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Why Your Business Needs Product Information Management for Success

Tali H Bezalel

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September 28, 2021

Headlines proclaiming that “personal shopping experiences are the future of retail” are everywhere these days. Yet, less often do we see discussions on how brands and retailers can effectively manage their product information to transform the customer journey in this new era.

Forward-thinking brands and retailers who want to stay ahead of the competition understand that mastering product information management is crucial. An effective approach to managing product information and adding metadata to your catalogue ensures that your product data is complete, consistent, and up-to-date at every stage of the process.

When product information on an online store appears inconsistent or incomplete, it’s often due to the challenges of manually managing and tagging all products uniformly. Leveraging technology to automate the tagging and management of product information through a PIM (Product Information Management) system enables you to handle data associated with your product lines efficiently, offering customers a consistently engaging and relevant shopping experience.

Intelligent systems that enrich and manage your product information offer substantial benefits, boosting profitability in today’s competitive consumer and B2B markets.

What is Product Information Management (PIM)?

Product Information Management (PIM) is the process of collecting and managing all necessary information about a product—from descriptions to images—in one central place. Consolidating your product information effectively streamlines every step of the marketing process, saving valuable time.

An intelligent PIM system enhances efficiency in updating existing product information and adding new products to your online platforms and sales channels. It ensures that customers have access to accurate product information whenever they’re ready to purchase, no matter the sales channel.

Why Your Business Needs Effective Product Information Management

Rich product metadata helps your company reach more customers by providing the information they need to make purchasing decisions. Implementing a PIM solution offers five major benefits for managing product information:

  1. Establish a Single Source for Product InformationProduct information often originates from various departments and tools. Instead of manually tagging or extracting data from multiple systems and creating cumbersome spreadsheets, a PIM system consolidates raw product specifications, marketing copy, and creative assets. Data can be automatically imported from sources like Enterprise Resource Planning (ERP) systems or added directly into the PIM. Advanced image recognition technology allows you to scan product images, identify items, and assign detailed metadata based on visual attributes.The primary records of your products in the PIM system are then exported to populate your e-commerce website, marketplaces, and social media shops quickly. Any corrections, updates, or adjustments are applied across all product lines and sales channels.
  2. Personalise the Shopper ExperienceThe more detailed your product metadata, the better you understand the products your customers interact with. A PIM solution can provide more accurate recommendations compared to traditional personalization engines by focusing on detailed product attributes rather than relying solely on third-party data or “look-alike audiences.” This approach enhances data depth without compromising privacy.
  3. Accelerate Your Time to MarketWhether launching a new product or sales channel, your time to market impacts when you start generating revenue. PIM solutions streamline product information management, allowing marketing and e-commerce teams to access data directly from the PIM system rather than waiting on ERP requests. This reduces lengthy email threads and confusion about where to find the most current information. Integrations with other marketing technology systems further reduce busywork.Automating workflows minimises manual data entry, enabling teams to launch and maintain new products and sales channels more quickly.
  4. Enhance Quality and Consistency of Product InformationIncorrect or incomplete product information can lead to lost sales and increased returns, significantly impacting profits. PIM solutions enable you to ingest, add, and review product information in one system, improving data quality and consistency. Changes made in the PIM system are published across all e-commerce platforms, helping to build your reputation as a reliable brand.
  5. Develop More Effective Marketing StrategiesAccording to Salesforce’s State of Marketing report, 84% of customers say the experience a company provides is as important as its products and services. With today’s customers using multiple channels, providing a unified experience across touchpoints is crucial. A single source for your product information enhances the user experience by ensuring accurate, current information at every stage of the purchasing process.

Get Started with PIM Today

At Selectika, we’ve developed an intelligent auto-tagging system that pulls basic information from your product catalogue and enriches it with additional data. We use image recognition and NLP to add rich attributes to your product information, learning the semantics and expectations of the shoppers engaging with your brand.

