2017 is the year of the retail giant. With more than $353 billion in sales, Walmart recently topped the “Top 100 Retailers” list, created annually by the National Retail Federation (NRF). The likes of Cosco, Walgreen’s, Target and Amazon follow close behind. So, how can smaller brands dare to compete? NRF’s list reveals a strategy for success. Retailers and manufacturers must unite to win with PIM-powered product content.
As we’ve seen, disparate product content systems hold retailers back. They are unable to provide complete and accurate information across channels. That’s where product information management, or PIM, can help businesses in 2017.
Details Deliver Consumer Confidence
Consumers are more confident making online purchases when they grasp the look and feel of the product. They want to know about every feature including size, color and material, as well as product reviews by their peers. Consequently, in-depth product content helps consumers pull the trigger on items they’ve never seen. High-quality product content can even result in trust for new brands. In addition, it’s an opportunity to gain and keep customer loyalty.
Therefore, the answer lies in manufacturers and retailers working together. Manufacturers hold the answers to the true product information. But retailers are often unable to gain access to correct and complete data. This leads to retailers portraying incomplete or inconsistent information. For example, poor quality images can hurt when shared across digital and print marketing materials. Some brands have even suffered from “viral” social media posts around misunderstandings or product mishaps.
Collaborating Through Product Content
To truly work together, product content needs to be housed in a centralized location that can be accessed by all supply chain players. Brands and retailers are selling more nuanced versions of products. And consumers increasingly demand more detail before making purchases. It’s important that both retailers and manufacturers are able to collaborate. This ensures the right information is used correctly across all channels.
Manufacturers and retailers can manage the complex nature of product content and work together effectively with a PIM solution that enables a single view. Without the right technology, product content remains siloed. As a result, inaccuracies and inconsistencies exist from channel to channel.
PIM in Action
Wonder how a PIM solution can really help you win in 2017? EnterWorks customers are already leading the pack. Our PIM software is used by some of the world’s largest consumer brands, industrial manufacturers, distributors and retailers.
These customers use EnterWorks Enable PIM software to import product information faster. They master, manage and enrich product content through enterprise collaboration. And they deliver it in the form required by each selling channel. As a result, the content is persuasive and personalized.