Tag Archives: data quality

Amazon’s Continued Content Attribute Explosion

According to a recent report by Kenshoo, 72% of consumers visit Amazon before making a purchase. In fact, shoppers start their product research nearly 2X more often on Amazon than Google  (BloomReach 2016). 

It’s  more important than ever  your product content is highly discoverable on Amazon. Content is what connects you to your customer and,  more importantly, to  potential customers on their  critical  path to purchase.

Amazon announced it will begin sourcing attributes via the GDSN with 1WorldSync.

Amazon has invited a select group of suppliers to participate and they working closely to expand the group to include more suppliers and attributes in the near future. Amazon is now able to receive enriched, standardized product content through the data synchronization process enabling Amazon to:

  • Receive product content and changes in real time, speeding item setup from days to hours
  • Leverage brand owner GDSN core product content already available to help ensure product content accuracy, consistency and completeness
  • Leverage the GDSN rules and validations to ensure data quality

Leverage your GDSN product data to build a foundation for sending product content to Amazon!

Leveraging your GDSN product data to build a foundation for sending product content to Amazon saves time and ensures that consistent information will be sent all recipients.

Currently that content attributes ingested to Amazon’s Vendor Central are ingredient statements, nutrient type code, daily value intake percent, measurement precision code and quantity contained and UOM. The Amazon technology roadmap includes mapping more GDSN attributes, so it’s time to get started today!

Provide More Content to Amazon and Beyond

Consistent and fully populated product content allows your products to get discovered!

When you increase product content discoverability, you increase your brand awareness. It’s a fly wheel- but it starts with product content…

So why not leverage the GDSN data you have today and get it to Amazon? Ready to leverage your GDSN and get your products discovered by Amazon…..Learn more today!

References

http://go.bloomreach.com/rs/243-XLW-551/images/state-of-amazon-2016-report.pdf

Sourcing A Single Source Of Truth For Lowe’s And Beyond

In Charting Course for Global Commerce, a recent study by 1WorldSync, 78 percent of merchants report their product content exchange system cannot keep up with enhanced consumer demands for transparency.

Did you know that you only need one solution to get your product content to Lowe’s and beyond?

Further, did you know that 1WorldSync is certified with the largest number of items in the Global Data Synchronization Network (GDSN)?  Changing data pool partners causes multiple work streams, and is time consuming and costly.

Win Consumers On Their Path To Purchase With 1WorldSync

At 1WorldSync, we’ve been reliably helping 25,000+ suppliers and brands to build product information strategies to sell products to Lowes, Amazon, Walmart and beyond!

By leveraging 1WorldSync’s technology and relationships with thousands of suppliers and brands in its network, content service platforms will always have a scalable service provider to help exchange trusted product content anytime, everywhere.

We are a dedicated partner to our customers delivering unprecedented expertise and thought leadership throughout their entire product content journey.

Exceeding Expectations and Creating Stellar Experiences

  • No Hidden Fees: Gain unlimited users and unlimited access to new recipients.
  • Save Time & Money: Save time and effort and allow your current partner to manage all of your brand and content data in the manner that Lowes would like, allowing you to keep running your business
  • Unlimited Number of Demand Side Partners: Publish product and company information to as many recipients as desired (Get your products to Lowes, Amazon, Walmart and beyond)!
  • Enhanced Data Quality: Reduce time and money in your manual processes and involve fewer systems
  • Superior Service: 1WorldSync’s Professional Services Team can help create a complete end-to­-end global product content strategy tailored to each customer specific to their industry.

Undoubtedly accurate and timely product content helps instill trust and customer loyalty in the interchangeable and complex world of retail.

1WorldSync continues to offers a one-stop location for publishing GDSN and non-GDSN data to Lowe’s.  Learn more here!

Amazon: Prime-Time For The Grocery Industry

The grocery industry is the most pedestrian of retail endeavors – customers drive to stores, pick and pack their shopping, pay and then drive home. Many have tried to e-commercialize the grocery industry, but the business model never really seemed to work. The consumers desire to touch and feel grocery products before purchasing has been a barrier to widespread adoption of online grocery.

