Product information management systems have been adopted by large sale retailers. PIM for retail is begun to be perceived as the most basic viewpoint for retail scene. Gone are the days when ERP systems were answerable for the items. A PIM arrangement has reliably become a specialized part of master data management which is seeking to provide a single source of genuine information of product data.
What is PIM Solution? A PIM is the central repository for all things related to structures and unstructured data. It extricates processes to make it simple to bring together, organize the item information by aggregation, maintenance and syndication from applications including ERP and core merchandising items. It becomes focal store for following tasks:
- Core product data
- Product attributes
- Product specifications, dimensions, warranty and packaging info.
- Product copy
- Multi language content
- Basic information of suppliers
- Product related metrics
- Product digital assets/ media
Why should Retailers Care? PIM is picking up importance for online retailers. As indicated by the overview, over half of all retail sales were influenced by online product content. And one third of the US adult population considered purchasing from an online retailer who they had never recently bought from. They were more likely to buy from the retailer who offered detailed product information. Nonetheless, PIM deals with the most basic components of on the online channel business and has become more than a system solution. There are many PIM platforms for retailers which create and enable a sole enterprise platform that effectively manages content and digital assets, making an ease for retailers to publish them on multiple mediums. A portion of the key important features that maintains relevancy are discussed below. Also make a note these features vary according to different platforms.
An ever increasing number of retailers of various kinds and sizes have begun turning towards a brought together product management system to allow simpler access of sharing information over the channels. Along these lines, it’s worth for a retailer investing in PIM for Retail purposes.
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