At the end of 2022, the global apparel market was worth around 1.53* trillion US dollars. Experts predict this figure will be around 1.7* trillion US dollars by the end of 2023, despite the economic slowdown. That’s the equivalent of every human on the planet spending around $200 on clothes this year. But digital complexity and increased competition has made it harder and harder for brands and retailers to maintain their market share.
6 opportunities to unlock the value hidden in your product catalogs
Managing product catalogs and product data has become a very difficult and time-consuming task. Yet, it has never been more important to market products on as many channels as possible. And we can’t forget that your product data needs to be perfectly tailored for each channel and each audience on that channel.
Read our list of the top 6 opportunities to maximize the value in your product data, and resources for your team to focus on expanding your sales channel portfolio and grow your marketing reach.
1. Tighten your belt and grow at the same time
AI and machine learning systems can aggregate, merge, and organize hundreds of thousands of SKUs into complete and channel-ready files within minutes. Feed processing automation saves you time and precious resources by eliminating labor-intensive manual tasks.
2. Burning resources? Centralize your product marketing
Centralize all of your product data feeds in one dashboard and ensure brand messaging consistency and tone across all touchpoints, channels, and markets. Managing your product data from one platform gives you total control over your product catalogs and makes it easy to create sales events and seasonal campaigns in a matter of minutes.
3. Build your brand, save on advertising
Export perfect product descriptions, images, videos, and information that match each channel’s requirements and recommendations every time. A comprehensive Product-to-Consumer (P2C) platform will automatically check all feeds for accuracy and consistency before exporting or updating data onto a channel.
4. Make stockouts history
Never sell ‘out of stock’ items and have to pay the penalties or risk bad consumer ratings again. Schedule multiple file updates to each channel daily and ensure your stock levels are always up-to-date. Avoid the situation where you risk penalties, bad reviews, and waste ad spend on out-of-stock products. Order synchronization is your key to delivering an excellent shopping experience on all marketplaces and channels where you sell.
5. Better product information means fewer returns
A high percentage of returns are triggered by inaccurate or incomplete product data, including missing images, sizes, or simply the wrong data for that product being displayed due to commerce anarchy. By ensuring your product data is always accurate and complete – according to each channel’s requirements.
6.Consumers want transparency. Sustainable fashion is booming
Genuine aspirations for more sustainability in fashion are among the most important considerations for many Millennials and Gen Z when choosing a brand to buy from. P2C platforms can be used to give fashion retailers a high level of transparency into their products’ ecosystems, from manufacturers to designers and all the way to the end consumers – be it on updated product origin and traceability information or badges on product images for quicker consumer perception.
Advertising PX: The new name in product-to-consumer product data solutions
The Productsup P2C platform can implement all of the above recommendations and much more. P2C platforms can be easily integrated into any ecommerce ecosystem and will revolutionize how you aggregate, merge and enrich your product data, creative assets and marketing campaigns.
Productsup P2C Fashion feed management already works for over 900 global brands, including Thule, Eileen Fisher, Puma, NHS Inc., Vestiaire, and many more. You can read how our platform is working for our customers on our success pages or click on one of our cusomter case studies below:
*All figures can be found on Statista