Tag Archives: digital

Fireside Chat With 1WorldSync Leadership: Cheers to 2018!

Happy New Year! In a recent conversation with the 1Worldsync marketing team, I was asked to look forward and share insights on the direction that commerce is headed in 2018 based on some of key events that we experienced in the marketplace. Please pull up a chair and join us for a few minutes as we journey into the future!

What were some of the key priorities for 1WorldSync in 2017 that encompassed both our technology and market expansion?

2017 has truly been a momentous year for 1WorldSync. From releasing new capabilities like Sales Kit to supporting Amazon and Alibaba in their quests for quality content, to working with customers like Tyson and P&G to support their SmartLabel initiatives, our partnership with our global customer base of 25,000 has pushed us to continue to innovate.  Every year, 1WorldSync continually strives to make it easier for our customers to share and transform their trusted product content into a competitive differentiator. 2017 was no different.

What is your advice for brands and retailers that want to make their products digital, discoverable and highly shoppable in 2018?

  1. Focus on the customer: According to Forrester’s 2015 Customer Experience Index, 86% of companies want to excel at customer experience. But only 27% of brands even qualify as “good” in the eyes of their customers. Today’s shoppers want exceptional experiences exactly when and where we want it.  Understanding your consumers’ needs and then tailoring the rest of the organization to meeting those needs is crucial.
  2. Break down organizational silos: In many companies, online stores are operated by a specific “digital” team, while physical stores are run by yet another operations team. Further, there may be another team responsible for GDSN data and another for web ready product content. This siloed structure inside an organization can result in a fragmented customer experience. It is crucial to have a holistic strategy for consolidating and distributing product content across the organization.
  3. Leverage one solution to enable Omni-Channel retailing: You cannot keep up with the ever increasing demand for product content, unless you have one solution that addresses the entire project. By enabling products to stand out in a crowded omni-channel world, 1WorldSync delivers rich and trusted product content, including digital assets and insights – to engage customers and consumers – regardless of location or medium.

How do you think brands and retailers can better compete with trusted product content that their customers can count on in 2018?  

No matter where you are in your product content journey, focus on data quality! Data quality is  important because:

i) 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.

ii) E-commerce recipients are requiring more and more data in order to sell on their websites. Some are factoring in completeness and accuracy of data in search rankings and others are applying penalties who underperform from a data quality perspective.  

Where do you think commerce is headed in the age of the connected consumer?

Technology like connected home devices, virtual reality, streaming television services, voice ordering and drones have made digital shopping easier and more integrated into everyday life.

The shift to the connected consumer shows no signs of slowing down, and buying habits are transforming. Retail isn’t just about when customers are ready to buy anymore– it’s a constant engagement with technology and experiences that drives the future of commerce.

We predict these three trends will shape the future of retail in the years ahead.

  1. Consumers will continue to demand more product content to enable data driven decision making.
  2. Marketplaces will be the driver for global revenue in the retail world.
  3. Organizations will remove silo shackles in order to unify disparate data.

What can we look forward to from 1WorldSync this year?

 2018 will be the year of consistency and uniformity within the 1WorldSync product cloud.  With unification across our technology architecture, we will focus on an improved user experience ranging from sales engagement to support model to industry involvement.

As we wrap up another year, I want to thank you for your continued business and trust in 1WorldSync. At 1WorldSync we truly believe we are one community. The power of 1 adds up to empowering our customers with trusted content to make informed decisions for their health, and well being. We continue to strive to deliver trustworthy content, anytime, anywhere.

On behalf of the entire company, I can confirm to you that we are motivated and inspired by the opportunities that you give us to help you succeed. Continuing to deliver results that exceed your expectations is our top priority in 2018.

Be Efficient. Be Compliant. Be Transparent.

This year more than 250 1WorldSync community members gathered in Austin, Texas for 1WorldSync Annual User Group, Americas to collaborate on hot topics under the theme: Be Efficient. Be Compliant. Be Transparent. With informative sessions addressing key industry pain points relating to supply chain efficiencies, regulatory compliance and any channel commerce, Annual User Group, Americas attendees heard how leaders in their community are addressing challenges and empowering their businesses for trusted product information exchange. As part of the dynamic agenda, fourteen 1WorldSync customers took the stage to share their success stories and attendees were treated to a special preview of The Attribute Graph (TAG) by 1WorldSync’s Chief Marketing Officer, Nick Parnaby.

The Fifth Annual Power of 1 Awards rounded out the event with General Mills, The Kellogg Company, Knights Apparel, McDonalds, Mondelez International and Walgreens each taking home an award for their significant contributions to product information exchange initiatives and the 1WorldSync community.

As the Diamond Sponsor of GS1 Connect 2015, which was co-located with 1WorldSync Annual User Group, Americas, 1WorldSync enjoyed an array of opportunities to continue to build upon the Be Efficient. Be Compliant. Be Transparent. theme. 1WorldSync CEO, Nihat Arkan, introduced the Wednesday keynote speaker to the GS1 Connect audience and 1WorldSync was the primary sponsor of the Wednesday night networking event, GS1 Connect on Rainey Street. Attendees to the 1WorldSync booth experienced the product information journey in the digital world, attended informative Major Release 3 1:1 sessions and engaged with leading recipients Target Corporation, The Kroger Company, Sam’s Club, SuperValu and Walmart.

