Article

Rajneesh Kumar
Rajneesh Kumar 17 May 2018

The Relation Of Product Information Management (PIM) To Retail Success

Today every product has a variety of information, and each piece of product information is vital to influencing buyers. Every buyer now does in-depth research before purchasing. When you deal with tens of thousands of products and their different data types and attributes, a streamlined product data becomes even more critical to ensure a higher sale.

Just think about any online store, and you will get the idea what magic product information produces in the presentation layer of marketing and sales channels.

A product information contains many components and maintains huge catalogs, bringing together the attributes of products with merchandising elements such as images, videos, audios, descriptions, and bundles. These key product facts induce greater product salability across multiple platforms to your customers— while maintaining brand visibility and consistency. When these elements are represented elegantly at the customer-facing end, it can even impact the overall customer buying experience.

Another factor is time-to-market. Retail sector has become a fast paced industry where every day 4Ps of products could be changed and refreshed. You need a process that works like a well-oiled machine to keep your customers updated and engaged— across the board. And, you can better engage with buyers when you have a:

  • Fully centralized system— Define, create, and sync master data of product information across multiple channels
  • Rock solid operational capability— Use master data in day-to-day operations without any delay
  • Analytical capability— Reports and insights to make faster, accurate decisions

Beside that, PIM addresses the dynamic nature of constructing and reconstructing compelling packages and offers in an environment that any user can work in, regardless of their programming skills. PIM platform makes product visualization—easier; workflow management— quicker; mass product updates— faster; and integration with content tools (WCM, DAM, eCommerce, etc.)—seamless.

A flexible PIM/MDM platform enables you to harmonize product information lifecycle, including appending, modifying/updating, deleting, validating and securing access to the product information. With a single source of reliable product information, it makes easy to enrich product information across all touchpoints such as website, mobile app, social, in-store point-of-sale, and physical store. Simply, PIM and MDM have become a crucial aspect of retail success.

The orginal post published here.

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
7 reasons why social media marketing is important for your business

7 reasons why social media marketing is important for your business

Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. And if you are not applying this profitable...

Sharron Nelson
Sharron Nelson 6 February 2018
Read more
Top 10 B2B Platforms to Help your Business Grow Worldwide

Top 10 B2B Platforms to Help your Business Grow Worldwide

Although the trend of a Business to Business portal is not new but the evolution of technology has indeed changed the way they function. Additional digital trading features and branding has taken the place of...

Salman Sharif
Salman Sharif 7 July 2017
Read more
Collection Of The Best Email Testing Tools Online

Collection Of The Best Email Testing Tools Online

Don’t be afraid of email testing. There are many free or freemium tools online that can help you with testing your SPAM score, deliverability and even the rendering of your email. We feature 30 email testing tools in...

Roland Pokornyik
Roland Pokornyik 31 October 2016
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more