The Amazon effect is a catchy phrase to describe the ongoing evolution in how Amazon has influenced people’s shopping experience. It also sums up the resulting disruption in the retail market for both online and physical outlets.
According to FierceRetail, “Information about the product has grown to become as important as the product itself – influencing 56 cents of every dollar in retail sales.”
Have you ever searched for one of your products on Amazon.com? Are your products represented correctly? Does the product content support the product you are trying to sell?
What does the ‘Amazon Effect’ and desire for more product information mean for brands, manufacturers, and distributors?
The Amazon GDSN Product Content Initiative with 1WorldSync
Brand owners should be proud of the products they sell and ensure they are represented appropriately on Amazon.com. By taking control of your product content, you have a huge opportunity to drive incremental revenue and capture new customers.
In partnership with 1WorldSync, Amazon has joined the Global Data Synchronization Network (GDSN) to make it easier for brands, manufacturers and distributors to:
Provide an automated process to manage and distribute product information to Amazon including Prime Pantry, Amazon Fresh etc..
Improve the accuracy of the product content listed on Amazon.com.
Understand the completeness and quality of the product content supplied via the GDSN.
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.
Utilizing the 1WorldSync Product Information Cloud (PIC), not only can brands easily improve their product completeness and accuracy of the products listed on Amazon.com,but also enable fast turnaround time on attribute changes in order for optimized product listings.
Are You Ready To Tap Into The Power Of The Amazon Effect?
inRiver, the foremost provider of multi-tenant SaaS-based product information management solutions, and 1WorldSync, the leading provider of product content solutions, are partnering to empower informed consumer purchase decisions through easier access to authentic. trusted content.
1WorldSync and inRiver are deploying a standardized PIM connector that expands their joint capability for customers to exchange relevant and needed product data. Customers that are using inRiver PIM will be able to easily send and receive data to 1WorldSync in an automated fashion. 1WorldSync will then aggregate and distribute that data between trading partners for more consistent information and efficient supply chains.
Consumers and business customers alike rely on product information to seek, discover, and purchase products. To make informed decisions throughout this process, customers must trust the product information they are finding both online and on store shelves. 1WorldSync works with brands globally in industries such as CPG, retail, food service, and hardlines, to ensure that their customer experience is built on trusted product information.
In turn, inRiver provides product information management solutions that enable merchandisers and product marketers of both B2B and B2C enterprises to assemble, enrich, and disseminate consistent and relevant product information to downstream partners and end-user customers.
“inRiver is excited to announce our intention to certify our updated, out-of-the-box connector, with the latest release of 1WorldSync’s GDSN standard datapool solution (3.1.x),” stated Joe Golemba, Vice President of Alliances and Services at inRiver. “Regardless of industry, 1WorldSync aggregates, stores, and circulates trusted product data for thousands of companies across the world. This certified connector will help inRiver’s current and future customers go to market more rapidly and instill even greater trust and confidence for their customers.”
“The 1WorldSync Product Information Cloud platform is designed for organizations to exchange authentic and enriched product information and digital content, creating a mission-critical foundation for connected commerce. With this connector between inRiver and 1WorldSync, customers will be confident that the information they are accessing is high-quality, accurate, and complete,” commented Dan Wilkinson, Chief Commercial Officer at 1WorldSync.
Walmart, the 55-year-old retailer, announced that it is dropping the word “stores” from its title in order to solidify their eCommerce Strategy. Effective February 1st, Walmart will change its legal name from “Wal-Mart Stores, Inc.” to “Walmart Inc,” according to a company press release.
The company has spent billions acquiring websites like Jet.com and Bonobos, encouraging customers to shop online. According to Reuters, the name change “highlights the company’s online, pickup and delivery and mobile shopping capabilities.”
Their eCommerce strategy is tied to the Walmart Marketplace that continues to expand its number of sellers and SKUs. If your product is not represented on their website, Walmart will dropping ‘stores’ from their name. This highlights the importance of getting your product represented on their marketplace!
Did you know large marketplaces like Walmart, Amazon and Alibaba often get more traffic than a single brand’s website?