New for 2015, 1WorldSync launched the 1WorldSync Events App which brought 1WorldSync and customer collateral, as well as dynamic community engagement right into the hands of attendees. The overwhelmingly positive feedback has ensured that 1WorldSync Annual User Group, Europe attendees will enjoy a similar digital experience. All in all, the week was a great success and we are excited to extend that success to 1WorldSync Annual User Group, Europe in September!

Transparency – The New Consumer and Corporate Social Mandate

For some time now we have been living in an era of Transparency. Transparency in our policies and procedures, transparency in the business practices we operate, and transparency in the products and services we buy in business and in our daily lives. The transparent manner in which consumers expect to discover, buy and express opinions about products or services is the new norm for any business that expects to flourish in the mobile social economy.

Product information is in demand throughout the entire discover-to-review lifecycle, and at virtually every touch point of the consumer experience. Understanding the importance and value of product information transparency and its accessibility is simple, however, delivering it efficiently and seamlessly is anything but simple. Businesses must revisit the manner in which product information is created, exploded, standardized, quality assured and syndicated to all parties that enable the consumer experience.

Consumer demand for transparency and accountability is forcing businesses and entire industries to revisit the way product information is sourced, aggregated, distributed and labeled. Years ago, the seller was in control as purchase decisions were based on the availability, convenience and brand. The paradigm has shifted, and with an abundance of choice in front of them, consumers are making selections not simply on brand or availability, but on the attributes about the product. 

Compounding this even further, a plethora of global legal and regulatory mandates have been put into place, requiring Brand Owners and Sellers to comply with product information centric regulations. For example, EU Food Regulation 1169 or FDA’s Unique Device Identification. Such regulations are another compelling force for companies all around the globe to take a closer look at the digital information chain that accompanies their products as they pass along transitional and new Omni-channels to market.

For 1WorldSync, product information transparency gets to the heart of everything we do. Our mission is to empower global businesses and consumers with trusted product information that enables improved decision making, efficiency, health and well-being.

Our Product Information Cloud platform purpose was built to deliver syndicated product information solutions and services to customers around the globe that rely on product information to power their businesses. For many of our 16,000 customers, the ability to mobilize a product information transparency program is a logical next step on top of the solid product information management foundations they have built with us over the last decade or more.

Every industry we operate in is actively investing in software and processes transformation that enables transparency. From the product development, to aggregation and management of product data at the manufacturer to setting up an item for sale at a retail or online store, to presenting that information to the consumer.

It is such a hot topic this year that we have made it the focus of our annual customer user conferences in both the USA at GS1 Connect, and in our EMEA customer event alongside ECR Europe this year. 

A Better Way to Find Stuff Online

Finding and comparing products online is far more frustrating than it needs to be.  Especially if you’re trying to find the online version of a product you found in the store. There is almost no correlation between the offline product world and the online product world. I can say this confidently, because I found out from personal experience recently. Continue reading

The Commerce Metric That Matters

E-commerce as a sales channel for the retail industry continues to grow. Currently, e-commerce accounts for about 6% of overall retail sales, and about 11% of the top 30 product categories, according to Forrester.  The growth rate of e-commerce sales is currently estimated around 15% annually, much higher than that of traditional in store sales.

But, with that said, many look at that one metric, e-commerce sales and can be mislead because it is relatively small at 6%.  So even with good growth, it will remain a very small, niche “channel” in the minds of many retailers.

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Enable and Empower your Supply Chain!

Now, more than ever, global supply chains are under pressure to be agile and transparent, in the face of renewed consumer demand and the massive rise of Omni-channel commerce. In today’s digital world, your product information is one of your most valuable assets. Before your customers and trading partners ever see the physical product, they will have access to the digital information representing it. With the explosion of product information in the marketplace, the demand for quality, accurate product data has grown exponentially.

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The Era of Contextual Shopping

Digital technologies are transforming the way we shop. E-commerce and smartphones have raised the expectation consumers have about their shopping experience. One of those expectations is around personalization. Amazon knows what brands I buy, what type of product I’m searching for, what special events I have in my life, what types of new products I might find interesting, and many other things. This allows Amazon to create a very personalized experience for me as a shopper. Product recommendations and deals often resonate very well with me, and encourage me to make a purchase.

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Digital Consumers Change the Game

The future is hard to predict – but there’s one thing for certain: change. The ascendance, evolution and influence of digital consumers changes the game. That ‘game’ is Marketing, Sales, and the very capabilities of companies to manage, store, maintain and distribute information about its products. This is the information that makes its ways to digital consumers and digital shoppers any time and any way. The companies that have the savvy and the foresight to build the core capabilities needed to deliver to these consumers will win.

Think of digital consumers in three ways. The first, and simplest, is to think about their use of devices, which are constantly changing, sometimes unpredictably. Smart phones, tablets, laptops, watches, (glasses, drones?)…the list goes on. Who’s to predict which devices will dominate in even in the near future?

The second, more important way to think about digital consumers is to understand the contexts in which they will interface with brands and brand information. Where will consumers be and in what situations as they discover, research, share, form an opinion on, recommend, and purchase products? Could the automobile be the most important informational ‘hub’ location for consumers in 2020 because it’s so central to so many contexts? (Will there be an Apple car?).

It’s really about the information. To think about digital consumers is to think about the information that they will demand and expect, in every context. They will expect information to be current, accurate and rich. That would be images, videos, claims, specifications, ingredients, reviews, social-cohort recommendations, purchase sites and locations, with certainly more to come.

The companies best positioned to deliver to and win with digital consumers are the ones that understand the vital importance of information and its context. They’re building strong capabilities around governance and delivery of their product data. That’s one thing to control as they face a mostly unpredictable future.

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