The criticality of PIM during Holidays
It’s the most wonderful time of the year. Prepare your brand for the holiday rush. Accounting and Consulting major Deloitte has projected alone in the US, seasonal online sales in 2019 will rake in approximately $150 billion. Consumers across the world bite the holiday bait as they are drawn to the festive online store windows, wallpapers and Christmas banners galore. They merrily continue their shopping inside the eCommerce stores, while browsing through several pages of fresh stocks that arrive for the occasion. Besides new product launches, customers also look forward to several promotions, deep discounts and exclusive bundle offers provided by competing for, online brands. Most online shoppers feel shopping and gift-giving during the holidays is better than any other time of the year.
As customers keep checking off their holiday shopping lists, companies ramp up their promotions and marketing campaigns. They add newer products and curate messages to stay relevant and at the top of the mind of their prospects. They need to pace up their reach to several marketplaces to remain competitive. This seasonal blitz makes companies realize they need more than traditional product data management; they need an efficient PIM (Product Information Management solution) to handle their evolving product data needs.
Businesses of all sizes can benefit from efficient and organized product data, as it empowers intelligent batch management and automation capability, and provides thorough control to deliver much richer and fully featured product detail pages. Adopting a smart and easy to use product data management solution like Jasper PIM can empower to easily spin out engaging product experiences. Jasper will help you deliver a front end to your consumers that is worth celebrating so that you make the most of the biggest online shopping season.
e-Marketer forecasts that Cyber Monday is once again expected to be the biggest online shopping day with sales surpassing $10 billion. Here is how an efficient PIM can help your company increase online sales not only during Black Friday and Cyber Monday but also during the rest of the jolly season.
- Reach markets faster – During the holidays if you snooze, you lose! These days customers look forward to brand new product launches and exclusive bundle offers. To timely announce new product arrivals, accurate and succinct product information must be curated and disseminated to different marketing platforms. With the aid of an agile PIM solution you can centralize complete product data related to your holiday product portfolio, highlight featured products, create special assortments, process coupons, announce the start and end dates of marketing campaigns, and keep strong control over fast-moving SKUs.
- Omnichannel optimization – During the holiday season, online buyers spend a significant amount of their total purchase time researching and comparing product offers. Product description becomes eminently important for buyers during this season. A dynamic product data manager like Jasper PIM can help centralize and organize data in a single source of truth. This information can be accessed and used by several departments within the organization. By providing holistic information to online consumers a strong PIM solution can increase brand loyalty and stickiness of consumers.
- Reduce Returns – Research firm Optoro reported that online retailers experience approximately 18 to 35% product returns. Most returns are an outcome of a gap between the product that a consumer expected and the actual product received. Such a gap can be closed or narrowed down considerably by ensuring uniform and consistent information distribution across all sales and marketing platforms. A structured and robust PIM like Jasper reduces product returns by eliminating manual data errors and putting in place validation rules to ensure online retailers deliver complete, precise and error-free product information across different marketing channels.
- Improve product pages – Online shoppers act quickly during the holiday season as they do not want to miss out on offers and discounts that are timed to shortly expire. They need to swiftly find important product information ranging from price, product description, usefulness, quality, reviews, technical specifications, shipping information, and return conditions. To ensure that online prospects are facilitated with all of the above requirements, online retailers need to publish conversion-driven product pages, that can be briskly developed while referencing a sturdy solution like Jasper PIM .
- Simplify product catalogs – During holidays, many retailers create extensive product catalogs that may run into scores of pages. However, consumers have a short attention span and limited time to read and interpret product catalogs, before they can make a purchase decision. A PIM facilitates online retailers to filter the important attributes of products, in the process it simplifies confusing, complex product catalogs and eliminates duplicate product information. The online buyer can make intelligent buying decisions referring to categorized product information delivered by PIM.
- Helps in increasing online sales – A PIM can be integrated directly to backend ERP, Content Management System, site search engines. So, when you dynamically edit and manage product data, images, how-to videos, promotional videos, product catalogs, brochures and categorize product with the PIM, you end up helping your customers to make a sound and prompt purchase decision, that eventually leads to more purchase for the online buyer and an increase in sales for the retailer.
Rule this holiday season with a PIM suited for your online store. Not only will you be able to speedily reach new markets and increase sales, but this will also help you to reduce returns by improving product data and optimizing the way you sell and market on omnichannel retail environment.
Author: Shreyasi Dutta