PIM Features.
Product Attributes
PIM system stores the data about products or SKU's in what are called attributes. Attributes are "fields" that contain information about specific product properties like product description, product class, product specifications, price, product length, width, depth, weight and more. Attributes can be defined from PIM settings, as needed. These attributes contain the information that will be sent to your channels or used on your websites, brand portals or e-commerce sites. Attributes can also contain structured "lookup" data, even be assigned data masks for data validation. The PIM even has unique collections of attributes for media that can contain product "images" "documents," and "videos" allowing you to store and serve all of your digital assets directly from your PIM; this eliminates the need for a separate "DAM" (digital asset management) solution.
PIM Views
PIM Views are predefined formats for displaying PIM data, used to limit access and define data mapping to attributes or fields. They can provide either read-only or full control over the data and are typically assigned to user groups or specific outputs like Brand Portals, eCommerce Sites, Channels, or exports. These outputs often require data restrictions or mapping, and assigning a view controls the data access for each channel or output.
Views in PIM are created visually in the management interface, allowing selection of attributes and products either manually or through rules. They regulate access to product data, including attributes and product collections, ensuring controlled and restricted information flow. Applicable to various entities, views manage both the editing and consumption of product information by users, channels, and external processes interacting with the PIM.
Channels
PIM Output Channels are external systems that receive data from the PIM, while PIM Input Channels are those that send data to it. PIM Views enable control over what data a Channel can read or write. Channels facilitate both data retrieval from and submission to the PIM. The most robust method for this data exchange is through the PIM API. Alternatively, data can be transferred via imports and exports, either as files or structured data through custom endpoints tailored for specific data segments. Structured data imports and exports support a full scripting language that allows the evaluation and assignment of values to the attribute values being imported or exported. Complex conditions and data manipulation can defined allowing for the import or export data to be conditionally modified based on the import or export data and business rules.
Product Categories
When attempting to manage products using spreadsheets and online document collaboration, these product spreadsheets usually become a mess and difficult to manage properly. Items in different product categories usually require different item attributes. Shoes do not have the same product attributes as pants and both are entirely different than power tools. A correctly configured PIM may have hundreds of product attributes. When searching for shoes, users will expect to be able to filter for attributes that are meaningful to them. For example, color, size, style, and material. when searching for a power saw or drill, the attributes that the user wants to filter on would be completely different. In addition to being able to assign products to hierarchical categories to keep similar products grouped together, The PIM allows the definition of filterable attributes by category. The filterable attribute data is even provided to connected channels using the API. This makes it easier for an exceptional buying experience.
Product Variants
Products come in all different colors, sizes, and shapes with varying inter-relationships. With the PIM, defining product variants is as easy as selecting the variant attributes. Properly defined variant data provides channels with the product information and options that customers will need for an enriched product experience. Product Variants can be defined in the PIM based on multiple product attributes allowing the consumer to perform one or more selections related to a product to identify the product variation they desire. An example of this would be "shirt size" and "shirt color". Each variant attribute and corresponding variant value creates a product variation matrix This matrix corresponds with specific product SKUs. These individual SKUs define the products in the matrix.
Product Relationships
Product relationships are important. They represent the opportunity for additional product exposure, cross-sell, upselling, and supersession. Properly defining your product relationships in your PIM maximizes cross-sell and upsell opportunities. The PIM allows you to define unlimited relationship types, and then easily populate and maintain the underlying product relationship data. Examples of product relationship data would be OEM cross-reference information or a list of products that customers also buy after looking at a specific product. A List of common replacement parts or compatible add-on products. Another type of product relationship data may be a list of the competitor's SKU numbers that should trigger a display of your product.
Product Data Transform
Data transformation is the process of converting data from one format to another, typically from the PIM system's standard format into the required format of a destination system or external channel. With PIMinto, data transformations are defined using the administration interface and applied to a channel. There are two methods to achieve this. The first is Views and the second is import and export script language. Data can be formatted for Shopify, Google Shopping, Magento, Amazon, and more. Custom transformations can be easily created and applied as they are needed. Data can be sent in almost any format including TXT, CSV, EXCEL, JSON, XML, and more.
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Blogs & Views
What Is a Product Line Sheet?
