In today's omnichannel landscape, crafting great product experiences is vital yet increasingly difficult. With more (and ever-changing) requirements and higher data volumes, retailers and brands are being challenged to keep up with shoppers’ increasing demands.
According to key highlights from Salsify’s 2024 Consumer Research Report:
- 76% of shoppers claim to click on a product from search as a result of high-quality images
- 54% of shoppers have used their phone to find more information in store
- 23% of shoppers buy a product online while still in the store
These insights reinforce the formidable challenge that retailers and brands face in meeting consumer needs across diverse channels.
What retailers are telling us
With retailers adjusting to an omnichannel approach, the demands on their teams and suppliers are increasing. At a recent Drinks Association Network Breakfast, keynote speaker, Michael Courtney, CEO Coles Liquor, said: “To provide and optimise omnichannel experience for customers over the coming years, retailers can’t do that alone… It requires collaboration between retailers and suppliers.”
Challenge: Strong focus on improved customer experience to drive loyalty, reduce returns and improve personalisation.
Goal: A centralised platform unifying the experience between suppliers and retailers, and fostering collaboration to deliver great product experiences.
Challenge: Working in a siloed environment internally across different tools and platforms.
Goal: Support the collection of all types of data, from all suppliers, within a seamless tech stack that works together.
Challenge: The quality of supplier data varies and is often missing critical requirements to meet downstream systems and customer demands.
Goal: Source high quality data from suppliers to deliver seamless omnichannel experiences and excellence in digital execution.
What suppliers are telling us
- 50% of executives say profitability with retailers is their #1 concern - Allume Group Executive Research, Q1 2023
- 75% of leaders say they feel pressure to incorporate [generative] AI into their business strategy - Qualtrics, July 2023
- 83% of leaders report high “collaboration drag” across omnichannel orchestration programs - Gartner CMO Leadership Vision for 2024
Challenge: Teams are siloed and the volume of product information required results in slow time to market.
Goal: Work in a centralised environment with powerful workflow collaboration to speed time to market.
Challenge: Lack of technical solutions that help optimise content quickly, solve data governance and channel mapping issues.
Goal: Improve efficiency, validation and reduce cost in the creation, management and distribution of high quality product content through technology and AI.
Challenge: Working with retailers to improve customer experience with enhanced content on the PDP.
Goal: Set up a centre of excellence around improved product content with the aim to deliver a more personalised experience to customers.
Constellation Brands Meets Surging Demand With Salsify PIM | Salsify: Case Study
“Whether you're an alcohol brand or a grocer, if you're not meeting the needs of the consumer — and you're kind of avoiding it, skipping it, or just sitting on your hands — you're going to miss out on this entire shift." Wayne Duan, VP of Ecommerce and Digital Commerce at Constellation Brands
For more information on Salsify's solutions, visit www.salsify.com