The COVID-19 pandemic has propelled e-commerce into the spotlight. Even post the crisis, online shopping is likely to take precedence over offline shopping, making decentralisation imperative for the sector. While this represents a real and immediate opportunity to drive efficiencies digitally, it is also a clear indication of the importance of investment in enabling technologies in digital retail.
We are aware how product information is one of the most crucial factors influencing purchase decisions in e-commerce. While data has become a fundamental part of e-commerce, managing this data and utilizing it to one’s benefit is progressively getting harder. Integrated online and offline trading system and multi-language, Omnichannel environments and multi-store set-ups all have exceptionally complex information management needs. PDM assures data integrity in all these environments and systems.
A PDM application features a unified virtual location for data storage and management to yield enhanced data quality and accuracy which in turn can boost purchase decision. Optimizing and managing product data using a strategic and updated Product Data Management System or PDM can do wonders for e-commerce retailers.
Here are top 5 reasons why every e-retailer in the fashion industry needs to exploit the benefits of a PDM:
Better Visibility
While retailers have to deal with huge loads of data, the mobile consumer on the other hands detests anything that is time consuming. As mobile devices become the most popular medium of commerce, he wants the right information at the right time. When our products are properly categorized and stocked with searchable content with relevant keywords, it helps in staying on top of searches.
Enhance Customer Experience
Modern consumers have this tendency of researching tons of reviews, features, product qualities, recommendations, etc., before making a purchase. What if they find all the relevant information accurately on the product page itself? It will result in a quick and seamless purchase with a great shopping experience that they would certainly want to share with their friends.
It Saves You Cost, Time and Efforts
Data is the new currency in the modern world. A centralised data management system that helps in controlling and analysing the information that comes from various sources will not only boost efficiency at reduced time and effort but also aid businesses to nimbly respond to trends and demands of the market. There will also be no need of managing information to different systems since the PDM will be the main source of product information that feeds the other systems when needed.
Empowers Staff & Boosts Productivity
Data is at the heart of any e-commerce operations and almost everyone involved in a digital retail organisation needs access to data, especially the sales and marketing department. With a PDM, the data is centrally located and can be accessed by anyone anywhere. This will ensure that everyone can respond to technical questions decisively and is well informed and equipped to sell products.
Boosts Sales & Helps Growth
A highly collaborative and well-aligned PDM system can boost business in more than one way. With access to all the sales data, e-tailers can utilize it to gain consumer insights and exercise new strategies and gain new leads. The available data can also be analysed to identify products that perform and those that don’t.