For wholesale business, product line shit is one of the most essential tools. Its main purpose is product presentation. With a proper product line sheet, you may convince clients to purchase your products. In previous years, line sheets for products were designed with tools like PowerPoint or Photoshop. Still, with time, such practices became ineffective, and creators decided to make changes and implement new methods of creating product line sheets. A product line sheet is a tool for presenting your product. It could be created in hours or even minutes, but it will contain all the needed information about products in furniture, jewelry, clothes, accessories, and other categories. If we talk about B2B and B2C applications, line sheets should be the main tool for presenting your products. If you are using PIM for E-commerce for your business project, you should rely on product line sheets and use them as main presentation tools. What Is the Purpose of a Line Sheet in Marketing? In marketing, the main purpose of using a line sheet is to present your product to a potential buyer. When buyers decide to purchase from new brands, it’s always risky. People want to ensure that the product they purchase matches their expectations, and it’s up to you to create a proper presentation. To ensure your product’s description has all the needed information and is shown from the best angles, consider using a marketing sheet. You must form your sheet from the most essential elements, including: Brand logo Images in a “lifestyle mode” Default product images and details about it (size, price, color options) “About the brand” part and its mission Terms of sales Now, when technological progress opens new perspectives for creators, they compose digital presentations to showcase the final product. When you do a digital presentation, you can adjust images, select the size, change colors, and work with other settings to make the line sheet catchy and informative. What Is the Difference Between a Line Sheet and a Sell Sheet? Unlike sell sheets or catalogs, line sheets are simpler and have no frills. They are always straightforward and needed only to guide potential customers through the product. When clients look at the line sheet, they have all the needed information about the product and know how to place an order. What remains the same for both sheets is the information update. Since line sheets are a part of your e-commerce business strategies, they should always be up-to-date. Who Uses Product Line Sheets? Product line sheets are usually used by wholesalers, fashion designers, and retailers to create a proper presentation of the product. They literally use them as a template for proper product presentation. With proper product line sheets, people can understand what they are dealing with, what the product's metrics are, etc. What Is a Line Sheet in a Retail Example? Below, you can have a look at several line sheet examples in retail. Example 1 Basic examples contain a header with the brand logo and name, and information about the season. Also, there is some contact data. Next goes the product information: Clean, high-resolution images. Unique identifiers that identify styles for products. A brief description with key features and other details (materials, colors, etc.) Available sizes Wholesale price A minimum quantity in one order Order form. A separate page where buyers can select what product to buy. Example 2 An accessory line sheet contains the brand name, the collection title, and contact information. After that, the line sheet example contains the following information: Product names and style numbers. High-quality images. Options to choose different colors and materials. Order Requirements. What Is a Line Sheet in Fashion Example? Also, have a look at the example of a line sheet in fashion. Line sheets are crucial for sales and business deals, so fashion experts make them informative, so the buyers will have all the needed information. Example 1 An apparel line sheet example contains basic elements like the brand name, logo, and header. It also includes an informative description with key features and information about the material, size range, wholesale price, style numbers, and product photos. Also, the line sheet example must contain quantities for minimal orders, as well as the delivery time. Example 2 The second example of a line sheet in fashion is about accessories. It doesn’t contain any significant differences as all the core parts remain the same. You have a header with the brand logo and collection name. You have the information about available colors and sizes, information about used materials and styles. Also, the line sheet in fashion should mention the wholesale pricing and the suggested retail price. Finally, don’t forget to mention minimum order size. What Is a Line Sheet for Jewelry Example? Check the examples of line sheets for jewelry. We provide the description of two different examples, so you can understand the difference. Example 1 Line Sheet for jewelry consists of a header with the title and brand info, style numbers, and product images. The product description contains all the core information about the type of metal, used gemstones, the weight of the carats, and additional features (if present). Marketers should also include data about length, width, and weight. Such information is extremely important for bracelets and necklaces. Finally, consider mentioning the pricing in the line sheet. Example 2 Another example of a line sheet for fashion jewelry is similar to the first example in that you need to mention basic metrics, carats, the used gemstones, and so on. Also, add information about the available colors and sizes. The pricing information must be mentioned as well. What Do All These Line Sheets Have In Common? Uncover Their Shared Secrets!? What do you think is common in all these line sheets? They all provide detailed information about products, which is extremely important for business. Line Sheets are extremely important because they show potential customers what the product looks like, how much it costs, and how valuable it is compared to similar products.
