Capgemini’s point-of-view paper “The Devil is in the (Product Data) Details, underlines the strategic importance of accurate product information management for successful omnichannel retail. It highlights the results of product data benchmarking survey of 30 global retailers. The POV also dwells upon the 10 step approach that can help retailers and CPG companies get access to clean product data in order to:
- Reduce time and cost associated with the product-to-publication process, leading to an improvement in KPI such as cost-per-product setup, SKU setup cycle times, etc.
- Boost sales due to efficiency in managing product information for large assortments/ long tail strategy
- Improve margins by reducing the cost of returns