What product information management trends should you be aware of while running an eCommerce site?
The product information management market was booming at $9.88 trillion in 2020. And it’s expected to grow more than three times the size in the coming years. With such figures in mind, it’s fair to say that businesses see the value in automating product information management.
Why? Pandemic or not, commerce is going more digital and omnichannel. Servicing that demand is easier when you manage product information in one place, syndicating it to various platforms. So let’s see what trends help PIM solutions keep up with the market. But first, let’s figure out what exactly information management is.
What Is Information Management in eCommerce?
Product Information Management. Information management is all the processes you go through to collect, alter, and improve data. This has everything to do with your product catalog for eCommerce, so the more appropriate term would be PIM. And what does PIM stand for?
What Were Some of Last Year’s Product Information Management Trends?
1. Demand for SaaS PIM for eCommerce
It makes sense to use cloud product information management software for eCommerce. It allows you to make changes in several places at once. For instance, you are improving descriptions or adding discount prices. With a SaaS PIM, you can synchronize changes in your product catalog across online shops and marketplaces.
2. Employing PIM to provide better UX
Even if you sell on one marketplace or your website, managing data manually comes with inconsistencies and unexpected errors. Using a PIM allows you to provide buyers with the most up-to-date information and avoid most mistakes. In turn, this ensures a better and smoother user experience.
3. Demand for a single source of truth
Errors can pop up when you’re managing your store on one platform. And if you’re using several platforms, inconsistencies can be a regular occurrence. A PIM application provides a sole source of truth, minimizing this problem. Distributing changes from one source also saves you time and effort.
4. Eliminate the manual work with product sheets
To an extent, product information management tools help simplify the creation of a product catalog. But the software also helps automate data syndication. That is the distribution of product-related content to various platforms and marketplaces.
In 2022, we expect to see a shift to improving product experiences. So let’s discuss what trends are going to come.
What Are The Recent PIM Trends?
Trend 2022 #1: Creating a Seamless And Smooth Product Experience
Product experience is the part of the customer journey where consumers interact with your goods, their design, features, and quality. In terms of an app, it’s the contact a user has between logging into a piece of software until they stop using it. This experience goes beyond sheer contact post-payment in terms of selling physical goods.