Analysts predict that we are staring down the barrel of a recession in 2023. Consumer spending is beginning to slow. Traditional PLM software can’t prevent the overstocks on apparel and seasonal items, and understocks on essentials that have become par for the course. Major department stores are holding inventory until the 2023 holiday season in hopes of selling at full price.
In this environment, a retailer’s time to market can make or break margins. Although the listing process on eCommerce platforms isn’t one we usually think about when talking about unified PLM and PIM software, many platforms now offer features that go beyond simply managing product data.
eCommerce listings bring new challenges
eCommerce marketplaces like Amazon and Alibaba comprised over a third of eCommerce sales last April. Yet an issue is arising as more brands gravitate towards eCommerce marketplaces to sell their wares. Listing on eCommerce platforms is a time consuming process, adding days before each product gets to market. The result? Excess inventory, understocks on essential items, and reduced consumer interest in the products being sold. Every extra day added to the listing process exacerbates these outcomes.
Online product listings shouldn’t take weeks in this day and age. Unified PLM and PIM tools can be used to reduce the time it takes to list each product. Let’s talk about the best unified PIM and PLM solutions to reduce listing time.
The big upside of being first to market
Customer perception is the differentiator between retailers that can charge a premium and those that battle one another in the “race to the bottom.” Being first to market, which is also referred to as the “first mover advantage,” has a few distinct benefits. It can boost market share and revenue, and pique customer interest in a lasting way –– to help retailers become known as the can’t miss destination in their specific niche.
Beyond that, the first mover advantage can help retailers set the market price for that particular product. But, in this day and age, the first mover advantage isn’t easily obtained. Retailers with the right unified product collaboration platform in place are more able to skillfully navigate the supply chain shortage, shipping issues, and lack of raw materials to bring products to market before the competition. But listing products on eCommerce platforms can add days to the listing process for each product. And each day added is a day that a retailer’s competitors can use to beat them to market. Legacy product lifecycle management solutions don’t help retailers carve time out of their listing process. But Surefront’s unified PLM, CRM, and PIM platform does.
What PLM software is used for retail?
Surefront contains the best PLM solution for the retail industry. Our unified PLM and PIM tool’s new product syndication feature helps teams save 60-90 minutes per product for each eCommerce platform they list on. We make it happen by automating the client's product syndication process. Product listings automatically customize themselves to each online marketplace’s unique specifications.
So retail teams can instantly customize product listings for hundreds of different retail websites, in minutes.
For the first time ever, retail teams can use Surefront to conduct their entire product development process within a single platform. No more migrating data between systems at each stage of the game. With Surefront, everything is centralized, from ideation to development, sourcing to production, eCommerce listings to sales.
We’re the best unified PLM & PIM for product syndication
Surefront’s new product syndication feature helps retail teams remove days from their listing process to get on-trend products to market faster. It connects retailers’ product data to any and all eCommerce platforms they need to list on. Retailers just have to set up a product in Surefront once to publish it to all of the eCommerce platforms where they have a presence, all at once. With Surefront, your product lifecycle management solution and product information management solution work together and all sales channels are on one streamlined platform. Achieving the “first mover advantage” has never been easier.
You don’t want your data to be siloed. Your company’s CRM, PIM and PLM solutions shouldn’t operate in a vacuum, either. Surefront is a Unified Product Collaboration Platform to power growth and ROI. Our patented PIM, CRM, and PLM solutions streamline the omni channel sales, merchandising and product development processes. By combining these essential functionalities, Surefront creates a single source of truth throughout your product lifecycle, sales and listing processes.
The results? Up to 150% more revenue per employee and a 40% shorter product development cycle is just the beginning. Try our 10x ROI calculator to see your company’s potential profits. Or, skip the noise and book a custom demo with one of our unified product collaboration management experts today. The retail industry evolves quickly and has a lot of moving parts. We do all of the research, so you don’t have to. Stay ahead of market fluctuations, trends and new features by subscribing to our Unified Product Collaboration Management Blog.