You can’t single-handedly make the cost-of-living crisis disappear, but you can give shoppers the information they need to make smart buying decisions.
You can’t win over every buyer based on eco-credentials, but you can be clear and transparent about your product’s environmental impact.
You can’t (and shouldn’t) eliminate returns from your buying model, but you can make sure that people are returning for the right reasons.
Here, we look at some of the lessons you can learn from last year’s Golden Quarter to take action with data and maximise your results throughout 2023.
Make it easier to compare items
How often do you make a purchase without comparing it to another similar product? In a cost-of-living crisis, no one wants to pay more than they absolutely have to, but it isn’t just about the price. Shoppers want to make fully informed decisions, based on product features, quality, and sustainability (which we will come to later). This is where having complete, reliable and up to date product information on every single product becomes so important.
Say, for instance, a customer is trying to decide between two products on your site. One is expensive, but has an in-depth product information explaining the materials, the style, the features, it’s eco-credentials etc. Another is cheaper but looks similar – yet it doesn’t have the same in-depth information available. Does the consumer choose the more expensive option as they are more informed about the product? Most of the time, no – they simply look elsewhere and find a match for a better price.
Data Management Fix: Implement a platform like PIM or MDM that makes data accessible wherever and whenever it is needed. Consumers should have access to the same information whatever product they are looking at, and wherever they are viewing it.