operations and best practices in building rock-sold retail management solutions. The acquisition was a natural fit that expands the native capabilities of NetSuite SuiteCommerce(opens in new tab), featuring a dynamic web storefront atop the core NetSuite ERP / CRM application.
It’s good news for retailers challenged to respond to the epic shift in the way that consumers browse, compare and purchase merchandise. We’ve seen strong demand among retailers for a single, integrated cloud solution that is purpose-built to support multiple touchpoints, drive revenues, open new sales channels and expand the business globally—meeting the demands of the multi-channel shopper.
Today’s leading retailers have their eyes on the multi-channel prize. Consumers expect a consistent, relevant experience across all touchpoints, from physical POS to tablet. For retailers, that means giving shoppers real-time inventory information for both online and in-store stock and achieving the 360-degree customer view that’s essential to offering personalized offers and service. Consumers expect retailers to recognize and reward them—and consumers will reward retailers in return.
For instance, the Deloitte 2012 Annual Holiday Survey found that U.S. consumers engaging with retailers across multiple touchpoints were likely to spend 78% more in the 2012 holiday season that those shopping in brick-and-mortar stores only ($1,585 vs. $888). Deloitte’s survey also found that consumers expect in-store associates at the POS to be knowledgeable about products (63%), facilitate a fast checkout (58%) and call out available discounts and offers (56%).
One highlight of the Retail Anywhere solution is its powerful, flexible POS that empowers in-store associates to deliver a superior customer experience. NetSuite Retail Anywhere offers extensive item search capabilities and real-time access to inventory information throughout a retail chain, helping drive sales while satisfying the customer. Built-in CRM functionality captures important customer information such as buying preference and purchase history, which enables future cross-sell and up-sell opportunities for multi-channel retailing.
Learn more at www.netsuite.com/retail(opens in new tab).
-Andy Lloyd - GM of Commerce Products