Ecommerce Sales are Skyrocketing

  • The COVID-19 pandemic has pushed a record number of consumers to buy online.
  • Even as total worldwide retail sales declined by 3.0%, ecommerce performed above pre-pandemic expectations in 2020.
  • Worldwide retail ecommerce sales posted a 27.6% growth rate in 2020, with sales exceeding $4 trillion.
  • Over the 2020 holidays, online sales in the U.S. were $188.2 billion, a 32.2% increase compared to 2019.

Caught Off Guard by the Events of 2020

  • Not all companies were prepared for the quick shift to online buying.
  • Many brands had to scramble to get their ecommerce storefronts, fulfillment infrastructures and distribution networks put into place.
  • QuickBooks, Sage, Excel spreadsheets and manual processes kept some brands from meeting customer demands.
  • Social distancing, quarantines, shutdowns and remote work all proved especially detrimental for companies using on-premises technology systems.

Measuring the Impacts

  • No 360-degree customer views.
  • Lost sales revenue, inventory stock outs and unhappy customers.
  • Inability to efficiently connect, manage and track orders across multiple marketplaces.
  • Disjointed systems that can’t automatically synchronize activities across supplier, marketplace, marketing and fulfillment networks.

A Turnkey Solution that Solves Persistent Problems

  • NetSuite Cloud ERP manages key business functions on one platform, including financials/accounting, customer relationship management, procurement, inventory and order management, ecommerce and more.
  • Built on NetSuite Cloud ERP, CloudConnect’s turnkey connection helps brands build out and connect to their ecommerce marketplaces, operate more efficiently, and compete more effectively.
  • The solution automates key business processes and provides accurate financial reporting.
  • Brands can focus on product development and market messaging (versus operational procedures and the associated overhead).