Tag Archives: Walmart

“Great News for Suppliers: Walmart’s Acquisition of Jet.com”

Consolidation: To bring together (separate parts) into a single or unified whole; unite; combine.

Generally speaking, market consolidation – be it health insurance, airlines or phone carriers – has not necessarily been good thing for consumers. Rather, it’s traditionally meant the potential for future price increases as a result of less competition. But faster than you can click BUY NOW on your shopping app, that’s all about to change. Enter in the biggest news in business and retail – Walmart’s deal to purchase Jet.com, one of the hottest new names in e-commerce. The world’s largest retailer has been getting a lot more aggressive in e-commerce over the past year in the quest to expand its online inventory and set aside $2 billion over the next two years to grow on the web.

The deal could help Walmart become the No. 2 online retailer and position the company for even faster e-commerce growth in the future by expanding customer reach and adding new capabilities. And that’s GOOD NEWS for consumers because according to the folks at Walmart, they plan to win by staying laser-focused on one thing: the customer.

That plan includes adding 1 million products per month, primarily through third-party vendors selling via Walmart.com. And that right there is GREAT NEWS for suppliers. Suppliers that were smart to get into Jet.com now are a part of Walmart’s community and their products will be shopped even more than ever. Not already on board? Then your company could have the potential to be one of those one million products added.

Make it easy and partner with 1WorldSync. Our Catalog1 solution allows suppliers to organize and centralize all of their product information in one place in the cloud. When ready to extend Catalog1 for sales, distribution and compliance, there are a number of value added applications that can be added. Your company’s products can get to Jet.com, Amazon, Google and beyond.

Want to find out more? Download our new eBook, “How Suppliers Can Conquer the Product Information Challenge To Grab the First Mover Advantage,” and gain the competitive edge you need in this every changing, ever growing eCommerce world.

How Shoppable Are Your Products?

According to the National Retail Federation, 73% of back-to-school consumers plan to shop approximately a month or two before school starts. Armed with school supply lists and cranky kids, parents are beginning the annual pilgrimage for folders and number two pencils. But lists have become longer and more specific.  And certainly college-bound students have precise notions about dorm room furnishings and decorations.  A simple comforter will not do.  Enter matching sheets, pillow cases, silverware and fancy lighting.  These shoppers know what they want.

As any growing manufacturer and supplier, your products are your business.  Pure and simple, your success is predicated on getting your products onto as many shelves – and screens – as possible.  And as we’ve seen, customers determine when, where, and how they will interact with YOUR brand.   Consumers search and shop in-store and online, they expect access to richer product information to make informed decisions. To remain truly “shoppable” and competitive, suppliers must deliver on that expectation.  If not – customers will move on to someone who can.   Not convinced?  Take a look at these recent stats.

  1. 81% of consumers scour through product information online to find or verify the data about a product they are considering.
  2. Four in 10 (42%) shoppers say they’ve given up on an online purchase because they didn’t have enough information on the purchase.
  3. 88% of them say that detailed product content is extremely or very important to their purchasing decision.

Yes, product information matters – the quality, the completeness and the accuracy matters.  And as suppliers connect and partner with multiple retailers, the need for accurate, complete product information is even greater.  For example, consider Google’s 2016 mandate for GTINS (Global Trade Item Numbers which help classify and display products on Google Shopping) now needed for all products.   As of May 16, 2016, Google will disapprove relevant products that don’t meet the GTIN requirements, so it’s critical that suppliers double check that product data is correct and up to date. And according to Google, the financial implications can be significant:  “Merchants who’ve added correct GTINs to their product data have seen conversion rates increase up to 20%.”

The Google GTINS mandate demonstrates that they understand that product content (descriptions, feature bullets, images, videos, reviews) is a critical factor in driving conversion.  Consumers demand to know exactly what they are buying – and the right content makes for a great consumer experience.

At 1WorldSync, we’ve been helping thousands (21,000+ globally) of suppliers and brands to align on the product information governance strategy to apply GTIN standardization, AND implement for Google and beyond.  We work with our customers to build scalable processes to capture their product information and scale globally across the portfolio of brands in an effort to ensure the highest impact, consistency, and levels of quality.

1WorldSync’s Omni-channel solutions helps suppliers and brand owners get their products to Google, Amazon, Walmart and beyond: mobile, desktop, storefront.

How shoppable are your products? Download are latest eBook “5 ways to grow your top line by making your products #SHOPPABLE everywhere?!

Download our free eBook on Shopability today!

Summer Release Sneak Peek!

Summer Release Sneak Peek

1WorldSync will be launching our Summer release later this month. We’re excited to debut our expanded capabilities to support your Omni-Channel and Healthcare product information initiatives. The Summer Release features new apps and solutions that include:
 
  • Foodservice Product Content Marketplace that will allow foodservice manufacturers to highlight their products to the long tail of foodservice distributors.
  • Digital Catalog which allows you to take your product content in Catalog1 and create a rich online product catalog that can be used by your internal sales and customer service teams, browsed by your customers, and leveraged by your marketing teams.
  • And several new apps that allows you to get your products Google, Walmart, Amazon and beyond!

Stay tuned for more information about our Summer Release!

Catalog1 and Communities

The capabilities of 1WorldSync’s Product Information Cloud are growing!  Since December, we have been actively releasing new functionality to Catalog1 and Communities.

Catalog1, a solution to distribute content easily with a rich contextual GUI, look and feel is shared with TAG: an attribute rationalization and reporting tool that allows users to interact with industry, recipient and regulatory requirements called “playlists.”

