Fight Holiday Returns with PIM
By Kerry Young on Jan 11, 2021
$70.5 billion in holiday returns? PIM may be your best defense.
Holiday eCommerce sales exploded this year, with a 35% predicted boost year over year. The surge in online shopping presents new challenges for retailers—the biggest of which may be retail returns.
New data from CBRE shows consumers will return as much as $70.5 billion in holiday purchases—a jump of 73%. Interestingly, 90% of consumers also say they’ll shop post-holiday sales this year. For retailers, challenge meets opportunity. They must address and prevent retail returns while capitalizing on the momentum of eCommerce sales.
Fight Returns with Product Information Management (PIM)
Incorrect or incomplete product details are the root cause for many returns—whether on your website, search engine results, a marketplace, or other retailer sites. So, one of the best ways to fight returns is to ensure you deliver accurate, consistent, and complete product data across all channels.
A PIM platform helps merchants compile, cleanse, and govern product data through a single, centralized hub. With PIM, merchants can give online customers the in-depth product information they need to make buying decisions, plus ensure the information is accurate and consistent, even across multiple channels.
Give Buyers the Full Product Experience
In addition to accurate and complete information on the product page, online merchants have another weapon in their arsenal – digital assets. High-quality images, 360-degree views, product videos, demonstrations, and user manuals can provide the consumer with an extra layer of clarity about the product, especially when buying online.
A PIM platform with Digital Asset Management (DAM) combines precise product data with compelling digital assets to paint a crystal-clear picture of a product’s look and feel. When a customer fully understands what they are buying (or requesting as a gift), they are less likely to return the purchase.
Automate and Audit
Getting new products and content to market fast is crucial during holiday sales. Unfortunately, errors often accompany speed, as teams rush to beat the competition and make quick online updates.
PIM helps combat this issue by enabling business users to automate and accelerate key processes—like product launches, content and asset updates, translations, etc.—by building powerful collaborative workflows.
Another issue is that, even with PIM, product data issues can pop up. Human error can erode accuracy, retailer templates can misinterpret your data, or third-party sites can override your content. That’s why content auditing is a smart move. It can help you keep track of your product content across SKUs and pages to ensure it’s error-free and precisely as you intended.
Winshuttle recently partnered with Content Status to offer content auditing to our PIM and Multi-Domain MDM clients. Stay tuned in the coming weeks as we release exciting information about this partnership!
Ready to Fight Returns with PIM?
High return rates in ecommerce aren’t a foregone conclusion. By leveraging the power of managed product data, merchants can strip away many of the reasons customers return their purchases.
To learn more about fighting returns with PIM, download our eBook How to Bust Your Return Queue with a PIM Centered Approach.
About the author
Kerry Young joined EnterWorks in 2006 when Ennovative, Inc., the multi-channel publishing software company he co-founded, was acquired by EnterWorks. He directs EnterWorks’ operations and leads EnterWorks’ professional services and consulting organization, ensuring effective customer implementations and ongoing success. Mr. Young brings more than 25 years of technology and business management experience to EnterWorks, having served as CTO for a subsidiary of the Dow Chemical Company, and earlier as VP, Information Technology for Marshall Industries, a $1.7 billion industrial electronics distributor. He previously managed information systems for a subsidiary of McDonnell Douglas Corporation. Mr. Young holds a B.S. degree in Computer Science from Cal Poly, San Luis Obispo and an M.B.A. from California State University Fullerton.
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