The food industry has traditionally been based around trust and price, not technology – and Whole Foods is known for providing a high level of trust and product transparency to its consumers through detailed product information. After a short dip into e-commerce, Whole Foods has refocused on brick-and-mortar retail growing 35 fold over the last 15 years (Fortune 2017)

And now, with the acquisition of Whole Foods Amazon sends a clear message to grocers that it is ready to play and, at least partly e-commercialize the grocery game. They’ve already dipped their toes in food and grocery in the past through Amazon Fresh and Amazon Pantry, but this gives them more robust access to high-quality food and more power to delivery grocery products more immediately to customers. It is also a bold statement that Amazon is serious about brick-and-mortar and at the same time this step finally fully validates cross-channel commerce as the future of grocery.

As the lines between online and in store have blurred, Amazon has realized that location will be a key driver for commerce success. Having access to Whole Foods’ 431 existing stores, gives them valuable distribution centers to bring fresh, localized products directly to customers. Amazon was also likely motivated to reach Whole Foods’ millennial audience and develop loyalty with the younger, more quality-conscious consumer.

This generation is more particular about where they buy their food and the ingredients in it, so Amazon will be able to earn the trust of these buyers through Whole Foods’ reputation and its strong identity as a trustworthy source for organic, GMO-free, high-quality food – that consumer trust will now be transferred to Amazon.  

Consumers need to be met wherever they are, whether in store or on their smartphones, but the importance here is an integrated approach. No one channel is the clear answer, but companies that stay competitive will need to more tightly integrate all of their approaches, both physical and digital.

Consumers are the key winners here, as the bar for success in the grocery industry is going to be much higher in the future. Competitive pricing, upgraded digital experiences, and more innovation will directly benefit customers.

Companies that aren’t paying attention to larger trends will lose as consumers demand for more product content; the value of an omni-channel approach to grocery; and the importance of consistent experiences across every channel.

To summarize, consumers aren’t tolerant of brands that look different online than in-store, and this is more important in the grocery market, as missing or misleading product information has the potential for serious harm.

What is the cost of bad product content to your organization?

88% of consumers say that detailed product content is extremely or very important to their purchasing decision. Consumers expect rich and trusted product content on all channels: desktop to mobile.

Common product content challenges that can slow down consumers’ product information journey include:

  • determining your data quality and how this positively impacts your business
  • leveraging the data you already have in GDSN for e-commerce and omni-channel purposes
  • global transparency initiatives

Now let’s hone in on the first product content challenge: data quality. No matter where you are on your product content journey, 1WorldSync Professional Services can help improve your data quality levels.

Data quality issues…the struggle is real

We hear the same challenges from all of our customers.

  • Suppliers have a large number of separate information stores and systems as well as other manual sources that house data for individual departments. It is difficult and expensive to integrate those connections.  With data replicated across the enterprise it is very challenging to align on ownership and establish data standards.
  • Data requirements change very quickly and can be hard to keep up with.  These changes can come from multiple places. They can be internally, market or recipient driven.  
  • A large amount of the 1WorldSync Supplier community is treating GDSN data separately from e-commerce data. This segregation can cause inconsistent or even conflicting consumer experiences for the same attributes, and ultimately cause harm to a brand.   

What’s the big deal around data quality?

Data quality is important for many reasons.  Some of the most popular reasons include:

  • Recipients are using the data you send them to drive their multi areas of their business as well as their e-commerce channels.  Do you, as a brand owner, want your recipients to clean your data and potentially impact your brand’s identity?
  • E-commerce recipients are requiring more and more data in order to sell on their websites.
  • Some e-commerce recipients are factoring in completeness and accuracy of data in search ranking and returns of your products.  Other recipients are applying penalties for suppliers who consistently underperform from a data quality perspective.    

Countdown to the Cosmo: Trusted Content, Anytime, Everywhere

1WorldSync is excited to join more than 1,000 partners in Las Vegas at GS1 Connect . For companies looking to upgrade their data quality capabilities, be sure to stop by the 1WorldSync booth (#17,18)!

Our professional services team invites you to receive your customized data quality report based on your existing items and take part in a 30 minute tailored consultation on your Consistency and Completeness against several key data quality performance indicators.