Our latest release introduced:

  • Smart Label Solution offering a seamless and efficient way to fulfill the industry initiative requirements and easily generate a Rich Product Content page for all of your products.
  • 1WorldSync Communities “Chatter” provides the ability for customers, industry groups, like communities to collaborate, learn, inform and relate on key topics and initiatives.
  • Get your products to Google Manufacturer Center to meet their online requirements, with Catalog1
  • Click here to view a demonstration of key Winter Release capabilities

Please reach out to businessdevelopment@1worldsync.com with any questions about adding Catalog1, Content1 or Chatter capabilities to your existing subscriptions.

What Makes a Trend… a Trend?

Rubik’s Cube.  Leg Warmers.  Juicers.  Boom Boxes.  Atari, Tivo, Game Boys. Chances are good that you bought in to one of the many product trends from the last couple of decades.  After all, whether its fashion, toys, gaming or foods (think “artisanal” cheese), who can resist jumping on a trendy bandwagon?  Admittedly, some trends are best left to the pop culture history books, but today – in 2016 – we’re seeing a definite trend towards trends becoming more than trends (did you get that?).

Consider eCommerce.  It was only 15 years or so ago that online sales were left to Amazon or eBay. For others in retail, online shopping was a nice add-on.   The theory was that the consumer wouldn’t abandon the brick and mortars.  Consumers wanted to see, touch and hold their purchases. So what was considered a trend in the year 2000 (15 ½ million households shopped online in September 2000), has evolved into a full-fledged way of life (spending a total of $4.2 billion online – an average of $272 per person).  Today, consumers are spending an average of $2,466 per person on online purchases.  Even traditional grocery items are added to the list, with online grocery growing at nearly twice the rate of any other industry.

Convenience, value and the proliferation of mobile devices have been key drivers in changing consumer shopping behaviors.  So what’s a growing retailer to do?  How can retailers capitalize on current eCommerce buying trends, while building for the future?

  1. Invest in digital technologies that enhance the Omni-Channel experience whether in-store, online or anytime. For example, consider tools that enable online chats and video merchandising to help describe and demonstrate how an item looks or works.  Curated content, suggested buys & upsell, on-line shelves and eCarts are varied components of an engaging on-line shopping experience. Walmart recently announced making a move to marry the retailer’s online and mobile assets with its 11,500 stores worldwide..  According to Fortune Magazine, “Walmart said it was merging to the two divisions to create a new unit called ‘Walmart Technology.’ Walmart pointed to the recent launch of its Walmart Pay mobile payment service as an example of the kind of collaboration between the teams that it hopes the merger will spur.”
  1. Offer a convenient shopping experience that responds to the consumer path to purchase. One-stop-shopping convenience is no longer about selling everything from a single supercenter or website. It’s more profitably targeted at giving a seamless Omni-Channel experience to shoppers who are budgeting for both time and money. Consider retailers that are offering services that combine their in-store and digital capabilities, for example ‘click-to-curb’ for groceries, ‘site to store’ at mass retailers or virtual dressing rooms for apparel.
  1. Content, content, content…did we mention Content?

We encourage retailers to focus on enhanced content and content distribution strategies to provide differentiated levels of product information for customers and consumers.  As research indicates, rich content, more content and trusted content will make a consumer click BUY NOW and continue as a repeat customer online and in-store.  Conversely, if a consumer cannot see a picture of the product they want to buy…they go elsewhere, and likely never return.

What sets a seller of goods apart from competition is their ability to give the buyer what they want, how they want, where they want it, when they want it.  Omni-Channel is not a trend – it is a full-fledged way of commerce and consumerism: yesterday, today and tomorrow.

Top 5 Reasons to attend 1WorldSync 2016 Annual User Group, Americas

#RoadtoAUG

At 1WorldSync, we are dedicated to providing our community with collaborative platforms for open engagement and industry alignment. Input from the 1WorldSync community drives our efforts to provide collaborative platforms that deliver information and interactions that benefit our customers. The WorldSync 2016 Annual User Group, Americas provides this platform for our customers to engage, interact and share best practices, community needs and encourage user-lead information sharing. Below are my personal Top 5 Reasons to attend this year’s Annual User Group, Americas.
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4 Steps to making your product information Omni-present for Walmart.com and Beyond

Just as the leaves are turning from green to auburn brown this Fall, our attention turns to the holiday season. The time of the year when consumers are getting ready to spend for the Holidays.  The leaves aren’t the only thing changing, however,  shopping habits have been immeasurably impacted by conscious consumers and smart mobile devices.  According to Andreessen Horowitz:

By 2020 over 80% of adults on earth will have a smartphone, and most of them preferring to conveniently discover and purchase products from their laps or the palm of their hand.

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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!

Shopping Bags

The Next Great Transformation in Retail

digital shoppingThe Harvard Business Review ran a great blog post: The Future of Shopping. The post pointed out that every 50 years or so, retail undergoes a major transformation.

digital shoppingEvery 50 years or so, retailing undergoes this kind of disruption. A century and a half ago, the growth of big cities and the rise of railroad networks made possible the modern department store. Mass-produced automobiles came along 50 years later, and soon shopping malls lined with specialty retailers were dotting the newly forming suburbs and challenging the city-based department stores. The 1960s and 1970s saw the spread of discount chains—Walmart, Kmart, and the like—and, soon after, big-box “category killers” such as Circuit City and Home Depot, all of them undermining or transforming the old-style mall. Each wave of change doesn’t eliminate what came before it, but it reshapes the landscape and redefines consumer expectations, often beyond recognition. Continue reading