A decade ago, creating an online store and displaying a product catalogue on the website was just enough to attract customers and maintain a digital presence. A few years ago, having a mobile application was a must to stay ahead in the competition. Today’s digital e-commerce demands a lot more.
Year by year there is a significant growth in online shopping and e-commerce industry. This trend is only going to increase, with e-commerce industry estimated to reach over $8 trillion by 2023 as a report published by Statista.
However, as the e-commerce industry continues to grow, the challenges faced by businesses are also increasing. E-commerce business owners have a lot do, from handling customer data to managing multiple channels.
In this post, we will explore some common challenges that e-commerce businesses face and how a product information management system, like Pimcore can help overcome them.
Common Challenges that E-commerce Businesses Face
Challenge #1 Managing a large volume of product information
One of the most challenging things for any e-commerce business is managing product information, especially for a company that sells a huge number of products with a multitude of attributes. Maintaining consistency and accuracy of this information across all sales and marketing channels can be time-consuming and prone to errors.
Pimcore offers one-of-its-kind PIM solution that can easily handle a large volume of product information. It provides a centralized system to store, manage and access product data efficiently as well as ensures the product information remains up-to-date and correct across all channels and platforms.
Challenge #2 Creating personalized shopping experiences
Creating personalized shopping experiences is critical for the success of any e-commerce store in today’s competitive market. However, creating a truly personalized experience for every customer can be challenging as there are many things that prevent you from getting it right. Customer data is a key to understanding customer needs and preferences.
Pimcore offers a robust customer data platform (CDP) that allows you to store and manage master data records of your customers, and utilize them to create personalized customer experiences based on user choices, behaviors, demands and other relevant data. Pimcore helps you enhance customer experience by tailoring the shopping journey to each customer’s interest and preferences.
Challenge #3 Selling on multiple channels
Modern e-commerce retailers don’t just sell through their online store, but they try to sell through multiple channels, such as mobile apps, marketplaces and social media platforms. Managing a vast amount of product information across all these platforms can be challenging and time-consuming.
Pimcore provides a unified digital commerce platform that enables you to sell across multiple platforms with consistent and accurate product information. Pimcore’s powerful data management features solve your multichannel selling challenges and deliver exceptional shopping experiences to your customers.
Challenge #4 Omnichannel marketing
Customers today demand a consistent and seamless brand experience. Whether they choose to shop from the brand website or social media, they wish to have access to the same product information, same pricing and same customer support. However, in a present fast-paced environment when there are so many channels to take care of, things get really complex.
Pimcore offers a comprehensive MDM system, which is a critical asset for any business looking to enhance their omnichannel marketing strategy. It enables e-commerce owners to manage campaigns across multiple channels through a single platform. Pimcore’s omnichannel features automatically publish the right product information to the numerous output channels, keeping users engaged and improving conversion rate.
Challenge #5 Scaling up the business
If you have been running an online store for a while, then you have probably already started thinking about how to scale your business to its full potential. You want to introduce new products quickly in the market, develop and distribute digital content and respond to seasonal offers instantly.
However, e-commerce owners are unable to adapt quickly to changing customer needs because either they don’t have an efficient product data management tool in place or cannot integrate new technologies with their existing systems.
Pimcore is designed to be highly scalable that allows businesses to scale their operations with its digital commerce framework that seamlessly integrates with your existing legacy systems. Furthermore, Pimcore can easily handle millions of SKUs and tens of millions of their internal relationships, while continuing to be efficient and responsive.
Challenge #6 Selling across continents
Any e-commerce owner planning to expand their business knows that selling globally is not without challenges. There are so many things to take care about, such as translating product information into the local language, currency conversion, logistics and so much more.
Pimcore makes easy to sell in the international market and generate more revenue through seamless product data synchronization with a wide range of sales, marketing and business channels. Pimcore offers robust product data integration, standardization, customization, optimization and syndication capabilities, which empower you to leverage more sales opportunities.
Challenge #7 Reducing cost overhead and generating more profit
In the data-driven e-commerce landscape, product information is at the heart of the business. Inconsistency or incompleteness of data can cost a company tremendously. Without a proper product information management system, maintaining the quality and accuracy of data is quite challenging. This can result in increasing operational costs and reducing profits.
With Pimcore, e-commerce owners can improve quality and consistency of data. You don’t have to manually update data across all your sales channels, which is time-consuming and prone to errors. Any corrections or changes made in the Pimcore will automatically reflect at all the platforms. This can help build a consistent brand image and bring more conversions.
In this rapidly changing digital world, customer shopping experience has transformed drastically. Pimcore’s customizable workflows, user-friendly interface and advanced analytic capabilities make it easy for businesses to adapt to ever-evolving market demands and customer needs, along with boosting their performance. It is a smart choice for small and large e-commerce businesses looking for a cost-efficient and scalable PIM solution.
If you are looking to optimize PIM for your e-commerce business or wish to integrate Pimcore with your existing systems, we are here to help. We offer comprehensive Pimcore implementation services, helping businesses grow their market presence and stay competitive.