The document discusses how a product information management (PIM) system can help retailers manage product data across sales channels. It notes that maintaining consistent product data is challenging for retailers today. A PIM system allows retailers to centralize product data from all sources, standardize formats, and automate publishing to different channels. This helps improve customer experience and sales potential by ensuring accurate data is consistently presented everywhere. The document advocates that a PIM system is necessary for retailers to efficiently manage product information across an omnichannel business.

1. SALESWARP.COM
How the customer is driving the need
to deliver coordinated product data
across every channel.
SALESWARP WHITE PAPER SERIES | PRODUCT INFORMATION MANAGEMENT
PRODUCT DATA MUST-HAVES
TODAY’S OMNI CHANNEL RETAILER
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Today’s retail landscape has grown increasingly complex due to
the growing number of sales channels consumers are shopping on,
including in-store, online, mobile devices, tablets, even over the phone.
Consumer expectations have also changed with the evolution of an
omni channel experience, putting even more pressure on retailers to
help consumers make informed purchase decisions through coordinated
and rich product data presented across all sales channels.
With a product information management (PIM) solution, merchants can
source, optimize, and enrich product data to deliver a unified shopping
experience. A PIM solution is crucial to establishing consistency and
coordination across channels. These solutions create a single source of
data for all product information from all sources, including suppliers,
drop shippers, and manufacturers. The consolidation of all data into
one system allows a retailer to quickly and effectively list products
across any number of platforms and channels, all while reducing costs
and improving time to market.
In the past, only large retailers focused on PIM, and in most cases, used
a stand-alone PIM system. Today, even as the need for a modern PIM
solution has grown to encompass both large and small businesses,
retailers are slow to execute PIM efforts. New and veteran retailers
are still using antiquated processes such as spreadsheets and other
home-grown work-arounds to complete such a mission critical task
because that is how it has always been done.
INTRODUCTION

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The retail industry is growing and evolving rapidly, and merchants that don’t want to be
left behind need to adapt alongside it. Archaic tools and technology that hinder effi-
ciency in PIM efforts simply will not cut it and could wind up costing retailers in terms of
operational expenses, man hours and customer satisfaction.
One study conducted by Ventana Research found that almost half of retail organizations
struggle with maintaining a single version of product information across channels. This
illustrates a significant gap with current PIM processes compared to where many retailers
want to be. This could explain why as many as 33 percent
of polled eBusiness professionals told Forrester Research
that investment in a PIM solution would be a top priority
moving forward.
This white paper will discuss some of the challenges of
managing product data while exploring the ways merchants
can use a product information management system as a valuable strategic asset
for delivering clean, coordinated product information to every customer, across
every channel.
Almost 50% of retailers struggle
with maintaining a single version of
product information across channels.

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WHY CONSISTENT PRODUCT
INFORMATION IS CRITICAL
With new trends such as showrooming and webrooming, it is clear consumers like to do
their research before completing a purchase. GE Capital Retail Bank’s second annual
Major Purchase Shopper Study found that as many as 81% of consumers head online to
do research before making a big purchase, a figure that has grown 20 percent year-over-
year. Of those consumers who complete their due diligence, as many as 41% of consumers
were more likely to go through with a purchase. The bottom line is that customers are
more willing to buy from a retailer if research has confirmed it is the right decision for
their needs, wants and price range.
Product information is the cornerstone of this research, serving as a base for all the
pre-purchase, knowledge-hunting that customers do. Consumers may wind up reading
reviews or asking friends and family members about products they’re interested in
somewhere down the line, but it all starts with
the product information displayed at every
customer touch point. Because product data
plays such a large role in the decision-making
process, retailers must manage and monitor
every piece of product data that is pushed
online and in-store.
As a result of accurate, coordinated product data spread across sales channels, retailers
will improve the customer experience, reduce return rates, and improve sales potential.
“41% of consumers were more likely
to go through with a purchase after
completing their due diligence.”