PIM vs MDM What is the Difference
Since the amount of information in the digital world has expanded, there is always a need to search for effective methods of managing information. At the same time, the quality of the customer experience should remain high. Balancing these two points, companies and brands are in search of an effective information management method. All discussions and comparisons bring us to two basic methods: product information management (PIM) and master data management. They are fundamental in data management as more and more companies select one of them to control product data. Dozens of companies hesitate and don’t know exactly what to choose. Everyone has a different experience, cases, and pitfalls, so it’s difficult to make a choice. Still, we can help you by providing a detailed explanation of both managing methods. You will see how they work, how effective they are for data management, and decide how they can be used for data management. What is Product Information Management (PIM)? Let’s start with product information management (PIM). PIM is a complex software system created to manage data about products. This practice is popular among marketing companies and businesses that sell products. The idea of using PIM is to organize data among distribution channels so the delivery will be accurate and complete. You share the specifications of the product, its lifecycle, sales statement, metadata, and technical requirements, and then accurately deliver it to the customer touchpoint. By doing that, the organization becomes more effective, compliant, and consistent because of simple product information delivery. The following groups are those who need product information management the most: Marketing and sales teams to manage, produce, and actually sell products. Procurement departments to store collected information about the products. Customer care departments to gather complaints and frequently ask questions, product-related requests, and important documents. Research & development divisions as they store technical drawings, essential specifications, and documentation. Suppliers provide additional information about the products, including price, inventory volume, etc. In companies, product information management can be organized via stock-keeping units, technical specifications, product names, and other attributes. When the product information is categorized within the system, a business receives a unified source of truth. Once they have it, it can be automatically distributed through the system via multiple channels. Product information management allows you to share information without delays, maintaining data quality and ensuring there are no issues to ruin the process. How does PIM software work? The purpose of PIM software is to centralize all information about the product and distribute it via multiple channels later. With product information management, you can pull information from various sources and add it directly to the platform. This is extremely important for marketers because they often switch to omnichannel marketing instead of multichannel to stay on top of their niche. Still, even if your company still works with the multichannel marketing strategy, using PIM may be very effective for you. You don’t need to create a marketing package for every channel, implement product information management, and gather all the information. When you need a data update, just change the main records. Later, when you establish new information campaigns and create content, the updated information will be accurately included there. What Are the Primary Functions of PIMS? When we uncovered the main working principles of product information management, it was time to highlight its core capabilities. Data collection. With PIM, you can collect and store information from multiple sources, including databases, EPRs, supplier portals, media systems, and flat files. Prioritize sources and clean the information to integrate it into catalogs properly. Data enrichment. When all information is gathered, marketers and eCommerce team members can enrich it by adding specifications, product descriptions, classification tags, usage data, media files, etc. Specialists also double-check the information, ensuring it’s ready for publication. Publishing data. After the enrichment, you are free to share your data using all the available channels. It means users will see the product information in mobile apps, AI-powered tools (chatbots), social networks, marketplaces, and eCommerce platforms (you may need a PIM e-commerce solution here). If your company successfully implements PIM, you will easily create brand-new catalogs within a few moments. With product information management, it’s also much easier to expand new markets and locales. Since you know where you want to expand and who will be the recipients of your information, you can collect data and then enrich it by adding the needed details. How Do Brands Use Pim? Product information management was successfully integrated by several brands. With this approach, they are able to Update e-commerce listings when the product receives updates. Localize product information for different regions, languages, and communities. Assign projects to content creators (copywriters). Create content plans based on product information. Moreover, we must admit that different organizations and specialists use product information management for different purposes. Role in the company Purpose of using PIM E-commerce managers to send product listings from a PIM system to publishers and syndication platforms. Brand managers Helps them check the accuracy and consistency of the data across multiple channels. Localization and regionalization PIM is needed for effective localization to help prepare data for the market of specific Marketing managers Reduces time to search, find, and collect product information. Sales managers Helps increase cross- and up-selling to make the overall income bigger. Product marketers Requesting and assigning tasks for copywriters, photographers, videographers, etc. Sometimes, they combine PIM and DAM solutions. Category managers Effectively spread data across categories Data governance managers Implementing data governance initiatives inside the organization. Product managers Delivering accurate product data to the marketing team and updating the information if necessary What Types of Product Information Management Are Available Today? Today, we outline six core types of PIM. Each of them can be used to improve the data management in your company, but you have to understand the difference between them. Cloud-based PIM. This approach establishes connections with teams regardless of their location. With that, you can respond to changes and updates faster than usual. Moreover, you will get started extremely fast. When you implement cloud-based product information management into your business, you get better access to the needed data and better control of all processes. On-premise PIM becomes a part of the office infrastructure and is operated through the company’s servers. With this option, you have better control over the stored data, and security is also high. If you have issues with your Internet connection, you can switch to local PIM. Still, this approach has two drawbacks: higher cost and higher engagement of the IT department. Open Source PIM. It’s considered the most cost-effective option, which also has several customization options. This type of software requires better expertise than other solutions. Since it’s the on-premise software, you are the one to control the security, while the cloud-based software focuses on maintaining the security of your data. Industry-specific product information management is created for the specific needs of a company that relates to a specific industry. It’s not a typical case with PIM used for a broad e-commerce business where the main goal is to sell more. A standalone version of PIM