Thus, brands and manufacturers must prepare their products to be found everywhere your shopper is, including Walmart, Amazon and Alibaba.
To ensure your products stand out from the competition on these digital shelves it is imperative that high-quality content is reflective of your brand in these large marketplaces. Making sure that your product content and digital assets reflect your brand in these marketplaces will help your products sell.
How are you prepared to tap into Walmart, Amazon and Alibaba’s incredible eCommerce growth?
You must take control of your product content to ensure that you are sending accurate and complete product content to Walmart.com and other marketplaces enabling your to protect your brand equity.
1WorldSync works exclusively with companies like Walmart and Amazon to help brands distribute their GDSN and eCommerce data. The 1WorldSync Product Information Cloud helps customers seamlessly list, manage and optimize product content necessary to sell on marketplaces.
Learn more today on how you can get your product content delivered to Walmart, Amazon and beyond!
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?
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.
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.
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.
Consumers will continue to demand more product content to enable data driven decision making.
Marketplaces will be the driver for global revenue in the retail world.
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.
Medical device professionals face an ever-growing list of demands for their product data from downstream users all over the world. Some of these demands are regulatory, such as FDA’s Unique Device Identification (UDI) submission mandate.
Others are commercial, such as hospital networks needing access to device product data electronically through the Global Data Synchronization Network (GDSN) in order to maintain a current product catalog. Still other requests may come from a governmental body, not as a regulatory mandate, but as prerequisites for doing business with that agency, such as the NHS eProcurement initiative in the U.K.
These ends users require unique, but overlapping, datasets for every device product. But treating each data submission type as a separate project and ensuring changes and updates get passed along to each recipient can quickly become an unmanageable task.
Together, Reed Tech and 1WorldSync offer device manufacturers a solution to meet the challenges of securely managing all of this data, ensuring it is accurate and up-to-date, and sharing it with the downstream users who need it.
A combined solution from Reed Tech and 1WorldSync brings individual organizational strengths into a single, comprehensive solution bringing you benefits you wouldn’t reap from working with just one of the providers:
Secure, centralized storage of your product data in a fully validated Reed Tech environment built just for device manufacturers and conforming to 21 CFR Part 11 requirements.
Transparent control over the state of each record with instant reports and a complete audit trail.
Access to the GDSN through 1WorldSync, the leading provider of product content solutions and largest certified data pool provider.
Support by experts from both organizations, through a single point of contact at Reed Tech.
Straightforward, competitive pricing and a combined agreement for an easier purchasing process.
Peace of mind with a global roadmap to meet upcoming requirements, including the UDI requirements of EU MDR.
Whether it’s the FDA, NHS in the U.K., GPOs or hospital networks, you can know that the information about your product reaching the recipient is accurate and current.
Hide your stocking stuffers and savor those sips of eggnog..2018 is almost here! A lot happened in 2017. Amazon bought Wholefoods, Alibaba grew in America, companies like Tyson and P&G launched SmartLabel initiatives and so much more.
Technology now penetrates nearly every aspect of our lives and the industry continues to shift in major ways as consumers demand more information faster. Despite uncertainties, this year in commerce shattered records, giving retailers reason to rejoice.
In order to look forward, it’s important to look back at the past year. And in this case, we’re reflecting on 2017 key events that took place that will likely shape 2018.
Amazon: Prime-Time For The Grocery Industry
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.
Last year, shoppers did half of their online spending through marketplaces, and that could rise to two-thirds in five years, according to a report released by Forrester Research (RetailDive 2017).
At the heart of this surge to online purchasing are marketplaces, such as Amazon, Alibaba, Google and Walmart.com which are creating a new era of many-to-many shopping opportunities for the B2B and B2C market.
“We look at marketplaces as the new retail battleground,” Jenn Markey, Vice President of Marketing at retail strategy firm 360pi. “For the retailers that embrace them, it creates an endless aisle online without the traditional costs. But even Amazon is experiencing that it can be the Wild Wild West. The challenge is that some vendors are more legitimate than others.” (Retail Dive 2017).
Marketplaces have the potential to help your products reach millions of new, global customers and 1WorldSync has you covered! It’s time for your products to be discovered by more buyers on the world’s largest marketplaces.
