Tag Archives: Omni-Channel

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. 

Consumers are head over heels for product information

Consumers worldwide are in love with product information. They’re using it to research and guide their purchasing decisions and they’re accessing it in various ways from multiple locations before committing to check out. The consumer electronics industry is an ever evolving industry with a constant introduction of the latest and greatest products.  The digital age is driving the way these products are introduced to retailers and, ultimately, presented to consumers.

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1WorldSync’s customers have the convenience of having a “One Stop Shop”…

Pam Hoock from Bunzl describes her experience with 1WorldSync’s Digital Asset Management capability

Supply Chains are evolving to address the pressing needs of the digital economy. Businesses must respond to the demand for the exchange of digital assets, from high quality images, eCommerce thumbnails, product safety documentations, video and other digital media.

1WorldSync offers a powerful digital asset management capability within its Product Information Cloud platform, which customers are currently taking advantage of.  Brianna Feeney, VP of Global Marketing at 1WorldSync discussed with Pam Hoock, Data Sync Administrator at Bunzl to get her experience on leveraging 1WorldSync’s Digital Asset Management capability.

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Attribute Explosion and Data Quality in an Omni-Channel Global Economy

Cologne (Germany), Oct. 02, 2014 – 1WorldSync held their 5th Annual Congress at Cologne’s World Cup Soccer Stadium with 130 representatives from over 20 countries.  Industry experts drove discussions on consequences for increasing regulations, modified consumer expectations and new omni-channel strategies for multi-enterprise product information exchange. The annual congress brought together industry leaders from around the world who shared best practices of how enterprises can effeciently meet the deadline to comply with new regulations and support increasing consumer demands by working with 1WorldSync, the leading provider of product information networks and data pool solutions certified for the Global Data Synchronization Network ™ (GDSN®). 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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Global Reach, Local Connection- How 1WorldSync is bridging the Gap

International trading has always played an important role in Asian countries. In a practical business, it takes a lot of effort to get customers’ orders shipped out; however, it is even more challenging on the back-end of production. There’s potential risk which can cause continuous logistical errors. Product information errors cause a domino effect of errors resulting in invoicing and sizing errors…just to name a few. All of which result in a decrease of profits.

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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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Omnipresent Approach to Next Generation Retail

Did you know that *over $272,000 is spent online every minute and **72% of people are influenced socially through ratings, reviews and recommendations? Shopping behavior has changed significantly due to the multitude of online channels with information that is easily accessible to consumers to help make smart purchase decisions. Traditionally purchase decisions were influenced through advertisements and promotions directly from the brand owner or retailer. This trend is changing significantly and today’s shoppers increasingly leverage information from multiple online channels provided through mobile devices and social networks to enrich their shopping experience.

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Point of Sale – The Change Agent for Retail Evolution

We’ve talked a lot about how the retail industry is going through a transformation in this blog. The consumer, and their desire to make informed purchase decisions are driving most of this change.  As retailers begin to adapt to the connected consumer, many of their systems will begin to change in order to support the experience the consumer is demanding. The one system change that will likely take the lead in this change is the Point of Sale (POS).

Retail stores are doing everything they can to entice consumers to visit their location, and forego shopping online. The theory is that a superb in-store experience, combined with instant fulfillment, will make even the savviest connected consumer spend more time and money in the store.  For this to happen however, there is a bar for convenience that has been set by the e-commerce industry that must be matched – checkout.

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