Product Information Management at the heart of eCommerce
Unlocking the potential of integrity and agility in the distribution of product information is a core consideration for almost any online retailer. Without an efficient product data management system in place, this has proven impossible. Furthermore, the approach to implementing such a product information management system (PIM) can give you a competitive edge in the increasingly fierce and fractured digital market.
Methods
Customers more than ever want reliable, quick information exactly about the products they are searching for. Actually, top reasons why customers quit their purchase besides costs and delivery time are missing information about the product, reviews or the company brand information.
Hence, the management of product information becomes a strategic enabler for retaining customers, be it in eCommerce or conventional stores. PIM cannot online streamline your employer’s workload and your company’s product data but produce exact, complete, and personal information that appeals to the consumer’s emotions regardless of the selling space or time. Hence, the product information you generate will form the basis of a quality customer experience.
Improved Product Information has a positive impact on online sales of 6 to 36% on average, depending on the product category.
Forrester, US Cross-Channel Retail Sales Forecast 2014-2018
30% of product information used in catalogues by retailers is incorrect.
Study by A.T.Kearney
Agile Data Modelling
Applying the right tool and right techniques allows for product information to be a true leader of storytelling. It is therefore important to understand that PIM systems should be focusing solely on product information and not “hot-data”.
| Type of data | PIM | Other application |
|---|---|---|
| Marketing data (descriptions, brand, etc.) | X | |
| Technical specifications of the product | X | |
| Base price (recommended price) | X | |
| Product-related media | X | |
| Complex calculations (discounts, costs, supplier negotiations, sales prices) | X | |
| Real time inventory | X | |
| Graphic data specific to a channel (e.g. website graphics) | X | |
| Execution data (logistics, warehouses...) | X | |
| Product life cycle (BOM) | X |
Results
