For most health, beauty, and medical products distributors and retailers, changes in demand patterns and market trends are common and are often tough to predict. Shifting customer preferences, global competition for goods, ever increasing consumer expectations, the COVID-19 pandemic, and technological advancements have contributed to a fiercely competitive business climate.
Connections with multiple online marketplaces, web storefronts, and brickand-mortar retail outlets or pop-up stores with point-of-sale capabilities are essential for growing sales. In addition, seamless connections to back-office ERP applications for order fulfillment, shipping, operational analysis, and reporting are paramount.
Unfortunately, many businesses struggle with limited entry-level accounting applications and rigid legacy ERP systems. These applications stifle growth, restrict automation, and cause siloed and manual business processes fraught with errors. Conversely, modern ERP applications provide a holistic and modern platform to connect front-end commerce applications with back-end ERP features for a real-time, bi-directional system to manage every part of the business for a better customer experience and superior order fulfillment.
This Industry Digest provides an overview of the health, beauty, and medical products industry from a retail and wholesale distribution perspective with insights into industry trends, critical software features needed to compete effectively, and a list of resources for additional information.
