E-Commerce product catalogue management is not a singular process; it has two dimensions to it. The first being centered on data management. The second point of interest is in maintaining the quality of the data that is being fed into the database. The process unifies product data across various sales channels. The idea is vital to any online business that is seeking to expand its horizon across varied eCommerce platforms.
Understanding the Importance of Product Catalogues
Product catalogues are the catalysts that boost sales on an eCommerce platform as they attract traffic to the items that have been listed. Making Catalogue management essential. An effective catalogue management system assists firms in maintaining a detailed product database. This accelerates the Return on Investment, quick product categorization and improving the experience for customers. An efficient catalogue management system allows firms to easily sell the items on the database across varied eCommerce platforms.
Listed below are the challenges faced by Product Catalogue Management:
- Constant Product upgradation
- Sales on Different Channels
- Data Quality Management
- Computer Pricing Analysis
- Improving Product Discovery
Constant Product Upgradation
Every Product catalogue management system has a few factors that contribute to the success of its functioning and that includes marketing, branding, operations, and customer support. eCommerce platforms have to constantly update the information about their products on their database. The update of information such as the change in prices of products, product citations, introducing a new variety of products, and their availability etc. This work takes a lot of time, which can be spent on revenue generating duties for the platform. Additionally, the work needs to be done on a real-time basis.
Sales on Different Channels
eCommerce platforms that brand their items across several channels encounter the issue of listing their products on multiple platforms at the same time. Several platforms have different guidelines. A lack of standardization in product listing confuses the customer. Product listings must be customized to the guidelines of the particular channel in order to give customers more trust. Shopping comparison of the same merchandise across other platforms is undertaken, making a thorough product listing on all channels essential. Large channels, such as Amazon or eBay, have a time-consuming process of listing products and use several criteria to update product information. Value-added resellers are in high demand in the industry.
Data Quality Management
Data quality maintenance on a platform on which data has been added is definitely difficult to handle when several channels are involved. Due to the manual involvement required in the catalogue management process, product information may be inadequate or erroneous, data discrepancy, spelling mistakes, missing information or characteristics, and so on. The product listing should be substantial and comprehensive in order to provide consumers with a good shopping experience. The dearth of standards in the product listing makes managing supplier data files difficult. For example, one vendor may offer the option of choosing the size for certain apparel, while other channels may not. Furthermore, separate channels provide distinct information on discounts, payment choices, and shipping specifics. As a result, data uniformity and quality remain critical for catalogue management.
Computer Pricing Analysis
Product prices that are being fed into the online database must be double-checked since incorrect pricing might have major consequences for business growth. Exploring the several marketplace platforms to channel the sales of the company entails more than just following the listing criteria. However, it is essential to investigate and analyse the cost structures that are used by rivals. This process becomes challenging as the number of products available for sale on eCommerce platforms increases.
Improving Product Discovery
An important statistic has highlighted the fact that close to 80% of the products that have been catalogued remain undiscovered due to inaccurate tags. The process of onboarding the product onto the online catalogue is incomplete unless they are properly tagged. When customers search for products, they should be directed to the products that are exactly or closest to the products they are searching for. Incorrect tagging has a huge drawback, can drive visitors away from the right product on the eCommerce platform.
If it is not possible to handle the eCommerce product catalogue internally, the work should be outsourced to an expert. Internally, there are numerous ways and means to deal with the challenges; many firms, for example, have designed tools and macros for each desk/team to efficiently manage a specific set of catalogue management duties. Hiring the appropriate individuals with the correct skill sets and selecting the proper channels with the newest technology can provide firms with steady growth.