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).