Walmart and Google Partner To Make Shopping Easier
Google and Walmart recently announced a new partnership whereby Walmart customers will be able to access hundreds of thousands of products from the company’s shelves via the online retailing service Google Express, an online marketplace where customers can purchase and set up delivery from stores like Target and Walgreens (Walmart 2017).
Walmart products will also be available through the Google Assistant and Google Home smart speaker, which competes with Amazon’s Echo. Walmart’s network of 4,700 U.S. stores and its fulfillment networks offer a competitive differentiator over Amazon offering attractive omni-channel options including click-and-collect while Google has deeper artificial intelligence (AI) expertise and a huge pool of new data which would allow them to leverage personalization through targeted ads.
A Look Back & A Look Forward
Are you committed to your product journey that will drive tomorrow’s results? On December 6th, join industry leaders from 1WorldSync for a compelling webinarand catch-up on industry trends and game-changing events that occurred in 2017 and get a preview of what you need to do to be ready to drive sales and top-line growth in 2018.
Product data is one of the most valuable assets that a supplier owns. Today we live in an e-Commerce world where suppliers must provide their product data to dozens, if not hundreds, of trading partners. These trading partners take-in the product data, repurpose it, and display it on numerous channels for end-consumers to view, research, and purchase.
Suppliers often have limited control of “how” trading partners display product data (beyond a supplier’s own website), but suppliers must have control of “what” gets displayed. This is extremely important because the quality of product data, or often the lack thereof, directly impacts the brand image in the eyes of a buyer.
Consumers today expect – not just appreciate – rich and trusted product content regardless of where they view it. Suppliers that invest in providing rich and high-quality product data benefit by creating a “good” customer experience – leading to brand loyalty and more sales. Remember that “Data is King” but also that “Data is Your Brand”!
Challenges of Providing Quality Product Data
Many suppliers understand the importance of product data, however, most struggle with managing it. A Forrester study showed 86% of brands want to excel at customer experience, but only 27% of brands qualify as “good” in the eyes of their customers (Forrester – The US Customer Experience Index, Q1 2015). A “poor” customer experience is usually the result of poor product data. So why is product data so hard to manage?
Here are some common challenges that suppliers experience when managing product data:
Stored in an ERP system intended for transactional data, and not designed to manage and maintain product data
Stored in many disparate systems that aren’t integrated
Stored and maintained in Excel spreadsheets
Updated using manual processes that are susceptible to human errors
Manually validated or not validated at all
Department updates using manual internal workflow processes
Manually uploads for syndication to data pools (such as 1WorldSync Item Manager) and other trading partners
Not associated with rich assets like pictures, videos, brochures
What is a PIM?
To address these common issues, most large suppliers invest in a PIM (Product Information Management) system. PIM systems are mission critical to create a single “source of truth” to aggregate, validate, maintain, and syndicate product data. The result is high-quality data, efficient data governance processes, and automated data syndication. These are huge benefits that ultimately help improve brand image and customer experience – things any supplier would be pleased by. Unfortunately, PIM systems traditionally cost $400k to millions. This has made it cost prohibitive for most suppliers to reap the benefits that come with a PIM system.
Introducing PIM Lite for Product Content Syndication
What is PIM Lite?
Long-time partners, 1WorldSync and Innovit, have joined forces to introduce PIM Lite. PIM Lite is a pre-configured, entry-level PIM system for:
Small to medium suppliers (revenues under $1B) – Organizations that do not have the budget to afford a complex, highly-configured PIM system
Large suppliers where budget is gone – Organizations with limited funds left in the current budget cycle
Suppliers that prefer OpEx vs. CapEx – Organizations that desire a lower cost software subscription model with predictable cash flows
What are the benefits of PIM Lite?
PIM Lite brings immediate value by helping suppliers improve product data management processes. Benefits include:
Eliminating spreadsheets, manual processes, and redundant data entry
Establishing a “source of truth” for product data and content relationships to manage and maintain product data in a single location.
Automating import of product data
Improving data quality with pre-configured validation rules.
Advancing data governance with basic PIM/MDM workflows and automating processes such as new products and product changes.