can basically function by itself instead of others that remain integrated with comprehensive systems. Integrated PIM software literally works paired with other software solutions like Pimcore, Perfion, and SAP Integration combined with SAP ERP and/or SAP S/4HANA. With this approach, you can combine existing solutions with new ones to achieve better performance and be more effective. With this great amount of options, anyone can choose an appropriate product information management solution and use it to maximize the outcome. Benefits of PIM Now, about the core advantages of PIM for your business. The first plus is that PIM is optimized for centralized product management and catalog generation. With PIM, you access mechanisms of data quality improvement. One of the main advantages is the ability to reduce time-to-market, meaning you have to do less to make your product information appear on the global market. It also means making fewer mistakes when gathering, enhancing, and delivering data via channels. With PIM, you achieve better product information management, which leads to a better customer experience. Customers will trust the information you provide and engage with your products more often. This chain is not over because better customer experience leads to increased productivity. Your business becomes more efficient, fasting up all communication and collaboration processes. When you automatize multiple processes, you can reorganize the working processes, making your team more effective. Everyone will do what they need to do, and the machines will focus on performing regular information management operations. Finally, product information management is good for companies with limited budgets. If you can’t invest a lot in data management, get PIM. You will get your information delivered to the endpoint, but it won’t cost you all the money in the world. What Else Can You Do with PIM? In addition to the advantages of product information management we already described, there are some additional steps you can take to improve your data control. With PIM, data distribution becomes standardized and simplified. You also can integrate data from multiple sources and/or departments to have a wider view of the problem. Another advantage of PIM is the ability to establish workflow management. Control the processes to increase productivity and do more at the same time. Last but not least quality control. Analyze the information you work with and make the best decisions. To ensure the PIM method is effectively integrated into the company’s workflow, consider having training. When users will get used to product information management and understand team goals and tasks, everything will work much better. What is Master Data Management (MDM)? MDM, or master data management, is basically a bridge between systems inside the organizations and the information they need. With MDM, any data-driven digital transformation becomes simpler and more accurate because it now has a single source of data. Master data management is a set of tools and processes that have one purpose: to deliver organized data to keep business operations active. How does MDM software work? Like PIM, MDM’s main purpose is to centralize data. With this approach, people who are responsible for data dissemination will spread it across the organization very fast. However, if PIM’s focus is on product information, master data management operates more information, including data about employees, vendors, and customers, and product information as well. Also, MDM has a higher price tag, and this is where clients may think whether to choose this approach or not. If companies are thinking of investing in this initiative, they should think of organizing their back-end data. If you are not confident about what exactly you should choose, analyze your needs. PIM may cover your needs but cost less. Key Features of an MDM Solution When master data management is implemented, you can easily support end-to-end requirements, ensuring that data quality, data integration, and other requirements are OK. Another feature of the MDM is that it gives your product data visibility and patterns. This is important because later, you can implement necessary corrections relying on the received data. With MDM, you will have a wider perspective on product data, which means you can overview and prepare data for analytical and operational usage. Benefits of MDM The main advantages of MDM are: Providing more clear data for users to analyze. An ability to implement changes in a single area to ensure these changes will remain for other areas. Reducing issues that may later impact business. Identify mistakes in source systems. Checking all data to ensure it is up-to-date and meets the specific requirements. Helps you eliminate data that negatively impacts the operations or slows them down. With MDM, you can control all aspects of business operations. Even if you deal with large amounts of data and need to find solutions quickly, master data management is what you need. PIM or MDM: Choosing the Best Fit for Your Business The decision to use PIM or MDM is usually made by the IT department because they receive tasks to collect, process, and send data according to the company’s needs. People related to business usually select master data management because their work depends on the quality of the received data. Whether the information they get has mistakes (for example, wrong terms used), becomes a big problem. So, to manage a single product view and avoid repeatable misunderstandings, and other issues, the choice is on the MDM. Sill, if you understand that you want to have a complete data overview, you should select PIM. If you need only product data to cover, you should select PIM. MDM has a multi-vector and multi-domain system. In some cases, we can meet single-domain MDM platforms that emphasize product or customer data, and they are programmed to gather information from only one domain. Still, most MDM solutions require a multi-domain system. The PIM solution is needed when it comes to data accuracy. If you need short time-to-market enablement, multiple customer touchpoints, and quick introduction of new products, you should select product information management. PIM Solution for Your Business PIM solutions will suit you if you work with products that have hundreds of product attributes and if your purpose is to deliver data using sales channels and external systems. Also, if your primary goal is to increase sales, product information management is your #1 choice. MDM Solution for Your Business MDM will be a better choice once you have to manage secondary data domains like finances, client data, location data, etc. Master data management allows users to manage data in all forms, from products to customers, enabling you to centralize data across the whole company. Sometimes, people even combine MDM and PIM to achieve better data control since they cover each other gaps and provide better performance. For example, if you need to master data strategy to support user cases, you may need to combine product information management and master data management. It may be quite expensive but at the same time, you won’t care about possible issues in how data is delivered. Conclusion It’s complicated to say exactly what’s best for you: MDM or PIM. To make the right choice, you have to analyze your needs and problems and only then decide what approach is best for you. Also, when implementing the selected approach, ensure you are assisted by experienced specialists who understand your needs and know how to help you realize your ideas. The approach of managing the information inside the business is getting complicated, especially when the market is rapidly growing. Everyone wants to find the most effective tool, but not everyone understands where to search for it. Analyze your case, review each data management solution's pros and cons, and decide. Who knows, maybe you’ll need them both.
