Challenges and Opportunities in Building Online Product Catalog
While factors such as product pricing and quality can be dealt with, you might have another challenge to face. It is to ensure a great customer experience on your site.
Well-designed and accurate product information is a key to unlock customers’ objections and give them a clear path to purchase your product. And a good quality catalog impacts your customer experience positively and improves conversion rates on your website.
That said, building an eCommerce catalog is not a cakewalk. There are challenges to overcome and opportunities to uncover. Let’s look into some of the major challenges and opportunities in online product catalog building and management.
Challenges Involved in Online Product Catalog Building and Management
Ensuring Data Consistency and Accuracy
Maintaining data quality is a challenge, especially when it involves a large volume of information and multiple selling channels. In addition, data inconsistencies are bound to happen while managing data manually in excel sheets. This might also increase product returns and dissatisfied customers.
Infact, data proves, 30% of customers return their product due to the mismatch in the information provided on-site to the product received.
Constantly Updating the Product Data
The nature of your product might demand continuous data updates. It can be either pricing or a new variation of your product – frequent updates are tiresome to handle. In addition, it can easily lead to mismanagement, especially when you don’t have the right tool and the team to deal with it.
Selling on Multiple Channels
To increase sales, you need to sell your products across multiple channels. But, the challenge lies in the tedious listing process. Every unique eCommerce marketplace has its criteria to update products. you need to tailor your product data to meet their requirements. Working with an expert catalog processing team can help you easily tailor your listing to channels and manage it seamlessly.
Dealing with Supplier Data
Sometimes, suppliers might send data that doesn’t align with your listing requirements. They don’t standardize the information the way you need them to. However, data standardization is important to ensure your customer receives the same information format at every touchpoint. Standardizing the data might take weeks to months when done without prior experience.
Managing the Time-to-Market
The need for product updates coupled with the complexities in the data might increase the span of the process. In addition, this intensity of the work involved might delay the time to market your products online, which can be a challenge for industries such as fashion, lifestyle, and automobile. Therefore, there is a need for constant updates, and the complexity is high.
Analyzing Competitor Pricing
Price comparison has never been as important as it is in today’s dynamic environment. With the increase in products and competitors in the market, it becomes vital to have detailed information about the constant updates around you. Analyzing your competitors is sure a challenge without the right tool. However, an automated approach will be of no use when it’s not coupled with expert manual intervention to improve accuracy in analysis.
Scaling and Catalog Expansion
To increase the possibility of expansion, you need to make sure that you start the process with a clean and well-organized product catalog from the beginning. An unorganized or inaccurate product catalog can be a real challenge when you choose to expand. This can even discourage you from growing your product catalog as well as your business.
Opportunities in Building an Efficient Online Product Catalog
The issues we discussed above have an impact on the quality and accuracy of the data. And to deal with these, you need to adopt eCommerce catalog building and indexing services. It helps in centralizing, managing, and listing product information across all your sales channels and platforms. Efficient eCommerce catalog management –
Enables one to deliver an enriched customer experience – The product content empowers users to make well-informed decisions and gives them the confidence that they are buying the right product.
Create a strong database – Reliable product information and, in turn, the development of a strong product database.
Provides an opportunity to attain desired business growth – Informative and accurate product information help increase revenue and win loyal customers.
Can You Effectively Manage your Product Catalog and Overcome the Challenges?
Of course, it is a tedious job to get all this fixed and manage the data. While you might give up on updating the information as the easiest rescue, still there is a choice –
Get expert support for a complete range of online product catalog building and management services. At Vserve, we have in-house expertise and technology that are perfect for helping you implement the most efficient online product catalog building and management system.
We commit to providing a cost-effective solution that can save your overhead cost up to 60% without compromising your product data quality and accuracy. To reach us to get a free trial
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