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PRODUCT INFORMATION CHALLENGES
Despite the importance of PIM in successful retail and eCommerce operations, many
retailers have found it difficult to manage effectively. Leveraging multiple sales channels,
drop shippers, suppliers, and even using physical stores as fulfillment centers has become
more commonplace in the modern retail environment. This means that many merchants
are tasked with constantly managing product information across a variety of sources and
sales channels. Failure to keep data updated could result in a loss of sales, while inaccu-
rate information could damage customer satisfaction and the perception of a brand.
There are a number of challenges retailers often face when trying to improve product
management. Here are some of the biggest issues:
1. PIM is time consuming and complex
If retailers are selling across a variety of channels, they need to ensure all of their
product information is coordinated and accurate. In
the retail space, time is money, and retailers need
to be able to source, standardize, and publish data
as quickly as possible to expedite a product’s time
to market.
Retailers can have tens of suppliers and even more
drop shippers, even as a small business. Sourcing
product data from all these different locations often results in inconsistent
formatting, incomplete fields and, in many cases, duplication of data.
Worst of all, it typically involves a very time-consuming, manual process of
cleaning the product data and preparing any additional information.
2. Catering information to third-party marketplaces
Online marketplaces such as Amazon and eBay attract millions of shoppers every month,
according to data from comScore, making them a highly valuable asset to many retailers.
However, in order to sell on these marketplaces, there are requirements that differ from
how retailers sell on their own website. Modifying product data for these requirements and
managing store-specific sets of data can become a very complex and time-consuming
process.
In the retail space, time is money,
and retailers need to be able to
source, standardize, and publish
data as quickly as possible to
expedite a product’s time to market.

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3. Discrepancies can be game-changing
Discrepancies with product information between channels can cause a lot of confusion
for both customers and retailers. Questions about products can lead to more calls (and
thus, more work) for customer service representatives and negatively impact site-browsing
behavior, not to mention customer loyalty. This is especially apparent for images, product
attributes and pricing across offline and online channels. A customer does not want to go
in store to find a bag that isn’t quite as brown as the image online, is $50 more expensive
or isn’t even in-stock.
4. Dealing with multiple back-end solutions
Merchants without a centralized source of data often
find their product data dispersed across multiple
systems that have been patched together. This
causes retailers to lose track of their product data
and increases the likelihood of duplication and in-
consistencies. Having a greater number of SKUs or
a specialized catalog only magnifies this obstacle.
5. Dealing with legacy solutions
The aforementioned problem is even more pressing if merchants are using manual
processes or legacy systems not specifically designed for the retail space. For example,
some merchants opt to use spreadsheet software (such as Microsoft Excel or Access),
which doesn’t provide enough visibility across departments and is prone to input mistakes.
Conversely, legacy systems are often outdated and have complicated APIs or interface
requirements that make even common tasks like managing product kits and configurable
products quite difficult.
The goal of PIM is to instill trust,
confidence and brand loyalty within
customers by delivering the omni
channel experience they expect.

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UNDERSTANDING PIM WORKFLOW
In an ideal world, where merchants aren’t hindered by time, resources and inflexible
legacy solutions, what would PIM look like?
The goal of PIM is to instill trust, confidence and brand loyalty within customers by
delivering the omni channel experience they expect. Accurate and centralized product
information is core to achieving that objective. From a business perspective, better
product information management also results in reduced call center activity, improved
sales and product margins, a reduction in the
number of systems and resources managing
product data, increased efficiencies, market
differentiation and brand loyalty.
To achieve those goals, retailers have a few
specific needs that must be fulfilled, both with
their product data and their PIM solutions. Product data must be informative, complete,
accurate and rich in content. In particular, it’s important to have extensive product
information that includes:
• Unique descriptions
• Quality images
• Inventory counts
• Content optimized for search engines
• Customer reviews
• Complete list of attributes
• FAQs
• Related products
33% of professionals believe an
investment in a PIM solution is
a top priority.

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This data may be pulled from a content generator, consolidated from multiple suppliers,
or optimized by an in-house merchandising team.
With a PIM system, retailers gain greater control over their information, helping them to
centralize data from multiple suppliers and automate the process of standardizing and
updating catalogs. Regardless of the channel through which an item is being sold, a PIM
will be central to modifying and adding new products.
One of the greatest assets a retailer receives with a PIM system is automation.
Automation empowers retailers to quickly update a product catalog with new product
data received from suppliers and distributors. Some PIM systems take it one step further,
using rules and mapping tools to automatically clean up and standardize the imported
product data. When product information is automated, merchandising teams become
more efficient and are able to quickly proliferate product
feeds to everywhere they sell online, which can be a
significant advantage when it comes to improving time
to market and reaching more customers.
One of the greatest assets
a retailer receives with a
PIM system is automation.

