Product information serves as the cornerstone of e-commerce and digital customer experiences, providing potential buyers with knowledge, information, and the confidence they seek in their online purchases. Ranging from detailed product descriptions and technical specifications to immersive product videos and 360-degree photography, product information can often make the difference between someone making a purchase or going elsewhere.
Ensuring your product information is easily accessible, accurate, and supports the myriad of platforms where your products are showcased is no small feat, especially for global organisations.
This challenge is precisely why Product Information Management (PIM) has emerged as a critical concern for organisations across all industries, not just retail. Indeed, the PIM solution market is projected to reach a staggering US$16 billion by 2025.
Product Information Management (PIM) is the systematic process of gathering, managing, and disseminating comprehensive product information from a centralised repository.
PIM software is designed to safeguard and enhance the quality of product information accessible to both internal and external stakeholders, systems, and collaborators.
In the era before digital commerce, product information was limited to catalogues, magazines, and in-store experiences. As time moved on, many brands took to managing product information using spreadsheets or platforms geared towards engineers and product managers. However, these tools often clashed with marketing systems, leading to time-consuming and error-prone data entry.
Today, consumers form judgments based on a number of elements, all found online, from specifications and product descriptions to images, videos, and social media ads. It’s why having a robust, easy-to-use PIM is vital.