Product Content Management In Your Rearview: A Look Back And A Look Forward

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.

  1. 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.

If you want to get your products discovered by Google and Amazon, learn more at http://solutions.1worldsync.com/ProductstoAmazon.

  1. To Marketplace, To Marketplace

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.

The 1WorldSync Product Information Cloud helps customers seamlessly list, manage and optimize product content necessary to sell on marketplaces. Learn more at http://solutions.1worldsync.com/getyourproductstomarketplaces.

  1. 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 webinar and 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.

 

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References

  1. “Forrester: Half of online sales occur on marketplaces.” 14 Sept, 2017 <http://www.retaildive.com/news/forrester-half-of-online-sales-occur-on-marketplaces/504913/>
  2. “Walmart and Google Partner to make shopping even easier.” 23 Aug, 2017 <https://blog.walmart.com/innovation/20170823/walmart-google-partner-to-make-shopping-even-easier-heres-how>

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