Top 10 Best Online Fashion Marketplaces to Sell On
The E-commerce fashion industry is changing, and everyone is excited about how it will look in 2024. Brands want to discover the upcoming trends first and take advantage to maximize sales. Why are marketplaces so popular? Well, they bring colossal income and bring more customers compared to default online stores. For example, in 2022, top marketplaces blew up the industry of online sales by selling goods for over $3 trillion. Can you imagine how much can you earn by selecting the marketplace? Even if you have a small business and your catalog is small, you will still have a serious boost. Keep reading as we will reveal the biggest fashion marketplaces of 2024. You will understand how they work and decide which one to choose. Top 10 Online Clothing Stores Online shopping has the upper hand over default shopping. When we go through online stores, we see some options to choose from. Still, when we open the marketplace, it’s a completely different story. You have hundreds or even thousands of options to choose from. You can use more filters, have more sale options, and make the best choice among all available goods. Whether you are looking for new jeans or a workout jacket, you will have things to choose from. You can take advantage of online clothing stores as a manager. By selling your goods through fashion markets, you attract more users and increase the number of your regular clients. Moreover, if the promotion of your platform won’t succeed, a marketplace will always be your plan B. It’s much easier to access the online fashion market and get the needed clothes than to search for a specific store. If you struggle with sales, consider cooperating with the local fashion markets. Overview of the Best Online Clothing Stores We will have a look at online clothing stores that dominate the industry today, revealing their biggest advantages for both customers and sellers. We will discover the biggest advantages of marketplaces compared to offline stores. Also, we will compare three types of marketplaces and explain the difference between them. Why are Online Fashion Marketplaces Popular? Online fashion marketplaces are so attractive for several reasons. First, they are simple in use for those who buy and for those who sell. Clients have access to a giant catalog where they select between multiple types of clothes presented in different sizes and colors. Giants like ASOS or Zalando work worldwide while smaller companies are available for users in specific regions. Sellers consider the fashion marketplace as a chance to increase brand awareness and reach a bigger client base. If the marketplace covers several regions, it’s good for you. Moreover, fashion marketplaces don’t require huge investments. You can start your business with a small budget (compared to industry giants) and succeed. Of course, you need funds for promotion and product information management. Services like PIMinto will help you organize information management with zero risks. Your data sharing will be quite simple and effective. Last but not least, online stores grant access to new technologies. AI-powered algorithms help people get personalized recommendations to enhance their shopping experience. Also, it’s an opportunity for sellers to find new connections and cooperate with individuals in the future. Types of Marketplaces There are three main types of marketplaces: B2B, B2C, and C2C. Let’s have a look at all three of them. B2B (Business-to-business) These types of marketplaces are based on selling products on each other on useful terms. For example, eBay is identified as a B2B marketplace. Generally, there are 2 types of B2B marketplaces: vertical and horizontal. Vertical marketplaces give vertical paths to businesses, in every segment of a specific sector. Horizontal marketplaces differ as they offer services in different segments uniting sellers and customers. With this model of the marketplace, people can sell goods across countries and regions. B2C (business-to-customer) In this model of the marketplace, consumers are connected with vendors directly. It’s like a retail store where dozens of providers offer different products, so clients can find everything they need. The main difference between B2B and B2C marketplaces is that B2C aims to attract as many customers as possible. To better understand this difference, it will be better to look at real examples of marketplaces. C2C (Consumer-to-consumer) We can say that C2C marketplaces are like huge online garage sales. People who offer products and services meet other people who offer products and services. They can make a profitable exchange or just sell the needed product and get the money. Such practice is quite popular among users. Services like Carsales.au or Poshmark are great examples of C2C websites. Advantages of Online Fashion Marketplaces Online fashion marketplaces like Amazon and eBay are some of the most common websites where you can buy almost everything. They are not only about fashion, they are also about gadgets, books, accessories, etc. Now, when we talk about fashion stores, we define the most important advantages of online fashion marketplaces for users. Convenient services You are not attached to location or time zone when shopping in online fashion marketplaces. You don’t wait in the queue or skip the day because the store is closed. Variety of products No limits for you! Select from thousands or even millions of products. You can not just scroll down page after page but compare the preferred goods and select the best one. The interface allows you to see the difference in price range, available sizes, materials, and other parameters. Worldwide reach Marketplaces are advantageous not only for clients but for sellers as well. As a seller, you can expand your reach and go far beyond the global audience. Marketplaces like eBay allow you to sell products to almost every place on planet Earth. Saving your funds Some people may ignore it, but operating an online store is cheaper than holding an offline store. Moreover, when you enter the online fashion marketplace, you have more chances