This is a great way to understand potential data quality issues with your current product content, how you rank against your peers, the impact on your business and what steps you can take to improve your data quality.

Sign up here for a 30 minute consultation during GS1 Connect!

The Struggle to Overcome Cross-Channel Commerce Challenges is Real

1WorldSync Omni-Channel Data Study: Charting Course for Global Commerce

A new data study commissioned by 1WorldSync highlighted some of the key challenges suppliers and retailers face when trying to achieve true cross-commerce capabilities.  The study surveyed 400 merchants and suppliers from Europe and the U.S. with more than $500 million in annual revenue, and uncovered key insights into the struggles that are faced in today’s omni-channel world.

As the global $1.9 trillion e-commerce landscape continues to expand, companies are facing difficulties successfully managing cross-channel commerce across continents, supply chains, and software systems, and are losing revenue as a result. Some even doubt the value of investing in these capabilities. In a key finding nearly half of global merchants and suppliers report having lost at least a million dollars in revenue to cross-channel commerce challenges.

The study sheds light on the apparent struggles both ends of the supply chain face in a fast paced market places where Artificial Intelligence, and online/mobile commerce emerge as top trends for consumers.

Merchants and Suppliers Face Significant Roadblocks in Navigating Cross-Channel Commerce

Key findings suggest that a majority of merchants and suppliers are not fully prepared to meet the varied demands of modern customers. Channel readiness is a significant struggle throughout the supply chain as e-commerce continues to evolve. Other data highlights include:

  • Future investment plans don’t address current e-commerce weakness: Forty-five percent of merchants and suppliers have lost more than $1 million in revenue due to cross-channel commerce challenges, and more than one in ten (13 percent) have lost more than $3 million.
  • Lack of content solutions hamper success: Half of merchants and suppliers do not use a third-party content provider, which hinders their ability to syndicate product content across channels and platforms.
  • Merchants lag when it comes to cross-channel commerce: Fifty-one percent of merchants cannot support mobile commerce, and 80 percent don’t integrate product information management across web, mobile, applications, and physical stores.

Market Leaders Show the Path Forward

While many merchants and suppliers surveyed struggle with different aspects of the retail experience, there are clear lessons to be learned from market leaders (defined as companies that complete 51 percent or more of sales online). For companies looking to learn from these market leaders and upgrade their e-commerce capabilities, top action items include:

  • Invest now in cross-channel capabilities: Sixty-five percent of market leaders have dedicated more than 30 percent of their commerce budget to digital and mobile commerce expansion in the last year. Today, 73 percent of merchant market leaders can fully execute mobile commerce, nearly 20 percent more than market laggards. Investments here help in the short and long term.
  • Engage with a third-party content provider: Eighty percent of market leaders use a third-party content provider, which is undoubtedly one reason this group reports greater visibility between trading partners.
  • Migrate to the cloud: Ninety-five percent of supplier market leaders use a cloud-based product information system, which simplifies the online sales process and enhances supply chain efficiency.

Blurred Lines & Blended Commerce – The Changing Face of Retail

“The shift in retail to the Internet is a huge change… every retail company is trying to manage the transition. It’s not well defined or understood and there’s no road map” said Simeon Gutman, a retailing analyst for Morgan Stanley (New York Times 2015).

Download a copy of our full data study here.

Discover the 1WorldSync Professional Services Team

Recent research indicates that the product information management (PIM) market will be worth $15.78 billion by 2021 (Whatech 2017). The rising demand compliance and verification and need for operational excellence and data quality are driving the PIM market.

“Online retailers that offer compelling, engaging, and complete content to shoppers will be rewarded by repeat purchases, lower levels of returns, and long-term loyalty” says Nihat Arkan, CEO of 1WorldSync.

Compete With Trusted Product Content Your Customers Can Rely On

88% of consumers say that detailed product content is extremely or very important to their purchasing decision (Google Shopping Guide, 2016). 

Accurate and timely product information is critical in the path to purchase from discovery to delight. It helps instill trust and customer loyalty in the interchangeable and complex world of retail.

