Corona sharpens online competition - that's how you enter the arena with irresistible product data
Competition in online retail was already high. But in the newly set up one and a half meter society, it is even more difficult to distinguish yourself from your competitors online. Because on the one hand, the corona pandemic provides more online business, on the other hand, many providers are still being added. In addition, existing physical retailers are shifting their efforts to web sales. This requires maximum attention from everyone for the online customer experience. So irresistible product data is more important than ever.
Since the coronavirus outbreak, webshops have seen their transactions and turnover increase insanely. In the week around Easter, an increase of 70% was measured compared to the same period in 2019. We are only talking about non-food. Increases in the food sector are even more impressive. Delivery workers are working overtime, the Ecommerce delivery times are increasing. Working at home and staying indoors encourages online shopping. When the peak in sales of office supplies, games and fitness products is over - all purchases that can be traced directly to house arrest - the increase will level off somewhat. But no one doubts further growth.
Online offer is increasing, quality of product information is essential
At the same time, the online offer is increasing. This is evident from the increasing number of applications for the Thuiswinkel Waarborg from Thuiswinkel.org. Both starters and medium-sized webshops go for certification. This includes many existing stores, which saw their physical turnover collapse in the past period. In the meantime, the government is letting the reins celebrate, but the shop floor protocols will continue to weigh heavily on the results. So retail focuses on online. Recent figures from Statistics Netherlands confirm the picture of increasing competition. The number of online stores in the Netherlands increased by almost three thousand in the second quarter of this year compared to the first quarter. The counter stands at 51,600 webshops. In short, it is urgent. That is why extra attention for the quality of product data is essential.
After all, product data are the basic building blocks for the ultimate customer experience. And it is the customer experience that will make the difference in the post-corona era. The presentation of your products and the reliability and completeness of your product information are important pillars for your customers and prospects. Consumer studies invariably show that the quality of product data weighs heavily to become or remain a customer. For this reason, the information should not be 'irresistible' (seduce). In addition, product information must be factual, relevant and complete (convincing).
Go for maximum grip on product data
But how do you realize that when your assortment grows and differentiates? If you offer articles through an increasing number of online channels? Or if you sell technical products in the B2B sphere with an infinite number of variants with your own specifications? How do you ensure consistent presentations and the ultimate coherence in the content with which you support and display the information of your products? If you have any doubts about the effectiveness and future-proofing of your existing system, this is the time to think seriously about advanced product data management solutions.
A main condition for optimizing product data is that all information is permanently centrally available and all content is relevant and unambiguous. For this reason, the use of advanced software provides Product Information Management (PIM) you make a lot of profit. Where traditional data management systems are limited to information generated within your own organization, PIM systems go an essential step further. Because with a PIM solution you bring all information and content together. Also those of your suppliers and sales partners / channels.
PIM as a pillar for irresistible product data
Product Information Management systems eliminate the fragmentation of product data and ensure maximum grip. In summary: product descriptions, specifications, images, videos, reviews, suggestions for accessories or alternative products, smart product combinations, PIM ensures efficient management and distribution from one central environment. This enables your organization to use irresistible product data as ammunition in the battle for the favor of the online customer.
Assuming that you have not yet integrated PIM software into your operational processes, a crucial question arises: which system is interesting for my business and what type of investment and implementation process should I take into account? We will elaborate on this question in a subsequent blog. Do you flop with impatience and do you want to make your first preparations to shoot sharply in the post-corona era? Nothing will stop you. Make an appointment for a first expert and without obligation Product Data Analysis.
