Why 2021 is the year that retailers will need a central product catalog

Why 2021 is the year that retailers will need a central product catalog

After the great ecommerce shift of 2020, many retailers have rapidly accelerated their digital transformation and created a product catalog to organize and centralize their product content. If you aren’t there yet, it is a great time to get there. A complete product catalogue provides all the information you need to make your product sales to your retail outlets. We asked Kristin Naragon, VP of Strategy and Growth for our partner Akeneo, about the crucial role of a product catalog and PIM system. Kristin was the global go-to market strategy leader for Adobe’s Marketing Automation offering before joining Akeneo. Her extensive experience includes leading alliances, strategy, sales, product marketing and go-to market capacities for high-tech B2B businesses, including startups and large corporations.
Kristin explains why 2021 is the right year to establish a PIM foundation.

Maximize your product content by paying attention to the finer points

Sometimes, more is better. When a buyer or consumer needs to order bulk quantities, the old saying “less is more” doesn’t apply. Details are important. Relevant descriptions are essential. Photos and videos of the product help you make a decision faster.

Give your customers polished product experiences

Ecommerce marketers need to prioritize their product experience management (PXM) practice. You must centralize all product information, regardless of whether you are replatforming or expanding your ecommerce platform.

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“You won’t unlock growth if you waste a lot of time and valuable human resource to write the minimum product descriptions.”
Kristin Naragon is VP Strategy and Growth, Akeneo

Syndicate product content faster

If you spend a lot of time and human resources on product descriptions, it won’t unlock your potential growth. Get organized. Get organized. Your centralized product catalogue is ready. Easily enrich all your products and adapt them seamlessly to the right market channel.

Get to know your products and react quickly to changing shopper preferences

Brick-and-mortar stores like Rural King began to sell online pick-up in store (BOPIS), programs to assist consumers who had adopted digital shopping channels out of necessity. BOPIS and similar initiatives will provide consumers with the ideal mix of digital and physical shopping. We believe they will be the new norm, the phygital shopping experience.
It’s all about getting to know your products this year. All of us have been taught to love and know our customers. If 2021 taught us anything it was that if you have a good grasp on your product catalogue, you can quickly adapt to the changing dynamics in your customers’ lives.

“If you don’t have a central product catalog, you are doomed to remain stuck in inefficient, inefficient processes that waste time and money
Kristin Naragon is VP Strategy and Growth, Akeneo

Get rid of the expensive, time-consuming ways you used to do things in the past

You can either create a product catalogue from scratch, or quickly adapt an existing one to fit a new channel. You are doomed to remain stuck in inefficient and inefficient processes that cost time, money and other valuable resources. This will ultimately lead to lost sales, or worse, customers who have that PIM foundation.