to compensate for the money you spend on promotion. Top 10 Best Online Fashion Marketplaces Now, let’s overview the 10 best fashion marketplaces in the world right now. Amazon Let’s start with the largest and the most popular online fashion marketplace. From the most expensive jewelry to tiny accessories, Amazon offers users to find everything they need. According to the stats, there are more than 5,6 billion visits on this platform per month. This fashion marketplace operates in 17 countries, including the UK, the US, France, Germany, and others. People can order delivery to their address and get the purchased goods in short. Sellers who want to work with Amazon have access to various features, including Amazon Prime, Amazon Brand Registry, etc. Etsy This website focuses on selling hand-crafted, creative, and vintage goods. It often becomes the #1 choice for freelancers who start selling their hand-crafted products and want to attract more customers. Considered one of the largest marketplaces in the United States, Etsy has grown and now has sellers worldwide. People who decide to sell here can customize their store, make direct checkouts to secure payments, and perform international selling operations. They also can access a tool called Selled Dashboard which allows them to manage inventory and monitor analytics. Etsy has a simple user-friendly interface that allows you to quickly find and use the needed option. The only visible disadvantage of this fashion marketplace is a high level of competition. More and more individuals come to the platform, so you have to impress your clients to make them stay. ASOS A fashion marketplace ASOS was considered the best place to sell clothes online. It has more than 23 million active users worldwide and over 68 million monthly traffic. This fashion marketplace stands out due to the diverse range of products it offers. For example, in ASOS you can find things from labels and independent designers that are not shared in any other stores or marketplaces. Sellers who cooperate with ASOS get access to a huge customer base and multiple marketing tools. It allows them to launch effective promotions and improve their visibility. JOOR A leading B2B fashion marketplace provides comfortable communication between customers and sellers. Everyone who enters this platform can find and purchase what’s needed. Sellers get access to various tools that allow them to manage their inventory, customize profiles, communicate with clients, etc. They can enter new markets, find partners, and build communication with influencers. Farfetch Farfetch gathered together hundreds of fashion designers from medium to high price rates. People can find clothes for men, women, and kids. From T-shirts and jackets to shoes, bags, and accessories, you can find whatever you need to meet your preferences. Right now, there are more than 2 million users who use this fashion marketplace regularly, and everyone will Clients will easily operate the website due to its user-friendly interface. Sellers will have fully customizable profiles where they can add new goods, create informative descriptions, contact buyers, and do everything to make their brand grow. Next Established in 2006, Next is considered one of the most popular platforms to sell clothing. The fashion marketplace has more than 8 million visits per month and gives both clients and sellers dozens of opportunities. Those who want to buy can find everything, and those who want to sell can create fancy pages for their products and attract customers. Moreover, with extensive infrastructure and advanced logistics, retailers have extended capabilities when it comes to selling products. Zalando Originally, this platform started as a local German marketplace and now stands as one of the most popular websites in Europe. Marketplace gives access to 23 different markets and boasts nearly 50 million customers. Nearly 5,800 brands are available on Zalando, which is more than enough to make a choice. Moreover, sellers who enter the platform have full control over assortment and price. They also can change the price the way they want. SilkFred This e-commerce platform is based in London and hosts more than 800 fashion brands. This marketplace is focused on offering affordable clothing in different styles. Moreover, SilkFred has a personalized application with a user-friendly interface. Buyers can easily access any preferred category and select what they need. Depop In 2022, Depop has 1,8 million active sellers and over 30 million registered users. It offers a unique experience for both sellers and customers, allowing them to perform operations quick and simple. For example, if you are selling goods, you go through the straightforward setup process, quickly uploading products and creating pages for them. The interface is pretty simple as you don’t need to spend time searching for the needed option. Moreover, you can communicate with clients via DMs. Depop is not perfect as some issues happen occasionally due to high traffic, but this is rather a minor problem. Vinted Who said that second-hand stores couldn’t belong to fashion marketplaces? You can call Vinted a “luxury” second-hand. Over 75 million individuals visit this place to find used clothes, and over 6,5 million users do it monthly. A huge advantage of the platform is a hassle-free experience. You have access to various features that allow you to control listings, add new products, chat with clients, and manage your page the way you want. Another plus for users is the availability of applications for both iOS and Android. You have easy access to all options, being able to communicate with your clients and make changes in your profile. Which of These Operates in Truly Global Fashion, and the Entire World Is Their Marketplace? It’s hard to decide which of these marketplaces is an absolute #1. Each company presents its unique features for both clients and sellers. Moreover, the number of capabilities differs, allowing users to have better customization, promotion, and presentation. Depending on your capabilities, decide how much you can invest and what reach you will have.
