Holiday Sales Transacted On NetSuite's Omnichannel Commerce Cloud Platform Grow 42% Year-over-Year to $582 Million
Transactions via NetSuite Point-of-Sale Channels Grow 80+%
SAN MATEO, Calif.—January 29, 2015—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that merchants running their commerce businesses on NetSuite SuiteCommerce transacted $582 million in sales, including online and in-store, during the busy 2014 holiday season spanning November and December, a 42 percent increase over the same time period in 2013. Within these two months, these merchants processed a total 3.8 million orders on the SuiteCommerce platform, a 30 percent year-over-year increase. This significant growth among SuiteCommerce customers far outpaces industry retail holiday sales results which, according to the National Retail Federation, grew at only 4 percent for in-store sales and 6.8 percent for online sales.
NetSuite SuiteCommerce customers also realised growth in several other key performance indicators, such as an increase in average order value (AOV) by 9.9 percent to $155 an order, more than double the industry average of $72. Further, as the trend of online research influencing brick-and-mortar sales continues, the benefits of a unified platform were made apparent by the fact that customers using NetSuite's in-store solutions saw revenue transacted through NetSuite's POS solution grow by 89 percent, while the number of in-store transactions grew 80 percent year-over-year.
"This holiday season, NetSuite's customers demonstrated the power of leveraging a single cloud system to bring together in-store and online customer interactions to deliver on the promise of omnichannel commerce" said Andy Lloyd, General Manager of Commerce Products for NetSuite. "They are proof of the scalability of the SuiteCommerce solution and that our view of a unified omnichannel commerce platform, backed by global inventory visibility, is allowing our customers to serve their shoppers better, even when experiencing increased traffic during the busy holiday season."
Businesses using NetSuite SuiteCommerce benefit from being able to intelligently utilise their global inventory to deliver orders from multiple channels via a single unified cloud commerce platform. The cloud-based integration to their supply chain delivers immediate stock replenishment which helped to avoid customer disappointment over the busy holiday season.
B2C and B2B businesses are increasingly adopting SuiteCommerce's robust, reliable, scalable and flexible cloud-based commerce solution to meet customer expectations to buy, fulfill and return via the channel of their choice. By using SuiteCommerce, businesses can provide customers with consistent, relevant shopping experiences across channels including brick-and-mortar, online, and mobile while gaining a 360-degree view of customers to deliver innovative experiences that are differentiated and more personalised. Companies are relying on SuiteCommerce to run their entire business on a single, unified cloud commerce platform – from ecommerce, in-store and financials to order management, inventory management, customer relationship management and customer support. Please visit www.suitecommerce.com for more information.
Today, more than 20,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud financials/ERP and omnichannel commerce software suites for mid-sized organisations, large enterprises and divisions of large enterprises seeking to upgrade their antiquated client/server ERP and other systems. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
For more information about NetSuite, please visit www.netsuite.com.sg.
NOTE: NetSuite, the NetSuite logo, and SuiteCommerce are registered service marks of NetSuite Inc. Third-party trademarks mentioned are the property of their respective owners.