Mens Et Opera - Reloaded

The PIM market stands on the cusp of a turning point, almost a transition to a ‘phase 2’ (very tempted to call it “PIM 2.0”…) While most still can’t see how the investment in a proper PIM solution will pay a lot of dividends, there is also every sign that the market is on the verge of a significant turn. The signs come from two directions, namely, retailers and (PIM) vendors. The former beams bright signs; from the latter the signs are dim but encouraging.  Let me explain.  Fast-faced economy and game-changing technologies such as mobile’s have shifted the balance of power, now tilting away from retailers and toward consumers. Invariably, while the core functions of retail are – and will always be – unchanged, business models are being redefined by experimenting new ways of delivering value. Nordstrom offers a mobile app that enables the user not only to browse, read customer reviews, etc. but to check product availability at nearby stores. Macy's, Levis, Targe...

For readers who might be interested, I thought it would be useful to gather together in one place links to various posts on Omnichannel and customer-centricity. On to the posts. It's the customer, stupid! The "relational gap" in the Australian Retail sector  The misleading Omnichannel...thing Business as a Calling: How Catchoftheday and Tinyme fulfill their call Omnichannel doesn't necessarily mean customer happiness Does Product-Centricity conflic with Customer-Centricity? Drop Shipping: the competitive advantage of pure players over bricks and mortar What's customer experience, anyway? "The Company is like a verb whose subject is the customer" Enjoy!

The cost of waiting to invest in PIM is too great. Please pause and repeat it to yourself. This is not a joke. Let's face it. If you are a retailer (small or big makes little difference), what are your most painful challenges? Chances are that your answer will include a variation of the following: lost sales from out-of-stocks,  lost time haggling over return disputes,  squandering hours reconciling product promotion discrepancies across all channels. Feel free to continue to experience wasted dollars from slowed time to market for new product introductions, time spent relaying basic product information to customers and partners, and brand erosion. However, if you have embarked on the journey for redemption :-), I suggest to keep on reading. But let me firstly demystify what PIM is...just to lay good foundations (also check here , here , and here for further qualification of what PIM really  is). Now, my top reasons why you ought to consider transforming...