Are you tired of juggling countless product sheets and manually updating product information? As an eCommerce retailer, managing your product data is crucial for attracting, retaining, and navigating customers to make the right purchase decisions.
But, with the increasing amount of data and sales channels, the task of managing it all can quickly become overwhelming. That’s where a need for a PIM system comes in. PIM retail is the solution you need to streamline your operations, improve the customer experience, and drive growth.
In this blog, we’ll look into the challenges faced by online retailers and how retail PIM can revolutionize your business. So, sit back, grab a cup of coffee, and get ready to learn about the benefits of PIM retail for online retailers.
Top Challenges faced by Online Retailers
Online retail has revolutionized how consumers shop, offering convenience and a wide range of products at their fingertips. However, with the growth of e-commerce, online retailers face numerous challenges that can impact their success and customer satisfaction.
Here we have listed the possible challenges that retailers may face;
- Global competition
- Inventory management
- Product returns
- Navigating multi-channel marketing
1. Global Competition
With the growth of e-commerce, competition among online retailers has become intense. Many new companies are entering the online market, offering a wide range of products and services at competitive prices.
This makes it difficult for established online retailers to differentiate themselves and maintain their market share.
Facing issues while staying ahead of the intense competition?
Apimio PIM solution can upgrade your online store and help you grow your retail business.
2. Inventory management
Maintaining an accurate inventory is critical for ensuring customer satisfaction and avoiding stockouts, which can damage a retailer’s reputation.
Online retailers must have a system for tracking inventory levels and must ensure that products are in stock and available for shipping. 1
3. Product Returns
When a retailer does not properly manage and maintain accurate product data, it can lead to increased product returns. This is because customers rely on product information, such as descriptions and images, to make informed purchasing decisions.
As a retailer’s inventory and catalog grow, it becomes increasingly challenging to manage large amounts of SKUs and ensure that all product data is accurate and up-to-date.
4. Navigating Multi-Channel Marketing
As the number of marketing and customer communication channels increases, it becomes more challenging for businesses to manage the flow of information.
However, as the number of products (SKUs) increases, manually distributing content and updates across multiple channels 2 can become increasingly time-consuming and prone to errors
How PIM plays a role in benefiting online retailers
We have gathered the tremendous benefits online retailers can gain from implementing retail PIM. Get ready to take your eCommerce business to the next level!
The benefits behind retail PIM’s implementation are;
- It provides an omnichannel customer experience
- It speeds up market presence
- It makes you achieve your ecommerce goals
- It unlocks the potential of seamless data integration and upselling
- It helps you expand your reach with multilingual content in ecommerce
- It boosts your SEO ranking
1. It provides an omnichannel customer experience
Including a retail PIM system in your omnichannel customer service strategy can enhance the customer experience even further. With a retail PIM, you can quickly and easily update product information, such as pricing, availability, and promotions, which can help increase conversion rates and improve customer satisfaction.
Additionally, by making it easier for your content managers to keep your product data accurate and up-to-date, you can free up more time for your customer support team to focus on delivering high-quality support to your customers.
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Apimio PIM is easy-to-use and keeps product data up-to-date, freeing up customer support for better service.
2. It speeds up market presence
In the fast-paced eCommerce retail market, real-time solutions are crucial to success. To stay competitive, it’s essential to have quick and automated updates across all channels. Your future in the market depends on how you respond to the competition.
If you’re still struggling with manual product data management, it’s time to adopt a retail PIM solution. This will streamline repetitive tasks and provide real-time updates, speeding up access to the market. With a single source of truth, all departments have equal access to edit and publish information, ensuring efficient collaboration.
3. It makes you achieve your ecommerce goals faster
With the surge of US ecommerce sales by 37% in the third quarter of 2020, it’s evident that digital commerce is the future of shopping. However, reaching your ecommerce goals can be a challenge.
Without a product data management system, you risk spending countless hours fixing errors and redundant content, leaving less time for selling and growing your business. Your products may also take longer to reach the market, leading to miscommunication due to scattered information and dealing with unmanageable supplier data.
PIM can solve all these problems, enabling your team to focus on innovation and organization. It also meets marketing requirements for better search engine ranking and ensures data quality across all channels.
4. It Unlocks the Potential of Seamless Data Integration and Upselling
Seamless data integration 3 refers to the process of integrating data from different sources into one unified system, providing consistency and a cohesive customer experience across different channels. This type of integration allows retailers to suggest relevant products to customers based on their preferences, resulting in a more personalized shopping experience.
Automating repetitive tasks through real-time updates and solutions helps streamline the flow of information and makes it easier for the marketing and sales teams to provide value-driven services and upsell products. This not only improves the customer experience but also increases revenue for the retailer.
5. It helps you expand your reach with Multilingual Content in Ecommerce
Selling only in your home country is no longer enough, and relying solely on English for cross-border sales can result in failure. With a large number of consumers open to buying from foreign countries, having a multilingual store with content in various languages is essential.
Ecommerce platforms like Magento, WooCommerce, Shopify, and BigCommerce allow for multilingual sites, but managing content may have limitations.
To overcome this, retail PIM can be used to integrate with these platforms and securely store multilingual translations for product information such as pricing, descriptions, and titles.
Using retail PIM, you can then set up unique feeds to syndicate your content to marketplaces such as Amazon, increasing your chances of attracting customers in new markets and countries on your website and other marketplaces.
6. It boosts your SEO ranking
Nearly 93% 4 of all web traffic is generated through search engines, making it crucial to optimize your store for search visibility.
A retail PIM helps improve your SEO strategy by providing keyword-rich content across multiple platforms. The tool helps to ensure data consistency by distributing relevant content with popular keywords on all integrated platforms.
This helps to improve your website’s visibility in search engine results pages, increasing the chances of attracting potential customers to your store.
Investing in a PIM system is a smart business move that can bring significant benefits, including increased sales, higher customer satisfaction, and improved brand reputation.
Are you struggling with a lack of sales, and your business is not growing well? Well, Apimio PIM is the ideal solution for retailers looking to take their business to the next level. Don’t fall behind the competition; invest in Apimio PIM today and watch your business grow!
What to do next?
- Want to learn about Omnichannel Retailing? Head on to our blog to better understand.
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- Contact our support if you have any questions or issues.
Frequently Asked Questions
Yes, a PIM can help online retailers increase sales and customer satisfaction by providing accurate and consistent product information across channels.
1. Improved data quality and accuracy
2. Increased efficiency in managing product data
3. Better customer experience
4. Increased sales and revenue
5. Improved collaboration and communication across teams
- Inventory Management:https://www.investopedia.com/terms/i/inventory-management.asp[↩]
- Multi-channel Marketing: https://www.marketingevolution.com/marketing-essentials/what-is-multi-channel-marketing[↩]
- Seamless Data Integration: https://www.kenwayconsulting.com/blog/how-to-achieve-seamless-data-integration/[↩]
- SEO statistics: https://99firms.com/blog/search-engine-statistics/#gref[↩]