Marketplace models are becoming increasingly popular in e-commerce. According to the EHI Retail Institute, every second online shop sells its goods additionally via marketplaces such as Amazon, eBay or Rakuten. This multi-channel strategy ensures greater reach, a broader customer base and thus more revenue. Perfect data maintenance is only one requirement that must be met. Read why marketplaces are an attractive addition to your own sales channels and why Product Information Management Systems (PIM) act as revenue boosters.
“More than one in two online shops also sells via marketplaces. Larger companies develop themselves into marketplaces or even platforms and invest large sums to offer customers even more services”, explains Lars Hofacker, e-commerce expert at EHI.
Appropriate, correct and consistent product data descriptions for different channels and target groups should be maintained in one place if possible. Because depending on how and where goods are offered, there are different prices and customer approaches. Multilingualism is therefore a “must have” for localized marketplaces, which is naturally supported by a PIM system.
In short, information needs to be of high quality in order to stand out from the crowd. Faulty, outdated or even missing data lead to a discontinuation of the purchase and thus to a loss of sales. Tailor-made shopping experiences, on the other hand, build an emotional bond with the customer. Large marketplace operators, such as Amazon or ebay, have developed guidelines and clear guidelines to which multi-channel providers must adhere.
Product information is generated in many places. The aggregation and enrichment of this data from the different systems is carried out by Product Content Syndication (PCS), one of the essential functions of PIM. It automatically harmonizes product data, regardless of format and source, in a central product data feed. The consolidation creates a “single point of truth”, one of the top reasons for introducing a PIM.
From here, the products are distributed to the marketplaces and have to assert themselves alongside a variety of similar goods.
In order to stand out from the crowd, excellent product information is necessary. We all know that purchasing decisions are made according to different criteria:
The optimal and unmistakable placement of your products on the marketplace is a task that you can perform reliably with the PIM.
All product information is up-to-date and always accurate, so the demands of the marketplace operators are easily met
PIM systems take into account all requirements to fully exploit the potential of marketplaces. They are compatible with modern marketplaces and meet all the special requirements of the big players, even if they are constantly changing. Consistently high data quality is immensely important for sales success.
Poorly structured and low-quality supplier data is a tedious issue that retailers have to deal with. Often a lot of manual effort is required, which increases the error rate. With automation processes and validation rules, our product Marketplace Catalog Portal ensures optimal and smooth data onboarding and thus a positive customer experience.
For detailed information, download the whitepaper.
The benefits are unbeatable, because. .
ensure significant sales growth
There are some advantages, but the strength of a PIM system lies in the coordination and synchronization of product data. With our Marketplace Catalog Portal, the “Single Point of Truth” becomes a miracle weapon. You have it in your hand! We invite you to talk to one of our experts about your requirements for a PIM system. Find out more about our Marketplace Catalog Portal, without obligation and free of charge.
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In addition to ROI (Return of Investment), ROX (Return of Experience) is a metric that should play a big role in e-commerce. Customer experience determines up-selling or cross-selling and also post-purchase reviews. The direct link between customer perception, customer experience and actual behavioral changes is quantified by ROX. The engagement of the employees in the service departments of the companies is also included in the consideration of the ROX. A PIM helps deliver the best quality data across all touchpoints.
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