Top 8 Best Practices Product Information Management
The effectiveness of product information management significantly affects the company’s work capacity. The more effectively the company manages information between the teams, the more effectively these teams work. Such practice becomes necessary due to a demand for high-quality and personalized experiences. Once you implement PIM practices into your company’s working principles, you will see how your capabilities grow and understand why these practices are so effective. Keep reading to discover 8 best practices and examine PIM use cases. How Do You Define Product Information Management? Product information management is a data-handling method brands, businesses, manufacturers, and wholesalers use to sell products. PIM becomes effective when collecting, optimizing, and distributing the information among the platforms. Such an approach is used to improve product data quality and speed up time-to-market. Advantages of Using PIM in Business Product information management was designed for effective data storage and usage. By using this practice, you can effectively work with the following types of data: Specs and technical data of the product. Product usage data. Description, a detailed explanation of how and where to use it, and the samples. Product-related digital assets (videos, images, catalogs, files, etc.). An essential part of PIM for distributors. Languages. Multi-country and multi-region companies need to create effective marketing strategies and expand their reach. You can also unlock the automotive translation so the clients will always see the information in their preferred language. Value-added asset. Presenting all the product details to customers is crucial to helping them visualize what they are buying. Point of sale. Storing information about store points is essential for businesses with such points, so it gets much more accessible to centralize the data and evaluate the performance of the products in specific places. The number of cases where you can use product information management is enormous. Below, we reveal the most essential arguments for using PIM for your business. Quick launch. Every business that pretends to be effective should be launched soon. Using PIM is the best method to shorten the time to market. As soon as you prepare all the information, you can start selling. Strong brand presence. The fact that clients can quickly identify the needed items and buy them by using different channels increases brand awareness so that more people will recognize them. Fast catalog preparation. Product information management allows you to minimize time searching for needed data and focus on improving product descriptions. You will provide more valuable information about the product, so the clients will be more confident when choosing. Another advantage of implementing PIM is optimizing your product data management. The more your business grows, the better product range you have. Overall, there are 15 reasons why implementing product information management is advantageous. Product information management helps to control the data inside your company effectively Disadvantages of PIM Implementation First, product information management may look perfect because it boosts the company and increases efficiency. You launch the campaign quickly, give your brand a significant presence on the market, represent your products better than your competitors, and increase your sales. Still, the PIM method could be better, but it has several drawbacks. Whether you want to implement PIM and effectively control your business, you should know these drawbacks well. Let's take a look at them below. You will work with enormous amounts of data after implementing product information management into your business model. It's a common problem for large corporations because they need to collect, evaluate, and classify all the information. You have to deal with massive product selection, service choice, and other data. Moreover, if you have to deal with ever-changing product information, you have to put more effort into that, and that's where the first disadvantage of PIM shows up. You can't quickly adapt to new rules. A concept of data processing you use with product information management won't be effective because of its strict limitations. If it's your case, using product experience management will be better. Another disadvantage of PIM is its inability to work with media files and digital assets. When you need to consistently drive products on e-commerce sites, having high-quality media is the most important thing. Since the primary purpose of product information management is to collect and store information, it won't be practical for high-resolution images, videos, and other similar content. To manage rich media effectively, you need a digital asset management (DAM) tool, and PIM does not belong to this category. Last but not least is the lack of e-commerce insights. This method will require more tools to gather analytics, monitor changes, and offer suggestions for better performance. You need three major components to increase sales and achieve better efficiency: insights, content, and an ecosystem. You won't achieve it with PIM, so you better look for PXM instead. How to Implement Product Information Management? The way you implement product information management differs, as several factors may change the approach and strategy. Business vertical, the company’s background, history, and other factors matter. Still, there is a general implementation plan. It includes the most critical steps and explains how to work with data during the implementation. Let’s review the product information management requirements and see how they’ll help you increase efficiency. Design and discovery. During the initial stage, you will have several workshops and meetings with stakeholders to understand how data flows through the system. System orientation and data modeling. A general overview of PIM’s features and functionality. You must also define the product data and understand its structure and format. This information is essential when building the PIM architecture. Configuration and migration. You import data on the platform once you create the structure and set up the database. This process could be manual or automated. Product information management integration. Information synchronizes between different systems when integrating other business systems and tools. To ensure the integration goes well, you can test it with a small group of people. Ask your co-workers to use PIM. This will be good training for admins and a data workflow test opportunity. Product Information Management Best Practices When we know about the pros and cons and how to implement it, it's time to talk about PIM's best practices. These practices will significantly boost your workflow and eliminate common issues that slow down