Why Do eCommerce Retailers Need a PIM Solution?
When it comes to attracting and retaining customers as well as guiding them through the purchasing process, data is a demanding touchpoint. The market value of your product is determined by how well you manage the information about your product on the market. As a major driving force in today’s eCommerce retail world, technology is important in connecting your store with its target customers. Statistically speaking, online retail sales will account for 22 percent of global retail sales by 2023, according to estimates.
As a result, now is an excellent time to make wise decisions and reap the rewards. If you want to achieve your goal, you’ll need to streamline your operations. Data management is the most important and most difficult task for any eCommerce retailer to undertake. Managing zillions of data points on a daily basis is a monumental undertaking. To fine-tune your product portfolio, you’ll need to implement a Product Information Management (PIM) solution..
Reasons Why eCommerce Retailers Require a Product Information Management System
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Maintaining the accuracy and consistency of product data
Improved product experience and the curation of customer-facing content are both made possible through channel-specific data management. What if the style, tone, and brand messaging of your website differ on different platforms and devices? It has an impact on the consistency of your brand’s image.
Using a Product Information Management System (PIM), you can collect, organise, and distribute accurate and consistent data across multiple channels. You can include as many images, descriptions, and extended attributes as you want in order to jump your sales volume.
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To gain quicker access to the market
Customers have come to expect real-time responses. The ability to gain access to new markets more quickly is critical to your success. Real-time and automated updates across all channels are required in order to remain competitive in the market. Your capability to respond to a competitive market will determine your long-term success in the eCommerce retail market.
For those of you who are still tinkering with product sheets that have accumulated, it’s past time to invest in a product information management system (PIM). In addition to automating repetitive tasks and providing real-time updates, a solid PIM solution reduces the amount of time required to access the market. A single source of truth provides users from various departments with equal access to edit and publish information through a single source of truth system.
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Optimisation of the product cataloguing system
A product catalogue that is driven by content simulates the in-store experience and has the ability to influence consumer purchasing decisions. In order for your company to grow, it is critical that you keep your product catalogue up to date with new items. It is necessary for a retailer to have an effective product information system in order to optimize product catalogues in response to market demand.
No matter how many categories and attributes you need to manage, a product information management system (PIM) streamlines the process of expanding your product catalogue through painless data import and export.
4.Improving the efficiency of seamless data integration and upselling products.
Consistency across channels is ensured by the seamless integration of data sources. Furthermore, it aids retailers in providing customers with a contextual experience by suggesting relevant products that match their preferences to the customer. Retailers who want to upsell products to customers must have access to real-time information and solutions. Using robotics to automate repetitive tasks ensures a continuous flow of information to specific channels, assisting the marketing and sales teams in amplifying the value of their services.
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Increase sales on a global and local level.
Product information management (PIM) solutions provide retailers with access to global and regional markets by accurately translating content to influence customers who speak different languages. PIM also allows retailers to switch between currency modes to develop the customer experience and eliminate conversion delays, which is a significant benefit. Every retailer aspires to be able to operate on a global scale.
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To improve one’s search engine ranking
In terms of total web traffic, search engines account for nearly 93 percent. Therefore, optimising your eCommerce store for search visibility is essential if you want to see any traction at all. A PIM tool can assist you in increasing the effectiveness of your SEO strategy by distributing keyword-rich content across a variety of platforms. The data consistency provided by PIM ensures that relevant content containing popular keywords is distributed across all integrated platforms and systems.
Questudio PIM is a one-stop shop for retailers looking to transform their businesses through digital transformation.
The onset of the pandemic has resulted in an increase in the value of the eCommerce market. Digital transformation is no longer an option; it is now required in order to remain competitive in the market. eCommerce and contactless delivery are becoming increasingly popular among customers for everything from groceries to clothing. Therefore, it is now necessary to optimize your eCommerce journey by incorporating relevant products.
The proliferation of the Internet of Things is reshaping various commercial sectors. The shift from traditional commerce to eCommerce has created enormous opportunities for retailers to broaden their customer base and communicate and sell to customers from all over the world, regardless of culture, language, or demographic background.
Progress, on the other hand, was not without its difficulties. It has become a difficult task for retailers to keep up with the growth of online stores and the influx of data. Fortunately, the implementation of PIM solutions has made eCommerce a lot more flexible and streamlined than it was previously.
Through the provision of shoppable content across omnichannel channels, MarketStudio assists retailers in fine-tuning their eCommerce journey and in influencing customers’ purchase decisions. You can now easily organise your information and content in a centralised data repository, which will save you time and money. For more information on PIM and eCommerce success strategies, please contact our experts.
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