For many wholesale distributors and manufacturers, relying on the same traditional channels is no longer a viable option. Recent physical distancing limits and lockdown measures changed the way they could do business, compounding ongoing changes in industry trends. Many traditional wholesale channels—like trade shows or even showrooms—are less viable.
While some have made the jump into eCommerce and the world of online sales, poor online experiences can often mean these businesses lag behind their consumer-focused counterparts.
The largest region in the global retail and wholesale market, Asia Pacific accounts for 39% of all sales. Online buyers now increasingly use eCommerce to buy direct from manufacturers (DFM) which means manufacturers must adapt accordingly.
In light of recent events, it’s not surprising that remote sales have increased significantly. With almost 90% percent moving to this model since COVID-19 started and many changes being made throughout the period due in part to pandemic restrictions on business operations (e..g., hiring freeze), we can expect more companies will adopt these practices long term rather than just temporarily adopting them.
In this new world of business, there are three key areas that NetSuite has identified for wholesalers and manufacturers. These include transitioning to eCommerce or improving your online presence; connecting with customers on social media platforms like Facebook instead of via email newsletters (which many companies still use), And lastly managing inventory efficiently so it can be ordered just when needed without having too much excess stock sitting around collecting dust.
A cloud-based platform is an ideal solution for wholesale distributors and manufacturers looking to move their business online. NetSuite offers a cloud-based ERP system that helps businesses manage their entire operations in one place, from sales and inventory to financials and customer relationships. With NetSuite, you can easily create a custom eCommerce storefront to sell your products directly to consumers. You can also manage and fulfill orders through a single system, ensuring that your customers have a seamless online shopping experience.
The purchase experience can be make-or-break for some; with the majority of customer interactions now moving online, the quality and user interface (UI) design are crucial to retaining customers.
Implementing a centralized customer relationship management system means that all orders can be tracked accurately, regardless of where they’re placed. This also allows businesses to use data gathered from their customers for future transactions and create custom buying portals online with just one click.
NetSuite’s cloud-based ERP system is designed to help businesses in wholesale and distribution make the most of these changes, and transition their business online with ease.
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