Why Effective Product Information Management (PIM) is Crucial for Fashion Retailers

personal shopping experiences are often hailed as the future of e-commerce. However, few brands and retailers discuss how to manage product information effectively to enhance the customer journey. As consumer expectations evolve, mastering Product Information Management (PIM) is becoming essential for fashion businesses.

Forward-thinking retailers understand that PIM solutions are key to staying competitive. Managing product data with accuracy and consistency helps deliver a seamless shopping experience. Brands that embrace this approach can build stronger relationships with customers and boost profitability.

What Is Product Information Management (PIM)?

Product Information Management (PIM) refers to the process of gathering, storing, and managing all product-related information in a single centralised system. This includes product descriptions, images, technical specifications, and marketing content.

With a PIM system, fashion retailers can streamline the entire process. From adding new products to updating existing product details, PIM enables better control of your product data. This ensures customers receive accurate and relevant information across all sales channels.

Why Your Business Needs a PIM System

A well-implemented PIM solution offers several advantages. Here are five key reasons why your fashion e-commerce business should invest in PIM:

1. Centralise Your Product Information

Product data often comes from multiple departments. Without PIM, managing this information can be time-consuming and prone to errors. A PIM system consolidates all product details into one central hub. This eliminates the need for manual tagging and updating across various platforms.

Advanced features like image recognition technology help identify items from photos and automatically generate metadata. This increases efficiency and ensures your product data is accurate, consistent, and up-to-date. Any updates made in the PIM system automatically sync across all sales channels, from your website to marketplaces and social media shops.

2. Personalise the Shopping Experience

Personalisation is crucial for engaging modern consumers. The more data you have on your products, the more personalised the shopping experience can be. A PIM system can improve product recommendations by focusing on specific product attributes, rather than relying solely on third-party data.

This deeper level of personalisation helps you meet consumer expectations. It also allows you to create tailored experiences based on individual preferences, improving conversion rates and customer loyalty.

3. Speed Up Time to Market

Time to market is essential for staying competitive. With a PIM system, your marketing and e-commerce teams can access product information quickly and accurately. This reduces delays and simplifies the process of launching new products or expanding to new sales channels.

PIM automates workflows and integrates seamlessly with other systems. This helps reduce manual work, allowing your teams to focus on more strategic tasks. As a result, you can bring new products to market faster and more efficiently.

4. Improve Product Data Quality and Consistency

Inaccurate or inconsistent product information can lead to frustrated customers, lost sales, and increased returns. PIM ensures that your product data is correct, consistent, and readily available for all your online platforms.

With a centralised system, changes made to your product information are immediately reflected across your entire e-commerce ecosystem. This ensures that your customers always have access to the latest, most accurate product details.

5. Optimise Your Marketing Strategies

Effective marketing relies on accurate and consistent product information. With a PIM system, you can ensure that your customers receive a consistent experience across all touchpoints.

A unified source of product data helps you deliver targeted, relevant messaging to your audience. Whether through email campaigns, social media, or your e-commerce website, your marketing efforts will be more effective, leading to higher engagement and better ROI.

How Selectika’s PIM System Can Help You

At Selectika, we offer an intelligent auto-tagging system designed specifically for fashion retailers. Our solution pulls basic product data from your catalogue and enriches it with additional attributes. Using image recognition and Natural Language Processing (NLP), our system automatically adds rich metadata, improving the depth of your product information.

This advanced technology helps your brand meet customer expectations, creating a more engaging and personalised shopping experience. Whether you’re launching a new collection or expanding to new channels, Selectika’s PIM system ensures your product data is always accurate, complete, and aligned with your business goals.

Start Streamlining Your Product Information Today

As the fashion industry becomes more competitive, managing your product information effectively is more important than ever. PIM solutions like Selectika can help you centralise your data, improve customer experience, and speed up time to market.

With Selectika’s AI-driven technology, you can take your fashion brand to the next level. Start today and experience the benefits of a streamlined, efficient PIM system.