Syndicating validated product data thru an automated M2M XML connection to 1WorldSync Item Manager, and easily exporting product data to XML, Excel, PDF, CSV.
What is the cost of PIM Lite?
Fully installed, pre-configured PIM Lite system starts at $100k for Year 1 (includes implementation, software and “hybrid cloud” hosting), and $45k for subsequent years (includes software and “hybrid cloud” hosting).
The Internet has clearly changed the way we do business and by 2020, global online business-to-business retail sales will be more than double that of consumer retail, according to growth experts Frost & Sullivan, accounting for $6.7tn of revenue (The Drum 2016).
At the heart of this surge to online purchasing are marketplaces, such as Amazon, Alibaba, Google and Walmart.com which are creating a new era of many-to-many shopping opportunities for the B2B and B2C market.
In fact, last year, shoppers did half of their online spending through marketplaces, and that could rise to two-thirds in five years, according to a report released by Forrester Research (RetailDive 2017).
Trust & Transparency Determines a Marketplace’s Success
Marketplaces offer a whole new world of opportunities for wholesalers, retailers and consumers and there are many advantages of marketplace platforms.
However, marketplaces are only successful if they are able to build connections and create experiences between sellers and buyers.Trust is the fuel behind the fire, ultimately determining the success of marketplaces.
1WorldSync believes that trust and transparency are key components that account for a successful marketplace. What draws consumers to a marketplace is how the marketplace manages trust. A certain level of trust is required for any transaction to take place.
As a leading provider of product content solutions, 1WorldSync helps brands and suppliers organize their product content according to marketplace specifications and gets their products listed and in front of millions of new shoppers.
To Marketplace, To Marketplace: A Definitive Guide to Understanding Marketplaces
Marketplaces are dynamically changing in real-time, thus it is important than ever to understand their nuances. Download our brand new e-book and learn more about:
The basics of marketplaces
How have marketplaces evolved
The importance of marketplaces & how they benefit both sellers and buyers
How can marketplaces succeed
How 1WorldSync showcases your presence in marketplaces
No single formula, algorithm or crystal ball can tell you for sure when and why each individual customer will make a purchase.
However, it’s clear that having a clearly defined omni-channel strategy is key. The word ‘omni-channel’ has been a buzzword the past few years, but what does it actually mean?
According to the dictionary omni-channel denotes or relates to a type of retail that integrates the different methods of shopping available to consumers (e.g., online, in a physical store, or by phone).
HubSpot defines it as: “the ability to deliver a seamless and consistent experience across channels, while factoring in the different devices that consumers are using to interact with your business.”
Key to Omni-Channel Success: Product Content
Regardless of your definition, the key to success in omni-channel retailing is product content. Consumers rely on access to information about products they are considering purchases. Thus, the way businesses inform, educate and engage customers and consumers using product information must be robust and accurate.
Trusted product content is king when is comes to delivering a consistent experience across channels. The quality of a product matters less to a consumer than the quality of the product content.
Product content that includes images, information, and data about the product is playing a larger role in brands’ omni-channel effectiveness. Today, consumers are leveraging product content across the path to purchase for informed data driven decision-making.
To satisfy a consumer’s quest for information, brands must ensure that the right product content is available across channels, including online, mobile, and in-store. To master omni-channel commerce, retailers must create and distribute product content across channels.
Product content includes:
Product images (including a variety of formats, resolutions and angles)
Product highlights (romance copy, directions, warnings and marketing claims)
The role product content plays in a brand’s omni-channel effectiveness is rather straight-forward:
Product images and information are necessary to engage with consumers across the path to purchase.
Product content is essential to meet retailers’ requirements so they can market and sell products across channels.
Product data is used to automate and feed internal systems (e.g. warehousing, transportation, ordering, etc.) to ensure operations can meet demand profitably.
The Struggle is Real for Omni-Channel Retailing
However, the struggle is real when it comes to success with omni-channel commerce. According to 1WorldSync’s report ‘Charting a Course for Global Commerce’ found that 80% of merchants struggle to aggregate and distribute complete, consistent and trusted product information across all channels.
