Retailers, dealing with a lot of products, often face a lot of issues during handling of products data. Let us understand what can retailers do to overcome this using a strong PIM solution.
Product Information Management (PIM) System
The Product Information Management (PIM) method offers a single place to gather, manage, and improve the product data, make a product list, and distribute it to your and eCommerce channels. PIM makes it faster and easier to produce and deliver compelling product experiences.
The retail selling business is shifting gears fast and posing new challenges for retailers expecting to reach out to potential clients.
More people are opting purchase from online shops. Conventional retailers are no longer capable of relying on traditional brand advancement approaches to target customers.
It is now essential for brands to make use of multiple communications to reach clients and persuade them to purchase. Else, retailers fall back in the race and get diminished in no time. It’s this simple.
The Retail Challenge
Retailers are increasingly concerned about the dangers that exist outside of their control and would threaten constructive strength. The uncertain challenges of running the retail sector loom huge — technology enforcement and safety, supply chain disruptions, geopolitical events, and more.
The shifting point is one of the main findings of the 6th annual BDO RiskFactor news for marketing Businesses.
Clients, as it turns out, are among the most significant situation for retailers targeting to increase their omnichannel potency. Because each consumer has a one-of-a-kind way to buy, and it’s a clear situation for businesses to navigate every consumer uniquely.
However, the situation is starting to fade as technologies, information, and artificial intelligence grow more readily accessible to merchants — helping to close the gaps of omnichannel transactions.
These are just a few of the significant challenges faced by retailers in the current scenario. Now, let us understand how PIM, a robust solution to govern and streamline product data can help retailers big time.
How PIM Helps Retails Businesses
PIM for retailers is an effective way to increase quality. Say, in a given period; a retailer introduces more than 60 percent of new products with 20% errors because of duplicate data – it affects processes and also the customer experience.
When consumers search, either broad or particular, online or offline, they have to get the item they need, fast. Retailers who produce relevant results at a portion of the time win.
When it comes to omnichannel marketing, product data plays a critical part in driving business. Aside from improving B2B sales, PIM organizations provide for successful consumer marketing. Not only does the PIM organization syndicate the knowledge of data, but it also ensures consistent omnichannel product content.
The strong PIM method is versatile, scalable, configurable, and well-deployed and applied. For these reasons, the PIM should remain the bedrock of any retailer’s knowledge administration and merchandising strategy.
PIM helps retailers reach cross-channel integration, as well as gather and manage the information needed to better understand customers and how they choose to work.
Retailers can get customers with these pictures, individual reviews, and complete product information they want to make informed purchases. Over 60 percent of international Internet users research products online. There can be no inconsistency setbacks for clients who act at pre-shopping.
With PIM, it is easier for retailers to manage global commitment and gift cards, rebates, and pre-order policy.
There is no doubt that this era of digital change has taken with it the growing demand for centralized information management.
Marketing and manufacturing businesses aren’t interested in only buying the software. They need delivery too. Some of the greatest PIMs in this industry are those with the available account management team that continue to assist customers beyond only onboarding.
PIM has developed into a valuable marketing tool for retailers with product knowledge management needs.
If you are a retailer facing difficulty managing products or need to enhance product management, get in touch with flexiPIM to understand how we make your products maintenance simpler.