What is Product Data Syndication?
In today’s market, consumers expect flexibility and consistency in the way they shop across multiple channels and touchpoints including website, store, mobile and social. With these expectations, brands must deliver accurate and consistent product information across different sales channels. Gartner’s research shows that poor data quality costs organizations $12.9 million per year. This is because consumer’s decisions are largely impacted by rich product content coupled with a successful multichannel strategy and accurate, timely product data syndication.
Product data syndication is the distribution of product data feeds across multiple eCommerce sales channels, platforms, and marketplaces while complying with each of their different requirements. Essentially, it’s the process of sharing product data across sales channels in a usable way for the specific platform. Utilizing a product information management (PIM) system with product data syndication capabilities is crucial to meeting the ever growing merchandising needs to meet consumer expectations.
Manual Processes Limit Multichannel Strategy
Traditional eCommerce strategies rely on managing complex spreadsheets and codings to distribute product information across multiple channels. While this process could be effective for smaller brands with limited product data, for larger brands with complexity, you don’t have to remain in the status quo. There are more efficient ways of handling product information. Manual processes also leave room for a high chance of error, which can cost brands money down the road.
Product Data Syndication Simplifies Product Information Management
At Elastic Path, we continuously strive to simplify the workflow of merchandising teams in every way possible. Our Commerce PIM streamlines product information management by providing one centralized location to import, enrich, and organize product data to meet specific product experiences requirements across routes-to-market. Merchandisers are empowered to launch products to market with speed with our de-coupled architecture where products, hierarchies, and price-books are separate services, allowing for ultimate flexibility to create 10,000+ variations and build dynamic bundles and configurators. Unlike other Commerce PIMs in the market, Elastic Path Product Experience Manager (PXM) goes beyond product data syndication to centralize Commerce PIM, product merchandising and Catalog Composer capabilities to empower merchandisers to deliver dynamic, differentiated product experiences with one centralized solution.
Ultimately, utilizing a PIM solution with product data syndication capabilities ensures accurate product data, brand consistency, faster time-to-market, minimal mistakes from manual errors, and gives merchandising teams the time to focus on delivering unique product experiences instead of filling in spreadsheets. We understand how challenging it can be to make a simple merchandising update if you are using a monolith platform and/or a third-party PIM. EP PXM is a solution that streamlines PIM so you don’t have to juggle multiple systems to deliver unified merchandising updates.