This article explores the challenges of omnichannel retail and how product information management systems enable retailers to overcome said challenges.
Buzzwords come and go in this industry, but ‘omnichannel’ is one of the rare ones that will stick around for a long time to come. Quite frankly, if retailers aren’t yet operating in an omnichannel way, they are already way behind their competitors. To be successful in today’s retail world, it’s not really possible to not be omnichannel.
PIM (Product Information Management) systems play a critical role when it comes to omnichannel retailing, and this blogpost outlines why.
Challenges in an Omnichannel World
There are many challenges that retailers tend to struggle with in today’s retail landscape. These include:
Consistency Across Channels
- Ensuring uniform product data across online and offline platforms
- Difficulty in maintaining up-to-date data across multiple channels and platforms
Real-Time Data Updates
- The need for immediate updates on product data, prices and specifications
- Real-time synchronisation to avoid customer dissatisfaction
Complexity of Product Data
- Managing diverse and complex product information including descriptions, prices and assets
- Addressing the challenge of consolidating data from various sources
How does a Product Information Management system address these challenges?
A good product information management system addresses the above challenges by centralising all product data, increasing efficiency and enhancing customer experiences.
Centralised Data Management
PIM systems centralise product data, ensuring a single source of truth. With Origin from Retail247, it’s easy to update a lot of product information at once, across all channels, ensuring that product data is the same everywhere and every time.
Enhanced Customer Experience
It’s pretty simple to understand why consistent and accurate product information enhances customer trust and satisfaction. If the product assets reflect the product itself inaccurately, customers will be disappointed when something different arrives on their doorstep. Including data like fabric composition and measurements makes sure customers have all the information they need, and returns rates will remain low, increasing customer loyalty and improving the buying experience.
Efficiency and Productivity
Origin product information management system eases processes in order to reduce manual errors and save time. LK Bennett estimate that they save 20 admin hours per week, which doesn’t include the time Origin saves in other areas of the business. Streamlining workflows improves day to day workloads, and also improves team collaboration.
Our Clients
- AllSaints
- Crew Clothing
- Lifetime Brands Europe
- LK Bennett
- Piglet in Bed
- Radley
- Reiss
- SGS Engineering
“Origin has greatly elevated the ways of working for multiple teams across the business by streamlining various processes and vastly improving business efficiencies. Having a close-knit relationship with the team and our business consultants has enabled us to be dynamic and proactive when prioritising workflow.” – Sarah Middleton, Business Analyst at Crew Clothing
Product information management systems (such as Origin) enable retailers to deliver a seamless omnichannel experience to their customers and shoppers, ensuring brands can meet modern customer expectations. To learn more about Origin and find out how it can fit alongside your existing technological landscape, get in touch. We’d love to hear from you.
