Is your product data up to scratch? Or are you losing out on sales...
A major influence on whether your products are purchased by consumers or left on the shelf/in the cart is the type and accuracy of information you provide.
Key attributes such as country of origin, allergens, nutrition, size, purpose and more are what today’s shoppers are expecting to find, in-store or online.
Research conducted by Nielsen Brandbank found that there is a big issue within the FMCG industry where many consumers are left frustrated and let down by a brand or retailer as they’ve found that the product they’ve purchased did not clearly list the key attributes, making it difficult to understand what size or variant they are purchasing.
How do you keep your product information current, accurate and relevant so that you are meeting your customers’ needs and maximising your sales potential?
Online shopping and home delivery have intensified the demand for rich and precise product data. Digital shoppers expect the same, if not a better experience when shopping online as they would receive in store.
Recently I began investigating the purchase of a hybrid bicycle online. Whilst you can order a bike and get it delivered online, I wanted to have the opportunity of researching the item before I went into a store. Unfortunately, the variation and the amount of product information and how it was presented across the different sites made my decision-making more complex. Perhaps it was my initial search query that made my life harder, but what did become clear is that whilst some websites had an abundant amount of information, even finding the website was not so easy.
According to an article in Forbes, research showed that 82% of smartphone users consult their phones on purchases they are about to make in-store and 45% read reviews before making a purchase.
Shoppers want in-depth information about products so they can make the right decisions about their purchases. If they don’t find the information they need, they go to the next site or the next store and continue their search.
Firstly, make sure you have a good data management process in place. One that ensures the quality, consistency and accuracy of your product data is maintained.
Too often organisations treat data management as an IT responsibility, or worse still, a one-off implementation project.
GS1 Australia’s National Product Catalogue (NPC) service provides our members with both the data structure and the means of communicating critical data with the major supermarket chains, providing you with structured and standardised product information for comparisons, research and decision making.
Secondly, develop a data management strategy that includes not only your traditional trading partners’ needs, but also the needs of the digital world, i.e. website content that is search optimized and web content for your resellers.
Data Management with GS1 Australia
GS1 Australia has a team of advisors that can work with you to provide guidance, develop and build a data management process, that includes data validation, data cleansing and data collection to support the requirement for accurate and up-to-date product information.
At GS1 we work across more than 20 industry sectors and offer a range of services from simple workshops to more detailed process mapping, tailored to suit your business and your budget.