{"id":5095,"date":"2020-08-06T07:46:00","date_gmt":"2020-08-06T07:46:00","guid":{"rendered":"https:\/\/www.mindstask.com\/en\/?p=5095"},"modified":"2023-10-27T10:10:44","modified_gmt":"2023-10-27T10:10:44","slug":"the-time-for-the-retailer-to-adopt-a-rich-pim-strategy-is-now","status":"publish","type":"post","link":"https:\/\/www.mindstask.com\/en\/the-time-for-the-retailer-to-adopt-a-rich-pim-strategy-is-now\/","title":{"rendered":"The Time For The Retailer To Adopt A Rich PIM Strategy Is Now"},"content":{"rendered":"
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The role of retailers in bridging the gap between a \u201cmarket need\u201d and a \u201csolution to it,\u201d is one that has picked up a lot of interest in the recent time.<\/span><\/p>\r\n

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The role of retailers in bridging the gap between a \u201cmarket need\u201d and a \u201csolution to it,\u201d is one that has picked up a lot of interest in the recent time. And situation like Covid-19, retail industry at the crossroad of unprecedented time to innovate fast and present their customers a safer and secure buying experience. For tangible office goods or sometimes even technology solutions, many manufacturers tend to lean toward retailers who can take care of all their procurement needs. In most cases, retailers and wholesalers have captive audiences or exclusive selling relationships where their buyers will work directly with them, either through a digital commerce site, in-store, or other channels. Nevertheless, this doesn\u2019t stop them from worrying about marketplace competition.<\/p>\r\n

Despite exclusivity, there exists the likes of Amazon Business and the AWS Marketplace, that in a way, loom as constant reminders to retailers that they need to up their ante. With the preferences and needs of business buyers evolving into what is more like that of a B2C buyer, retailers being at the head of this consumption chain need to be on deck and point at all times, concerning all brands under their belt.<\/p>\r\n

[Also Read:<\/strong> Best Way To Increase ROI With Product Information Management (PIM)<\/span><\/a> ]<\/p>\r\n

It all boils down to this. Can retailers ideally position their unique value proposition, and how do they convince a prospect to ink the deal with their company amid other suitors or even operating models? Rendering their all-encompassing product information database in an informative yet illustrative way is what can win them back their fair share in the marketplace. The answer lies in investing in a robust\u00a0product information management (PIM) solution<\/a><\/span>\u00a0that enables you to streamline exploding product data and all digital assets.<\/p>\r\n

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What does a PIM mean for you as a retailer?<\/strong><\/h3>\r\n

In addition to helping you create a robust online presence, where all business happens today, a PIM platform empowers business operations efficiently. Given that you are linking the various stakeholders in the supply chain\u2014including the manufacturer, suppliers, distributors, plus the end customer\u2014there is extensive product information that needs to be integrated. A PIM platform helps manage a variety of SKUs and related digital assets across different channels and platforms. It also enables you to deliver exceptional customer-centric experiences.<\/p>\r\n

With a PIM platform in place, it becomes easy for the retailer to search through the inventory and look for the products that correspond to the customer’s specific interest. It also reduces the time to revert to the customer and ultimately enhances the relationship with the retailer.<\/p>\r\n