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.
- 81% of consumers scour through product information online to find or verify the data about a product they are considering.
- Four in 10 (42%) shoppers say they’ve given up on an online purchase because they didn’t have enough information on the purchase.
- 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?!
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