Why Catalog Management in eCommerce is Important?
In today’s retail world, the importance of incorporating and utilizing a reliable eCommerce catalog management cannot be over-emphasized. As you probably battle your way to turning your store into a raging success, a well detailed and structured product catalog management might just be all you need to attain victory.
And why is this so?
By having an effective product catalog management that caters to the distribution of adequate information for your customer’s different chosen products, you can unlock doors to many seeming opportunities and constantly keep yourself afloat of the market competition.
As a case study, in an article published in Harvard Business Review in 2016, a yearly cost of poor quality data in the US alone amounts to $3.1 trillion. That’s the extent to which poor data can damage business revenue. But the good news is that you can avoid such fate.
The more reason why, in this article, we will be discussing the importance of having an effective eCommerce catalog management. And in addition, how to outsource catalog management service.
But before we dive in yet, let’s quickly zoom in and take a look at some of the challenges often faced in the process of executing an effective eCommerce catalog management.
Challenges of Catalog Management in eCommerce
The challenges in eCommerce catalog management can be enormous, for many different reasons:
- In eCommerce catalog management, it is very easy for your product data to get messy and inconsistent especially if you are a multi-channel seller.
- You can decide to settle for sub-par product information if your catalog management system is not properly outlined, a result which can tell on your sales and customer satisfaction.
- Having the need to update your products constantly can pose a serious challenge if you are operating on multiple channels.
- In eCommerce catalog management, you will have to deal with variations and misspellings in supplier data. Because suppliers have little or no regard for effective catalog management.
- Also, the size of the catalog with respect to the number of products and SKU’s
- The freshness of data: how recent is your data? Data is good but only if it is recent.
The Importance of eCommerce Catalog Management
Maintaining an efficient eCommerce catalog management is key in building up your business. In fact, it is the most fundamental aspect of a retail enterprise. If you can commit the time, the effort, and the resources required to properly manage your product catalog, in the end, you will be glad you did.
Below are some of the reasons why we think eCommerce Catalog Management is so important:
Omni-channel Experience
Product Catalog serves as a building block of omnichannel strategy. Consistent catalog management system across different channels helps your customers to establish a strong connection with your products. Therefore, they can easily recognize your fingerprints in the product listing without having to check for the seller info. Going in-between channels like this, will strengthen your overall omnichannel experience and helps boost your strategy.
Improve customer experience
In a survey conducted among online adults site in the US, 30% of them said they would consider buying a product from a totally unknown retailer that has detailed product information than one that doesn’t. This clearly affirms that good customer experience is key in a retail business. By creating and imbibing a rich and detailed product information service that is readily available, easy-to-find, and user-friendly, you can be sure of beating your competitors hands down.
Create rich and consistent product information
One of the goodies of product catalog management is that you get to maintain rich and consistent information all across your sales channels. With access to quality data, you would have conquered inconsistency in spellings and information gathering which happens to be a common plague in product listing. Also, sooner or later, you would have had product information that is fully-attribute to you.
Improve business growth
There is no denying the fact that product catalog management helps create a solid foundation for business enlargement. When you have a brilliant eCommerce catalog management strategy, you can easily expand your business and dominate the market. As a matter of fact, with a proper structure in place, you can easily add extra SKUs without feeling overwhelmed or consumed.
How to outsource catalog management service?
Competition becomes rife across many different retailers. So, there is a need to fast-track the pace in which eCommerce catalog management is being created. To do this, you need an extra pair of hands and that’s why Vserve Solution is your go-to service. At Vserve Ebusiness Solution, we do the grunt work so that you can do the great work you’ve always nursed. We can help you wow your customers at a price that isn’t above your chest. By partnering with Vserve Solution, you are on your way to having an unmatched and unbeatable catalog management record.
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