The Next Level of Omnichannel Commerce
The evolution of retail from omnichannel commerce to commerce relevancy focuses and customizes product information for customers in both B2C and B2B commerce.
In today’s product information management, speed is essential. But real-time commerce is quickly becoming less of a competitive differentiator as customers expect increasingly more personalization in their online shopping experiences. Offering the right product from the right supplier to the right customer, and all at the right time and place—that’s commerce relevancy. And it’s the next wave after omnichannel commerce, taking online retail to a whole new level. It’s also something that only the most competitive retailers can deliver.
With a sharp focus on this commerce relevancy, Informatica announces the release of PIM 7, the latest version of its award-winning product information management software. The best product in its class, PIM 7 enhances the online shopping experience and builds brand loyalty with consistent product information available across all sales, marketing, and distribution channels. “With PIM 7, our aim is to help our customers be the first to bring their products to market, deliver better margins with highest quality product information, and collaborate with their partners and suppliers”, says Ben Rund, Senior Director of Product Marketing, Informatica
Introducing New Products at Warp Speed
Time-to-shop is a key performance indicator to measure agility in making products ready to sell. Informatica PIM 7 dramatically reduces that time.
The time required for a retailer to make new product assortments available online—or at any touch point where customers make purchasing decisions or start their product search—is known as time-to-shop. It’s often seen as a measurable key performance indicator and subset of the general time-to-market discussion. The use of PIM software reduces time-to-shop from an average of four hours down to one hour, according to a recent survey by pimroi.com. This represents an increase in market speed of 75 percent, resulting in a significant jump in business and market agility.
Large manufacturers and retailers—including Saks Fifth Avenue and BMW—already use product information management from Informatica to shrink their time-to-shop and grow their omnichannel commerce. With the launch of a new service pack update, Informatica PIM 7.03 further optimizes online commercial strategies. New innovations include a powerful Web search function for accessing up-to-the-minute product information and a built-in set of data quality capabilities based on the market-leading Informatica Data Quality.
By enabling customers to access product information in an easy-to-consume format, Saint-Gobain would increase sales conversion rates and lower return rates. Moreover, the company would be uniquely positioned to increase customer satisfaction and loyalty through more consistent product information across all sales channels—including mobile devices.