the process. With the described practices, you can collect and store data, directly impacting your efficiency. Select Roles and Define Responsibilities The business works as a mechanism to strive for set goals and achieve better results. You may need several roles, depending on the model of your business. It could be a marketing department, specialists responsible for brand collaboration, or e-commerce managers. Create a multi-role system where everyone has a needed access level so people will know the processes and tasks they are responsible for. To make it work, consider implementing Bluestone product information management when specialists only access areas they need to complete their assignments. Also, you can keep a history of all pim use cases in your team so you can analyze it and increase efficiency. Choose the most effective PIM Software It may sound scary, primarily if you work with product information management for the first time, but there’s nothing to worry about. When choosing, ensure the selected product has all the points from the checklist below. High productivity and the ability to process vast amounts of data. Cloud-based with high security and simple access. Ability to coordinate with other data-management software. An option to manage digital assets. Get Rid of Unnecessary Product Information Cleaning the database, eliminating unnecessary information, and updating it are essential if you want to succeed with your product. How does it work? For example, you have images that don’t match or represent your products correctly. In this case, you remove old photos and find new ones to replace them. Another example of this practice is when you need to refresh information. Suppose the product is replaced with a similar one that has different requirements. In that case, you need to create a new description to give customers a detailed description of the product, its composition, its characteristics, etc. The purpose of removing unnecessary information from the product description is to ensure you run your business using only reliable data. Moreover, constantly refreshing the database ensures your customers receive only verified data about goods and services. It’s not a one-time task. It should be done regularly, and that’s where product information management helps you keep the database updated. Store Data in a Single System It’s not a secret that most companies use several systems to store data. Someone may think it’s a good signal, but it’s not. When people use too many incompatible systems, they don’t have the desired effect. Transporting the data between the systems gets complicated, creating delays and preventing teams from accomplishing their tasks. With a single system, your data will be centralized and easily accessible, so you won’t have trouble finding something. When we look at PIM examples like Plytrix or Sales Layer, we understand they are easy to use, effective, and reliable. They include a single data processing system, making them so effective. Set Product Information Enrichment as One of the Main Goals You must surpass your competitors in order to have more sales, increase your income, and stay on top of your niche. To achieve this, you need to boost your product information. How to achieve that? Update and optimize your product descriptions, find better images, and add videos to the product cards. When people have more information about something they want to buy, making the right choice is much easier. Moreover, you can specify your descriptions to reach a broader market and increase your income. Invest in Creating Engaging Catalog The catalog is a core component of effective information management. When it’s completed and organized, clients see the detailed description of each product, so the selection process becomes much more manageable. To ensure you create an informative catalog, ensure it has the following: Alternative products suggestions. Product attributes and product categories. Solid product descriptions with images and videos. Specific attributes related to different channels. Clarify your Requirements and Plans for Implementation Whether you will change how you perform your product management, ensure you build a strong business case and know where to find resources for it. Consider calculating a budget to switch between the methods and create a plan to understand how your funds will be spent. To ensure you didn’t miss anything, follow these requirements: Offer bulk editing. Enable true collaboration. Launch powerful Digital Asset Management. Launch everything in the cloud. Use machine learning and artificial intelligence. Enhance the Product Performance Having clients occasionally is OK, but what about regular customers? These people repeatedly come to you to purchase your products and enjoy high-quality products. To make it happen, you should have proper product information management as it will bring you more traffic and increase sales. To ensure it will happen, do the following: Focus on improving search engine optimization (SEO). Monitor product performance on multiple platforms to know when to implement changes. Analyze the market before planning the information about the product. Customize the product information depending on the target sales channel. How To Choose The Best PIM Software for Business Selecting the Product Information Management that will fit your needs and requirements may be challenging. The main issue is that you have to consider multiple factors when making a choice. First, it’s about people who will work with this system. You should know their skills, knowledge, and understanding of the basic requirements. Second, your data management needs. Factors like flexibility and reconfigurability are essential if you decide to use data from different sources. The next factor is your challenges identification. For example, some systems are equipped with a multi-language support system, which is extremely important when customers come from different cultures and nationalities. Last but not least - maintenance. You should get a scalable product information management system. This decision may seem questionable because of the cost, but if you launch a long-term project, it will be advantageous. You won’t need to pay extra to add new users. Consider your integration capabilities when choosing PIM software. It should easily integrate into your e-commerce platform or EPR system (depending on what you use). The better integration capabilities you’ll have, the fewer disruptions you’ll have during work time. Also, pay attention to data security. Choose a trustworthy company that’ll help you integrate product information management. Since you’ll work with sensitive product data it’s up to you to select the system with multi-level security protocols to avoid data leakage. With such approach, you will effectively organize all the processes and keep your product data protected.