Think about it! Can you imagine how drastically different our purchasing decisions would be if product content wasn’t as detailed as it is today?! Society relies heavily on the importance of obtaining detailed content…it would take us forever to get what we need and let’s face it, we aren’t getting any younger!

Common product content challenges that can slow down consumers’ product information journey include:

  • Identification of data quality issues that inhibit complete, consistent, usable, high quality product content for internal and external use
  • Demand of evolving cross-channel needs to aggregate and manage product data in one centralized location.
  • Inability to deliver expected transparency into products and related attributes.

Discover 1WorldSync Services Experts in Product Content Management

1WorldSync Professional Services Team can address these challenges while building a partnerships that will outlast the initial engagement.

  • We are global. Helping more than 25,000 global brands in 60 countries, the 1WorldSync Professional Services understands that no matter where you conduct business, trusted content matters.
  • We know our stuff. Leading organizations put their faith in our hands because we bring over a decade of experience and offer a full spectrum of best-in-class product information strategies and services to support customer vision and growth.
  • We’ve got your back. We understand your business, understand the toughest product content challenges you face and can deliver valuable services to address these challenges.  
  • We take you places. Then we can build the right blend of service offerings to help you share authentic, trusted content with your customers and move your business forward with decisions that you want – and confidence that you need.

 

Let’s get you set up for success today

 

 

References

  1. “Recent Research: Product information management market growing worth 15.78 billion USD by 2021”. Whatech 2017. https://www.whatech.com/market-research/it/260447-product-information-management-market-growing-worth-15-78-billion-usd-by-2021
  2. ‘Seven Steps To Successful Customer Experience Measurement’. Forrester 2016. Programs https://go.forrester.com/wp-content/uploads/Forrester-Seven-Steps-To-Successful-Customer-Experience.pdf

Blurred Lines & Blended Commerce – Are You Organized To Win?

Sync-Up! With Nihat
Nihat Arkan, CEO, 1WorldSync

The retail industry is in a transition.  Some of those changes have been unfolding over a long period of time, but more rapid changes have propelled the industry into a near revolution.  Retail as a whole was always complex and diverse, but with today’s technological advancements and globalization, the industry landscape has dramatically changed.   Consumer behaviors, shopping tastes and expectations are evolving and have become key drivers in retail’s transformation to a more consumer-centric industry.  International retailers (and consumer product manufacturers) have relied on developing markets and technology to fuel growth and I believe that a change in retail strategy is needed.

According to a recent study released by PwC, “The 2020 retail landscape may represent one of the more complex environments retailers and their trading partners have ever faced. Retail organizations that do not change where and how they sell and operate will fail to adapt and succeed in this challenging landscape.”  

Retailers are at a critical fork in the road.  A strategic mindset is needed.  Change, expand or become obsolete.  Globalization, cross-channel commerce, and transparency of product information must find an intersection point for retail businesses to thrive current day.

The Global Landscape

Amid ongoing economic turbulence, developing markets continue to offer retailers prime opportunities for growth. China, for example, has become the world’s undisputed leader in e-commerce, with 2015 online sales of $672 billion after 42 percent year-over-year growth. The rapid rise of e-commerce has turned China into a leading innovator in mobile payments (Global Retail Development Index, 2016).

I had the pleasure of attending a customer event in Berlin recently and had an opportunity to speak with customers about their challenges and their agendas.  During one particular conversation, a major global retailer in the U.K. shared that mobile commerce is now surpassing desktop (Criterio Research, September 2016).  The result is that they can no longer ignore mobile (whether apps or the mobile web) nor mobile targeting strategies if they wish to engage shoppers.

Retailers worldwide are challenged to rethink everything from store formats and payment methods, to digital impact on their operations. In order to survive and thrive in this evolving environment, retailers and suppliers alike need to acknowledge that changing landscape, identify those most critical to their business and chart a course for adaptation and change.

Here’s a great example of just that.  More and more customers and industry insiders are talking about Artificial Intelligence (AI) and how they can leverage this in relation to product content. Specifically, people are talking about how to reduce friction associated with mass data management by implementing AI assisted content entry, validation and data quality.  We’ve taken steps in this arena by engaging a leading machine learning professor Dr. Sascha Lange (PSIORI GmbH) to prove out predictive standards allocation.  We were pleased to discover that we had over a 95% accuracy rate for application of standardized product classification structures to product information at the point of entry to our catalogs.   

