As a critical challenge in today’s society, data is one of the driving forces behind every company’s activities. The retail world is no exception, and the advent of product data, encouraged by the digitization of consumer habits, is forcing industry players to seize this opportunity to better meet the expectations of increasingly demanding consumers. How can you improve the quality of your product data to stay competitive? Equadis reveals its tips and tricks.
What is product data?
In this digital age, data is accumulating everywhere, all the time. This is a central challenge for many companies, who struggle to manage large volumes of data and often have no dedicated strategy.
For all companies in the retail sector, there is a clear need to better collect, exploit, enrich and distribute product information.
This product data includes :
- Products (marketing information, quality, logistics, etc.),
- Digital assets (images, documents…),
- Prices (permanent and promotional),
- And all specific information linked to the company’s organization.
How to improve the quality of your product data? 6 tips by Equadis
1. Prioritizing transparancy
For several years now, consumers have been expressing the need for greater transparency from brands. Between excessively long ingredient lists, the lack of precision in the product information communicated, and the uncertainty surrounding the marketing of many products, a feeling of mistrust is emerging. It is essential for brands and retailers to rebuild trust and avoid negative consequences for their business.
Especially when you realize that one in four people rely on a consumer application (Yuka, Inci Beauty, ScanUp, MyLabel…) to make their purchase.
With the new consumption habits focusing on health, well-being and the environment, it is essential to prioritize transparency in product conception and commercialization. The lack of such transparency will undoubtedly influence the consumer’s decision to buy.
2. Enriching the content around the product
Aiming for greater quality in product data also means creating more points of reference for consumers. The diversity of distribution channels and the advent of e-commerce are prompting brands and distributors to diversify the ways in which they present their products to the public.
The development of digital technology is also bringing with it new expectations on the part of consumers, and a high level of expectation. As a result, there is a real need today to continually enrich the content linked to the products on the market.
It is therefore recommended to collect and add :
- Videos;
- A variety of photos;
- A fuller, more complete product description;
- Marketing information adapted to different buyer targets and criteria (seasonality, sale periods, etc.).
3. Ensuring product data compliance
The promise of quality product data is only valid if it complies with the expectations of distributors and consumers, but above all with current regulatory standards (GS1, ETIM, etc.).
Compliance brings multiple benefits:
- Accelerating your time to market
- Reducing costs linked to inaccurate data
- Optimizing your operational resources
- Streamlining your relationships with customers and suppliers
- Gaining peace of mind
4. Deploying an appropriate omnichannel strategy
While e-commerce is the focus of a great deal of attention in the retail sector, the culture of the physical store is far from being left behind. This situation is forcing brands and retailers to be reactive on all communication and sales channels.
The ability to distribute the right product information to the right channels becomes a real competitive advantage for players who deploy an appropriate omnichannel strategy. This strategy must logically be in line with the structure and needs of companies, but also with consumer trends.
Ghislain Esquerre, CEO of Equadis, states in an article published in LSA that:
“For many retail players, omnichannel is above all about sales. This is a restrictive vision, since it does not address all the channels used to establish a relationship with the consumer. Focusing solely on sales means neglecting channels of influence and reassurance that are not linked to an act of purchase.
5. Training teams on the importance of high quality data
The codes that govern the vast world of data are often difficult to grasp. Practices evolve rapidly, and it’s not easy to assign a precise definition to quality data.
Furthermore, product data is often scattered across a company. Collecting, compiling, verifying and often correcting the data is a meticulous and time-consuming task. Refering to the quality of product data as a priority for retail companies can therefore quickly become a commonplace if employees are not trained in these issues.
Indeed, an error on an attribute such as an allergen or a price can have dramatic consequences, both commercially and with regard to consumers and the law.
Sensitizing teams to the importance of data quality is not just a formality, but a genuine strategic lever for increasing efficiency. Raising awareness helps teams to better understand data-related issues, fostering a proactive approach and more effective collaboration within the company.
6. Implementing a high-performance data tool: the PIM
In a sector as competitive as retail, guaranteeing excellent information quality everywhere, all the time is a real competitive advantage. This is a complex task for companies who cannot hope to accomplish it manually. Choosing the right tools to manage your data is essential for greater efficiency and, above all, peace of mind!
A software solution such as a PIM (Product Information Management) is ideal for achieving your data goals. This tool offers complete management of product data. It is therefore essential for :
- Collecting and centralizing all your product data;
- Enriching and completing it;
- Ensuring data conformity;
- And distributing them to all channels, anywhere in the world.
Configured according to your needs, the PIM gives you an overview of all your references, optimizing your time and boosting productivity and performance.
Equadis PIM’s strength?
Its complementarity of technological expertise and human support
The only Omnichannel PIM on the market, Equadis is a multi-sector expert in product data. We already support more than 14,000 brands and retailers worldwide in the management and distribution of their product data.
In addition to fulfilling the classic missions of a PIM, Equadis PIM also offers :
- excellent data security on our platform and during internal and external interactions ;
- customization of product data sheets, so you can tailor your strategy to your distribution channels;
- a high level of compliance guaranteed by international certifications (GS1, ETIM) that attest to Equadis’ expertise in data transmission.
- omnichannel data distribution. With over 2,000 connectors, Equadis PIM enables data to be distributed to all distribution channels, both for internal and external software, and in many countries.
- omnipresent human support thanks to the presence of a unique CSM (Customer Success Management) expert for each collaboration. Through his expertise and responsiveness, he brings peace of mind and trust to the Equadis PIM.
To find out more, contact our teams today: