5 Top PIM Challenges and Opportunities In The Age of Omnichannel Retailing
Tags: marketing, ecommerce
Published: 2023-05-25 14:56:10

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<p>Understanding top PIM challenges and opportunities is a survival hack for retailers who want to augment their resilience for business, especially in the era of omnichannel retailing. But why is omnichannel retailing a big deal in the first place? This approach makes it seamless and convenient for buyers to shop via any device or platform, wherever and whenever they want. In fact, 80% of customers prefer omnichannel retailing because it offers seamless communication between them and brands.&nbsp;</p>
<p>However, while a <strong><a href="https://gepard.io/pim-solution">PIM solution</a></strong> streamlines data management, analysis, and decision-making processes as an integral component of omnichannel retailing, the incorporation has its share of drawbacks and opportunities. This article highlights top PIM challenges and opportunities in detail to help you deliver the best possible customer satisfaction. Keep reading to learn more.&nbsp;</p>
<h2><strong>What is </strong><strong>PIM Solution</strong><strong>?&nbsp;</strong></h2>
<p>A PIM solution is a cutting-edge software system that serves as a unified product info database, allowing companies to easily manage product-related content, enrich, and in a few clicks distribute it across multiple channels. A PIM system can handle a wide range of commodity details, from meta descriptions and specifications to pricing, images, and videos. For 65% of organizations, implementing PIM product information management in eCommerce strategies ensures the consistency, accuracy, and efficiency of commodity details across all channels.&nbsp;&nbsp;</p>
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<p>Omnichannel retailing is the future of eCommerce business, given that 73% of customers shop on more than one channel. This approach allows retailers to connect their customers with a seamless and consistent shopping experience across all sales channels. However, for this strategy to yield a positive ROI, retailers should effectively manage their commodity details and make it available across all channels in real time. This is where PIM integration comes into play. PIM solution enables companies to deliver accurate and up-to-date commodity details across all channels for a consistent and harmonized customer experience. A PIM solution can also enhance efficiency and provide valuable insights into commodity performance across different sales channels.&nbsp;</p>
<h2><strong>5 </strong><strong>Top PIM </strong><strong>Challenges In Omnichannel Retailing&nbsp;</strong></h2>
<p>As an eCommerce retailer, staying updated on PIM future trends, including the challenges the PIM solution can present, is essential. By understanding top PIM obstacles beforehand, you can proactively mitigate them and establish an encompassing PIM strategy that aligns with your business goals.&nbsp;&nbsp;</p>
<p>That said, the top PIM challenges to be aware of in omnichannel retailing include the following:&nbsp;</p>
<h3><strong>Top PIM </strong><strong>Challenge #1: Ensuring Data Consistency And Accuracy In </strong><strong>PIM Solution</strong></h3>
<p>Ensuring data accuracy and consistency in a PIM solution can be an uphill task for many reasons, including human errors. Automating business logic or data validation rules on large sets can also be a top PIM challenge, calling for a manual review. This can result in more errors and inconsistencies in the PIM solution.&nbsp;&nbsp;</p>
<p>Inaccurate or inconsistent PIM data quality can take a toll on customer experience in many ways. For instance, a customer will likely leave a negative review if they receive a product that doesn&rsquo;t fit the images, descriptions, or advertising claims listed at the point of purchase.&nbsp;</p>
<h3><strong>Top PIM </strong><strong>Challenge #2: incorporation Of </strong><strong>PIM Solution</strong><strong> With Multiple Systems And Platforms</strong></h3>
<p>A PIM investment yields better outcomes when the software integrates seamlessly with other tools and systems. However, integrating your PIM solution with internal or third-party business applications can be challenging due to the complexity of the process. Typically, all software systems and platforms have their own APIs, data structure, and incorporation requirements, which can hinder effective communication between them and the PIM tool. Other top PIM challenges when it comes to incorporation with multiple platforms include:&nbsp;</p>
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<p>Outdated technology in legacy systems can be incompatible with modern PIM functionality</p>
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<p>Managing new workflow and processes in a PIM solution comes with a steep learning curve&nbsp;</p>
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<p>Although the incorporation may be a top PIM challenge to many companies, API and other incorporation tools are key players in enhancing the overall success of your eCommerce PIM software. This is because APIs provide a standard way for applications to communicate and exchange data in real-time. At the same time, incorporation tools improve data accuracy by ensuring the information flow across all systems connected to the PIM solution is up-to-date.&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Challenge #3: Scalability And Flexibility Of </strong><strong>PIM Solutions</strong></h3>
<p>Another top PIM challenge in omnichannel retailing is scalability and flexibility are critical factors to consider when evaluating different PIM software examples. Ideally, a highly scalable and flexible PIM solution will help your eCommerce business manage large data volumes as it grows and expands. Most importantly, PIM scalability can extend to supporting multiple currencies and languages, when branching out into new overseas markets.&nbsp;</p>
<p>Also, as the business expands, the PIM solution should give you the flexibility of adding and integrating new systems and sales channels to keep up with the shifting market needs.&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Challenge #4: Compliance With Regulations And Industry Standards For </strong><strong>PIM Solution</strong></h3>
<p>One of the benefits of a PIM solution is that it can help enhance compliance with industry standards and regulations by centralizing commodity details management. However, PIM compliance can also be a top PIM challenge, especially if data privacy and security concerns are not addressed properly. You might need to implement a robust data governance process that extends to quality control. Another way of solving this top PIM challenge is by establishing clear roles and responsibilities for commodity details management and maintenance.&nbsp;</p>
<p>On top of that, the PIM sync software must comply with industry-specific standards and regulations at local, regional, and global levels. For instance, a PIM for manufacturers should comply with the EU&rsquo;s REACH regulation.&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Challenge #5: Efficient Collaboration And Workflows In </strong><strong>PIM Solution</strong></h3>
<p>Typically, a PIM service involves various teams, departments, and stakeholders of an organization. All these parties need to work together effectively and communicate efficiently to achieve business goals. However, PIM collaboration can be challenging due to workflow complexities that include multiple steps, such as data entry, validation, and enrichment. Also, data quality inconsistency can be a top PIM challenge, hindering seamless and accurate collaboration between teams.&nbsp;</p>
<h2><strong>5 </strong><strong>Top PIM</strong><strong> Opportunities In Omnichannel Retailing</strong></h2>
<p>Despite the challenges that a PIM solution presents in omnichannel retailing, the benefits of the software outweigh its bottlenecks. Here are the top PIM opportunities that you should take advantage of to grow your eCommerce business to unprecedented heights:&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Opportunities #1: Enhanced Customer Experience Through </strong><strong>PIM Solution</strong></h3>
<p>PIM database management facilitates accurate and consistent commodity details across multiple sales channels, enabling retailers to create a seamless shopping experience. PIM solution incorporation means buyers will find the exact product details, whether images or descriptions, on all shopping platforms.&nbsp;</p>
<p>Moreover, PIM-enabled customer experience extends to personalization and targeted marketing. With a PIM product tool, companies can issue personalized product recommendations based on purchase and browsing history.&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Opportunities #2: Streamlined Operations And Increased Efficiency With </strong><strong>PIM Solution</strong></h3>
<p>A PIM process can help omnichannel retailers streamline operations and enhance business efficiency by automating manual data management tasks that are prone to human error. This includes data entry, data validation, and data enrichment to improve quality consistency.</p>
<p>PIM efficiency also includes capturing relevant customer data for in-depth analysis and generation of real-time insights into buyer preferences or behaviors. This top PIM opportunity can help you improve decision-making processes for improved overall business resilience.&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Opportunities #3: Expansion To New Channels And Markets Using </strong><strong>PIM Solution</strong></h3>
<p>Having the best PIM solution means greater flexibility to adapt to new sales channels, such as mobile applications, social media platforms, and third-party marketplaces. This is because PIM features can be deployed to endless consumer channels without customization or complex incorporations.</p>
<p>You can also deploy PIM in new markets by using the tool to localize commodity details. PIM solution localization capabilities include support for local currency, language, and measuring units, eliminating the need for translation or redundant manual data entry.</p>
<h3><strong>Top PIM</strong><strong> Opportunities #4: Improved Brand Management And Reputation With </strong><strong>PIM Solution</strong></h3>
<p>Top PIM features, such as commodity deta syndication, allow retailers to distribute accurate and up-to-date information across multiple sales channels, enhancing consistent brand messaging. PIM syndication also reduces the risk of errors and continually enhances customer experience to paint a consistently positive brand image.&nbsp;</p>
<p>Another top PIM opportunity for enhancing brand reputation is the in-built functionality of managing customer feedback and reviews. With a PIM solution, you can access impactful insights into customer pain points and concerns and quickly identify improvement areas before the brand reputation is tainted.&nbsp;</p>
<h3><strong>Top PIM</strong><strong> Opportunities #5: Leveraging Data Insights For Strategic Decision-Making Using </strong><strong>PIM Solution</strong></h3>
<p>Most software systems by top PIM solution providers can gather customer data and analyze it for valuable insights. This can drive prudent, data-driven decisions about product development. Data-driven insights from a PIM solution are also handy in identifying emerging market trends and opportunities. For example, retailers can benefit from a better understanding of commodities and services that sell well or perform dismally and forecast their demand in targeted markets.&nbsp;</p>
<h2><strong>Conclusion&nbsp;</strong></h2>
<p>As a future-oriented eCommerce retailer, understanding what is PIM beyond the standard definition is important to retain a competitive edge. This includes the top PIM challenges to expect in omnichannel retailing, such as ensuring data consistency, scalability, and incorporation with multiple platforms. It would help if you also seized top PIM opportunities, such as enhanced customer experience, streamlined operations, and the ability to adapt to new sales channels.&nbsp;</p>