In the current world that we live in, the ecommerce industry has introduced a plethora of innovations and advancements to improve the customer’s buying experience. These innovations like one-day delivery, instant money refund, simpler product returns, etc., have created a sense of comfort in the minds of the consumers. While ecommerce companies focus on the art of offering quality service, they are still facing challenges at the back end to maintain quality data and retain their customers. With E-commerce companies growing constantly, there is a growing demand to address these challenges.
One of the significant challenges is the absence of ecommerce product data enrichment. An IMRG report states that 27% of all product returns happen due to incorrect data. If not done correctly, it can affect the annual revenue, spoil upselling opportunities, and dent the potential for new business opportunities. In short, ecommerce product data enrichment is the real game-changer for businesses.
What is ecommerce product data enrichment?
Ecommerce product data enrichment is the process of enhancing your product data with relevant product descriptions, images, and other attributes so that it helps the user make informed buying decisions. Product data enrichment includes including information and attributes in catalogs to help users find relevant products quickly and easily. Enriched product data improves your business’ overall brand image and assists users in making convinced product purchases online.
One of the biggest quirks of enriching your product data is that enriched ecommerce product data turns weak-looking product information into amazing customer-facing product information, thereby converting product searches into product sales. Compared to purchasing from brick and mortar stores, customers purchasing from online websites are entirely reliant on the product data that the ecommerce store owners list on product pages. So, it is up to the Online retailers to present their users with the right product data set. With the help of product data enrichment services, ecommerce retailers have successfully managed to retain their users and improve the customer presence on their ecommerce websites.
Difficulties faced in E-Commerce Business Without Product Data Enrichment
Ecommerce businesses have come a long way in presenting the information to the consumer to make the best buying decision. But without enriching the product data, businesses still have a long way to go in honing the market and staying on top of their competitors. These are some of the significant challenges ecommerce businesses might face if their product data is not enriched.
- Product descriptions may have insufficient specifications that hinder the customers from getting the required information about the product.
- Lack of Product Data Enrichment annoys the customer while searching for products they might require, leaving them unsatisfied.
- Product data syndication to various marketplaces and channels becomes a tedious task as each channel requires different content.
- Inaccurate product data may lead to an increase in the number of cart abandonments, thereby reducing the number of sales for your business.
Is there a solution for product data enrichment challenges?
Product data enrichment may look challenging and tedious, but every problem has its solution. In our case, a PIM software like PIMworks, which has automated product data enrichment capabilities, helps businesses get the best of their business by enriching their product data automatically. With reduced manual efforts and market standard enriched content at their disposal, companies can make more sales and grow their business.
If product data enrichment is the game-changer for an ecommerce business, a PIM software like PIMworks is the real game-changer for improving your sales numbers. Here are some benefits of product data enrichment with a PIM solution
- Improved Product Discovery
Product data enrichment helps in the user’s quicker discovery of the product. Customers can find the product they want quickly and efficiently. With all the required product information present before them, customers get better clarity about the products they wish to purchase, enabling an easy buying experience. Enriching product data with sufficient data about the product reduces the chances of product returns and improves product searches.
- Improved Customer experience
Customers love engaging with websites that have clear product data and provide them with insightful buying decisions. Product data enrichment clears the clutter when it comes to unnecessary and duplicate product information, leaving the consumer exactly what they require. Enriched product data with digital assets and other visual information directly helps the customer’s overall buying experience and increases the chances of more sales.
- Reduced Cart abandonment and improved sales
Enriched content provides a sense of authenticity to the consumer as it generates a better understanding of the product in the customers’ minds. This results in more sales of the product. Enriched product content clarifies customers about the products resulting in lesser cart abandonments. Customers will start engaging better with the website, thereby increasing the revenue for the business.
- Easier Multichannel integrations
As the business grows, so does the number of channels you sell on. Enriching product data enables businesses to present the right product data to the right channel. Every channel has different product data requirements, and enriching the product data ensures market standard product content is displayed across all channels. This ensures businesses maintain their brand image consistently across channels.
The ecommerce industry has advanced so much. Product data enrichment has played a key role in this advancement by helping businesses maintain consistency and generate better profits. Offering quality customer experience and instant fulfillment will continue to be the key. Product data enrichment will help realize this.
But product data enrichment cannot be achieved without an able PIM solution. PIMworks, a simple and scalable PIM solution, helps centrally manage product data and syndicate them across channels. Its automated product data enrichment capabilities ensure that businesses concentrate more on their customers and improve their overall experience. In short, PIMworks helps product data enrichment be the real game-changer for ecommerce businesses worldwide.