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WHY PIM SOLUTIONS ARE A LYNCHPIN FOR
SUCCESSFUL PRODUCT USAGE
If product information plays such a pivotal role in selling products and improving
the customer shopping experience, then PIM solutions are critical to successfully
utilizing all available data. Currently, many retailers either don’t have an effective
PIM system or use a legacy solution that cannot keep up with the demands of modern
retail. Outdated and archaic systems in particular can be difficult to move on from,
as many different operations are typically tied
to them.
Still, PIM represents a huge opportunity for
retailers to really improve the way they operate
and gain a competitive advantage over their
competitors. PIM tools will not only help
merchants create a rich product catalog, it
will also maximize their exposure in new markets.
As Ventana Research found, PIM systems helped nearly half of retail organizations
eliminate errors pertaining to their product information, while 44 percent said their
dedicated PIM solution improved sales potential. Moving away from legacy solutions
or tools that aren’t specifically designed to handle the product information needs of
modern retailers can be a big step forward for many merchants.
“PIM software has automated processes which eliminate mistakes made in managing
PIM data,” explained Mark Smith, the chief executive officer and chief research officer
at Ventana. “Organizations that combine PIM with master data management systems
seamlessly across all data domains will gain significant benefits from efficiency to
improving the customer experience.”
PIM systems contribute to data transfer in two ways: managing imported data and
managing exported data.
PIM systems helped nearly 50% of
retailers eliminate errors.
44% of retailers said their dedicated
PIM solution improved sales potential.

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Organizations that combine PIM with
master data management systems
seamlessly across all data domains
will gain significant benefits from
efficiency to improve the customer
experience.
IMPORTING DATA
A PIM system should be used for importing data from supplier product feeds. This
includes setting up connections through an application-programming interface (API).
Scalability is key here for merchants looking to sell a substantial number of new items,
and the right API allows merchants to add new products quickly.
EXPORTING DATA
Exporting data, on the other hand, refers to store product feeds. An API can be used to
connect a PIM system to multiple sales channels, regardless of whether they are using
a third-party marketplace, a POS system or their
own eCommerce platform. Marketplaces and
online stores have very different requirements,
and the right PIM ensures that product information
is manipulated for the respective platform.
When referring specifically to exporting data,
timeliness should be a priority. If time-sensitive
data isn’t updated as soon as possible, retailers
may be misleading customers, in terms of price or
inventory available, which contributes to a negative shopping experience. A PIM system
helps eliminate much of the complexities that cause delay or a lag in the listing process,
ensuring retailers can quickly push information live to their sales channels.

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PIM IS A COMPETITIVE NECESSITY
A dedicated PIM solution that helps retailers deliver coordinated and relevant informa-
tion to customers, regardless of channel, is a competitive necessity in the current retail
climate. A centralized database creates a single source of truth for all product data,
ensuring a coordinated delivery across sales channels. This allows merchants to improve
merchandising and expedite the content publishing process while eliminating errors.
Although merchants have traditionally found other ways to manage their product data,
as the retail industry continues to grow more competitive and expansive, retailers need
more efficient and integrated solutions to help organize product information.
Every retailer is different, and as such, they have a variety
of needs. Fortunately, there are a number of PIM solutions
available that can help every merchant address the issues
they face.
TRADITIONAL PIM
A traditional PIM is usually a stand-alone solution that integrates with other retail
software. Many larger retailers choose to go this route as they have specific and
comprehensive content and product management needs and these solutions
usually offer more features.
A dedicated PIM solution is
a competitive necessity in
the current retail climate.

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RETAIL MANAGEMENT SYSTEM WITH BUILT-IN PIM
An increasingly-available alternative is a complete commerce management system that
contains a built-in PIM solution. SalesWarp is such a solution. The advantages to using a
complete management software is that it provides the necessary product management
functionality today’s multi-channel retailers need, while allowing data to flow seamlessly
between departments, such as merchandising, customer service, warehouse and
in-store, improving transparency and access
for the entire retail business. A commerce
management system also provides a whole suite
of additional tools to manage orders, inventory,
customers, suppliers and sales channels.
A PIM system can go a long way in not only
improving the way companies handle their own
internal operations, but also in promoting transparency and clarity among consumers,
who rely on this information to make purchasing decisions. Retailers should consider
implementing a PIM solution as one of their next priorities as they look to expand across
multiple channels.
A PIM system promotes transparency
and clarity among consumers, who
rely on this information to make
purchasing decisions.

13. To learn how SalesWarp can help your retail
organization, visit SALESWARP.com.
ABOUT SALESWARP
SALESWARP is a centralized commerce management system for responsive retail. SalesWarp breaks down
the barriers in a multi-channel commerce operation to manage all product, inventory, order, fulfillment,
accounting and customer data from one system. By eliminating operational silos, SalesWarp provides
retailers with seamless data flow and advanced intelligence that results in more effective decision-making
for a profitable, streamlined and responsive retail business. For more information, visit SALESWARP.com.