With the rise of SO/LO/MO (social/local/mobile) commerce our retail customers are demanding that tens of millions of products be available to present to consumers, with thousands of attributes per item.  AI will be instrumental in helping to source, classify, structure and analyze content for commerce.

The Changing Global Omni-Shopper:

Today’s “omni-shopper” shops when they want, how they want and where they want.  Consumers proactively search for savings, are generally brand loyal and shop across channels (McKinsey, March 2016).  They have more places and ways to shop and are exposed to an infinite number of shopping choices online.

As such, retailers are able to engage with shoppers via a variety of touch points, from a traditional shop around the corner to the 24/7 accessibility and convenience of their laptops, tablets and smartphones.  According to a report from Zebra (Zebra, 2015), “Today’s consumer seeks out stores updated to reflect the new shopping paradigm, equipped with digital tools like mobile checkout, to flexible delivery options that reflect their omni-channel purchasing patterns, such as buy online, pick up in-store.”

The notion of a global omni shopper is extremely powerful since this essentially means that the consumer, not the channel, is defining retail.  These global shoppers, no matter if they are in Los Angeles, Hong Kong or Dubai (and wish to shop within and between those countries), have infinitely more choices in today’s environment.  For the brand and retailer, that means a challenge or an opportunity.

Transparency and Knowledge-Centric Shopping

As consumers shop when/how/where they want, they are also more demanding of ‘what’ they want.  Today’s omni-shopper has high expectations for a rich and consistent experience with a retailer’s products and brand, across multiple commerce channels and borders.  Therefore, the way a retailer informs, educates and engages customers and consumers using product information must be comprehensive, trustworthy and current. One cannot ignore the value of that product information.  Of course, perhaps I’m biased in this regard.  Yet, I should mention that one of the largest retailers in the world told me that “digital product information is as important as the product itself.”

In that light, it’s clear that the quality and completeness of product presentation in online retail has a quantifiable and direct impact on product sales.   My belief is that the on-line retailers that offer compelling, engaging, and complete content to shoppers will be rewarded by repeat purchases, lower levels of returns, and long-term loyalty.

The key to success is identifying and maximizing the opportunities where they exist.  Just as consumers are more connected, retailers will need to follow suit, engaging with consumers wherever they are and at each stage of the promotion of a product or service: the before, during and after have never been more important.

Final Thoughts

As an organization that operates between businesses, 1WorldSync has privileged access to over 23,000 brands and hundreds of analog, digital and blended commerce players.  That gives us an ideal insider advantage – we can observe and advise our customers’ journey towards a blended commerce.  

Finally, let me conclude with a question.  Is your business already organized in a way that you can operate seamlessly between analog and digital channels to market?  If the answer is no, that’s OK.  Only a handful of companies can answer ‘yes’ to this question.  However, I can tell you that hundreds of companies are already on that path.

1WorldSync 2016 Annual User Group, Europe is just around the corner!

Join us for 1WorldSync 2016 Annual User Group, Europe taking place September 19 & 20 in the heart of Berlin!

You will have the opportunity to engage with industry peers and trading partners and learn the emerging trends and developments surrounding omni-channel commerce. You will also hear success stories from Europe’s industry trailblazers from EHI Retail Institute, METRO Group, Nestlé Purina Petcare Deutschland, PSIORI, Salesforce and more!

If your role involves a focus in Consumer Transparency, Omni-Channel Commerce or Data Quality, then this is a must-attend event!  

As a registered attendee, you will have admission to the annual Power of 1 Awards Networking Reception, on September 19, at Berlin’s chic Gendarmerie Hauptstadtrestaurant. This year’s reception dinner will honor leading companies that have made outstanding advances in innovation and community engagement in the global product content aggregation and distribution space. The night will conclude with plenty of networking opportunities and great entertainment.

