Tag Archives: data study

It’s Just Commerce!

Since I was a toddler, I have been exposed to multiple paradigm shifts within the marketplace that in one way or another are an attempt to reinvent how we as consumers buy things.

For me, it started with going to stores, or shopping in a catalog and then blossomed into the world of connected commerce today. Recently when I stepped back from the daily act of using my phone or computer to research and buy products I came to a realization, the revolutionary experience I have been leveraging was not all that different from when commerce started.

Commerce took a turn for increased accessibility to products and a centralized way to purchase multiple goods/services from one location. Trust, reviews, availability and price were still the cornerstones of commerce.

Customers trusted the store to offer friendly advice (owners & employees), have products on the shelves and if the prices weren’t right, the customer went to a different store. The main thing that changed was how the products were brought to the customer.

First Came The Big Box Retailers

You no longer needed to be concerned with selection, because the big box had “everything’ you could want. Stores got bigger allowing for greater availability, lower prices, and product insights from media outlets (newspapers, TV, Radio).

E-commerce has shaped our relationship with how we buy and sell products, but at it’s core e-commerce is just next evolution of catalog shopping The innovation is not the method or even commerce itself, but an expansion on the idea of getting any item even from the comfort of your couch.  

Bridging the gap between digital and physical does present a challenge for the retailers/e-tailers etc. as they are looking to make the trust, availability, price and review experience seamless across all avenues of purchase.

From Brick To Click

1WorldSync recently completed a data study that highlighted some of the key challenges suppliers and retailers face when trying to achieve true cross-commerce capabilities.  and uncovered key insights into the struggles that are faced in today’s omni-channel world.

Key findings suggest that a majority of merchants and suppliers are not fully prepared to meet the varied demands of modern customers. 45% of merchants and suppliers have lost more than $1 million in revenue due to challenges faced when integrating cross-channel capabilities into their commerce strategy (Source: 1WorldSync Data Study).

You can read more here about how 1WorldSync can you make your products stand out in a very crowded Omni-Channel world.

Win Consumers On Their Path To Purchase With Trusted Product Content

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

Consumers expect rich and trusted product content on all channels: desktop to mobile.  Accurate, rich and timely product content is critical in the path to purchase from discovery to delight.

One may think that managing product content and data is easy, but the challenges include:

  • 10’s enterprise systems in typical back end to manage product data.
  • 100’s people sourcing, aggregating, cleansing data needed for commerce.
  • 1000’s trading partners requiring exchange data with in a variety of formats.
  • 10,000’s of websites, apps and 3rd parties, representing your product/brand to the consumer.

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

A new data study commissioned by 1WorldSync highlighted many 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.

Key findings suggest that a majority of merchants and suppliers are not fully prepared to meet the varied demands of modern customers. One major data highlight emerged:

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.

Trusted Content, Everytime, Everywhere

Brands and retailers need trusted, experienced experts to help them on their product content journey towards a single source of truth!

On May 24, 1WorldSync is pleased to partner with Progressive Grocer and GMA and host a webinar on how to “Win Consumers On Their Path To Purchase With Trusted Product Content”.

Join industry leaders from Tyson, Mondelez and 1WorldSync for a compelling discussion and Q&A on:

  • The evolution of the product content journey from supply chain to cross-channel commerce
  • How trusted content is curated and delivered anytime, everywhere
  • How to influence consumers with trusted product content strategies on the path to purchase
  • How to effectively navigate hurdles encountered while integrating cross-channel capabilities

Register Today!