Reliable, complete, and consistent product data plays an increasingly important role in enabling a seamless omnichannel experience.
Consumers evaluate and purchase products today in an omnichannel world. Many prefer online channels, but the inability to physically evaluate a product is one of the biggest barriers for completing the purchase online. Many leaders across consumer-facing industries are starting to recognise that their companies can standardise “foundational” data required to identify a product, such as brand name, weight, dimensions, and ingredients, to ensure consumers see the same information across channels, partners, and geographies.
The benefits of adopting a standard data model
A standard data model will increase transparency for consumers and improve the omnichannel experience. With higher quality, more consistent product data, consumers will be able to search and evaluate products more easily, make better decisions, and trust retailers and brands even more.
A standard model will increase operational efficiencies with faster, easier, and cheaper management and exchange of foundational data. Brand owners will require less effort to map and exchange data due to a reduction in the number of retailer formats. Retailers will no longer need to create their own models for each new category or to train new brand partners on data requirements.
Read the report to discover how competitors can cooperate to unlock opportunities across the value chain.