ABBA famously sang that the “winner takes it all” and, when it comes to retail success, we’d have to agree. With 1.8 billion people worldwide purchasing goods online and with $3.53 trillion eCommerce sales worldwide in 2019, there’s a lot to be gained from releasing products ahead of your competition. As the saying goes, there’s no prizes for coming second.
How can you improve speed to market?
The success of eCommerce and the speed of it has not only been fuelled by technological advancements but also consumer demand. Consumers have become more curious, impatient and demanding in the last few decades. In the retail world, the ability to get your product out to market first, before your competitors, is paramount; being able to respond to trends, react swiftly to influencer marketing and doubling down quickly on successes are all key benefits that will undoubtedly be mirrored in a rise in revenue.
We joined forces with feed management solution, Channable, to bring you all the top ecommerce knowledge that you need to know. This whitepaper brings you the latest retail industry stats, an eCommerce overview and the results from our retail decision maker survey. No matter the scale of your business, this whitepaper is here to help your retail business improve its speed to market and to increase your chances of success during this incredibly challenging trading period.
What’s in the whitepaper?
- A brief history of eCommerce and the key trends that have sprung from it
- The future is fast: the results of our retail survey
- Google and Amazon: what are their latest developments?
- The importance of speed to market: which retailers are getting it right?
- How to keep on top: our top recommendations with the tips and tools to improve your speed to market
How can OMIO PIM help?
Product information is increasingly becoming more dynamic: any hurdles can have noticeable differences on sales and success. In fact, 84.5% of Gen Z said that they would make a purchase based on a social media recommendation, so it’s imperative that if an influencer has been spotted wearing your products, you’re in a position to quickly amend and update any product content to reflect this. Using OMIO PIM, quickly update your product data through a single port of entry, rather than updating multiple spreadsheets for each product and for each channel. OMIO PIM has been built on our decades of retail experience and has been designed as a true end-to-end solution, seamlessly integrating with your existing operations. There are many factors that can slow down a supply chain, one of them needn’t be your brand’s handling of product information management.