On September 20, the 1WorldSync Annual User Group Europe will be located at the new Titanic Chaussee Hotel with special opening remarks by 1WorldSync’s CEO, Nihat Arkan. The day’s agenda is filled with power packed and thought-provoking sessions, including an exciting industry panel touching on the enhancements and implications of digital supply chain in Europe. Later on, there will be dedicated industry workshops focused on insights in Healthcare, DIY, FMCG & Foodservice sectors.

Don’t wait! Register your participation for this year’s 1WorldSync Annual User Group Europe!  Be a part of this exciting event that is tailored-made to address your needs into the next phase of product database and supply chain management in Europe.

To view the full Agenda of the power packed event, please visit our Annual User Group, Europe website.

For more information or questions, contact us at events.eu@1worldsync.com.

Have you attended 1WorldSync Annual User Group, yet?

One of the main value adds we bring to our customers is the ability to provide our community with collaborative platforms for open engagement and industry alignment. 1WorldSync Annual User Groups ensures opportunity for community engagement and encourages user-led information sharing.

Driven by 1WorldSync experts coupled with leadership and guidance from our valued customers, 1WorldSync has a series of usergroups to capture the community needs and develop roadmaps towards industry betterment.

During the week of May 31- June 3, 1WorldSync held its Annual User Group, Americas and Joint Industry Council meetings in co-location with GS1 Connect in Washington DC. This event and all associated activities and workshops were very well organized and ushered remarkable customer attendance from the US/Canada to Germany, UK and Japan. Having such a diverse community, along with GDSN’s post Major Release 3 excitement, initiated very interesting discussions around today’s demand for omni-channel requirements and product content management.

I received many positive comments around 1WorldSync’s User Group workshops where many of our customers (Sam’s Club and The Kroger Co. to Target and Kellogg’s)  shared their experiences, opportunities and best practices. I was particularly pleased to see how well 1WorldSync customers eCommerce content acquisition strategy is aligned with 1WorldSync’s omni-channel strategy (linking  GDSN to Digital Commerce  requirements).

As a global organization, 1WorldSync hosts various community activities throughout the year. In fact, building on the momentum and success of 1WorldSync Annual User Group, Americas, we are in the final planning stages of 1WorldSync Annual User Group, Europe scheduled for September 19 – 20 in Berlin, Germany.

This is 1WorldSync’s largest event in Europe with over 200 community members from CPG, Retail, Foodservice, Healthcare and DIY industries discussing strategies on Data Quality, Supply Chain Enablement, Transparency, Compliance and Omni-Channel Commerce.

We will keep you fully engaged and informed on all our community events and will continue to invest in global community enablement and engagement.  In the meantime, I would like to thank 1WorldSync customers and partners for openly sharing their experiences and insight with the community. We all look forward to seeing you soon at our upcoming European event.

Attend 1WorldSync 2016 Annual User Group, Europe!

1WorldSync 2016 Annual User Group, Europe associated with GS1 Germany ECR Tag  is right around the corner!

1WorldSync Annual User Group season kicked off with great success at the 1WorldSync 2016 Annual User Group, Americas in Washington D.C. As we build off the momentum, we are excited to see the community at the 1WorldSync 2016 Annual User Group, Europe on September 19 – 20 at the Titanic Chaussee Hotel in the beautiful city of Berlin!

Every year more than 200 community members, decision makers and industry experts from CPG, Retail, FMCG & Foodservice, Healthcare and DIY industries discuss strategies on Data Quality, Transparency & Compliance, Supply Chain Enablement and Omni-Channel Commerce and more!

This event brings together community members from around the world for networking, collaborative industry workshops, plenary sessions, keynote speakers discussing insights and best practices.

Key Topics include:

  • How to increase supply chain efficiency
  • Comply with regulatory demands
  • Make products digital, discoverable and shop-able across all channels

CONNECT. TRUST. EMPOWER.

These three important words represent this year’s Annual User Group theme and demonstrate that product information and content is key for a sustainable growth and competitive advantage in an Omni-Channel world.

Don’t miss this exclusive and exciting event, held on September 19 – 20, at the Titanic Chaussee Hotel in Berlin, Germany.

We look forward to welcoming you there!

To register, please visit the event website.