By collaborating more, retailers and manufacturers can engage shoppers more effectively, according to a new survey.
Meanwhile, the findings also identify consistent product information across all digital platforms as a key to the overall experience consumers have when shopping for products. The survey was conducted by Consumer Goods Technology, an integrated media brand for consumer goods executives, and Gladson, provider of product content and related services,
Among the key findings:
- Trading partners are collaborating on several initiatives to improve the customer experience, with each of these initiatives: market research (50 percent), digital promotions (44 percent), improved planogram compliance (44 percent), store-specific assortments (41 percent) and store optimization (41 percent).
- Since consumers rely on online information to make decisions, companies are challenged to keep product content current. Lack of internal resources to maintain product data is the top challenge cited by 57 percent of respondents, followed by the pace of updates at 45 percent and the sheer volume of platforms at 43 percent.
- One way manufacturers hope to create a more engaging online experience is by enhancing product content on corporate and retailer websites. For example: using more product images/views, value-added content such as product reviews and recipes, and expanded product details.
“When a manufacturer is operating from a consistent base of product information for B2C and B2B processes, it puts itself and its trading partners in a better position to satisfy shoppers, increase sales and realize tangible operating efficiencies,” said Susan Sentell, CEO and president of Gladson.
“With 75 percent of respondents indicating that 15 percent or more of their product portfolio is updated each year, we know how challenging it can be to create, maintain and distribute this digital information. Our focus at Gladson is to help our customers establish one version of product truth across their enterprise and the marketplace, leading to improved shopper engagement and retailer collaboration and execution,” she said.
To help its customers establish one version of product truth, Gladson’s product content database – with product images and information for more than 1 million CPG items – can serve as the product content source for everything from e-commerce and advertising to category management and master data management.