The increasing detail required for product content is not the only factor adding to the complexity.
Brands owners’ challenge in providing this content – quickly and cost-effectively – is made more difficult by the internal silos in most companies. In any given organization, product images might be managed by Marketing, product dimensions by Category Management or Logistics, ingredients by R&D and other details by yet other departments.
To transform product content from an obstacle to an omni-channel advantage, brands can follow these best practices.
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. This siloed structure inside an organization can result in a fragmented customer experience. Silos must be broken down. There is no longer such thing as in-store merchandise vs online merchandise. The channel is different, however the product content supporting the product remains the same. Thus it’s more important than ever to have a holistic strategy for consolidating and distributing product content across the organization.
Leverage 1 Solution to Enable Omni-Channel Retailing: You cannot keep up with the ever increasing demand for product content, unless you have a holistic strategy 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.1WorldSync’s Omni-Channel solutions helps leading retailers capitalize on product information to drive conversion. 1WorldSync works exclusively to feed companies like Amazon and Walmart GDSN and eCommerce data. Additionally, 1WorldSync customers can publish and make updates to their 1WorldSync data pool product information and enrich their product information for cross-channel commerce, enabling global content distribution and syndication for all your product information.
Watch our video below and learn how you can organize for cross-channel sales growth!
As Halloween passes and the smell of Pumpkin Spice surrounds you, you see Christmas decorations appearing in stores. We say it every year, “Already, it’s the beginning of November?” Stores seem to remind us earlier and earlier every year that Christmas is coming.
The shopping season has already kicked off, 30% of shoppers plan to do holiday shopping between Halloween and Thanksgiving (Forbes 2017). It is no longer a Friday & Monday sales event, but a week plus long shopping extravaganza, online and in-store.
As the Christmas decorations light up the streets and stores. We get ourselves ready for family dinners at thanksgiving. Retailers are preparing for their biggest few months of the year with what started as a single shopping day in Black Friday and has transformed into over a week of consumer frenzy shopping.
For years, the Black Friday trend was huge competition for retailers to provide the best deals to bring consumers in the store. Consumers would burn off the prior day’s feast by fighting through crowded lines, battling traffic and in many cases darting into store after to store to avoid the cold weather.
Lazy Black Friday
Why would you go through that when Siri and Alexa can do it for you? Over the past several years Cyber Monday has become the online version of Black Friday shopping. Many thought it would only be a trend, but online holiday retail sales will grow by 12% in 2017, accounting for over one-quarter of total US e-commerce sales for the year (Forrester 2017).
We used to wake up from our food comas at 5am in order to make it to the many stores who would open early or even open on Thanksgiving Day. With the growth of online shopping, many stores have begun the opposite trend of staying closed on Thanksgiving in-order to focus on online sales.
Consumers are no longer relying on Black Friday to get their shopping done as there are an abundance of online specials enticing them to stay at home. Online holiday sales are predicted to break the $100 billion mark in 2017 after Cyber Monday 2016 became the biggest day in the history of U.S. e-commerce and 2017 could top that with a predicted $5 billion in sales. (Adobe 2016).
No matter if you stay in and shop online or venture into the stores this year, retailers will do everything they can to keep you shopping the entire season.
Compete With Trusted Product Content Consumers Can Count On
60% of shoppers use their phones to do research even when in store to look up product information, do price comparisons and check online reviews (Retail Dive 2017). Consumers expect rich and trusted product content on all channels: desktop to mobile. Getting accurate and detailed product information in front of consumers is crucial.
1WorldSync believes that trust and transparency are key components that account for a successful transaction.
As a leading provider of product content solutions, 1WorldSync helps brands and suppliers organize their product content and gets their products listed and in front of millions of new shoppers.
1WorldSync helps you easily publish your product content to key marketplaces such as Walmart and Amazon by:
Streamlining the item setup process with 100% accurate data and complying with industry standards.
Gaining exposure and managing all your product information via one solution.
Reducing operational time while increasing your online presence and penetrating new markets.
Are you prepared to get your products selling before the holidays?
It’s not too late! 1WorldSync can help you get your products on Walmart & Amazon!