With 2020 forcing the need for evolution in countless industries, it isn’t clear who has been disrupted the most, but we can be certain that retail is at least in the top few. With social distancing and other safety measures put in place, customer-facing stores have had to adapt to a multitude of new sales channels while trying to maintain brand consistency and integrity.
With constant connectivity, several digital platforms, and the need for instant satisfaction, many retailers have adapted to the online world and have been there for several years. Smaller businesses, on the other hand, have been cast into the deep end of e-commerce this past year, meaning plenty of new faces joining the omnichannel marketing craze.
With digital expectations already made concrete by frequent online consumers, retailers must get their shopping experience right. When it comes to creating a profitable and enjoyable omnichannel experience, one thing stands to make or break your success – consistency.
Having a strategy is important for a business and you don’t want to forget that when tailoring your digital and brick-and-mortar assets. To put it bluntly, it is up to retailers to gap the consumer digital expectation and retail goals.
One tool that seems to have helped retailers solve their issues is Product Information Management (PIM) systems. But what is PIM? And how does it exactly help with aligning expectations and strategies?
Why Product Information Management (PIM) is Necessary
PIM is a fundamental technology for those looking to optimize their omnichannel success. Coordinating product information into one virtual catalog allows for companies to be in control of their voice, brand, and experience.
As it is abundantly clear nowadays, Google is an integral tool for consumers. Shoppers who engage with retailers online will have:
Looked up product information
Been directed by an advertisement, and/or
Interacted with your social media
Through these steps in a customer’s purchase journey, it is crucial to provide comprehensive information at every point in a format that is easy to interact with. Even if your online sales are a minimal part of your overall revenues, it is most likely growing, especially when considering today’s environment.
While online shopping has been dominated by millennials for most of its existence, COVID-19 has helped influence older generations to the benefits of technology-based purchasing. Top retailers have noticed this change in demographics and have adapted their omnichannel presence.
How does this change affect product information and the need for its accuracy? Well, when it comes to the digital consumer, a product is only as good as the information associated with it. With more users and retailers entering the digital atmosphere, those with consistent and thorough product details will serve useful. Often when information is incomplete or offered in a confusing manner, shoppers will likely search elsewhere.
How to Utilize PIM
Whether you’re using an Excel spreadsheet or a dedicated program, the goal is to centralize merchandise data points and allow for easy retrieval or revisions of product information. In doing so, you will enable your business and your multiple channels to sync their messaging, allowing you to be in control of your marketing wherever your customers choose to shop.
If new items are added or favourites are updated, it should be easy for your office and stores to communicate these details. By using a PIM tool, your organization will become aligned around a single application or document to increase accuracy and close the gap between customer demands and the dynamics of omnichannel shopping.
As well, when creating a database for your product information, it opens doors for your business to further elevate your merchandise and your promotions. From social media posts to rich snippets, your product data will be transferable and easily customized to fit its current use.
It is a Whole New World
We understand that you and other businesses are doing the best they can to keep offering their customers solutions. However, it isn’t always possible to be an expert at everything.
One of the ways that The Reset Team tries to do our part is by offering quick and helpful tips such as Product Information Management in our blog. We want retailers and merchandisers to succeed and we wouldn’t get there if it weren’t for communities such as ours.
If you want more tutorials or tips on how to stimulate your sales, take some time to visit our blog where we offer solutions from storefronts displays to consumer psychology that you can implement to boost your promotions.