A Digital Shelf Guide
Retailers dream of collecting error-free product data from suppliers and publishing it efficiently across channels.
They put so much time, effort, and money into collecting the proper data from suppliers. But, more often than not, there are data inaccuracies that translate into poor online shopping experiences for customers.
Data collection — especially at scale — can be a nightmare for retailers.
There are very few solutions on the market that can comprehensively manage all the relevant types of product data collected from suppliers at scale. Existing solutions often value walled gardens rather than collaboration.
Retailers are faced with a difficult trade-off, having to choose between solutions that lack responsiveness, accuracy, scalability, or all three. Updating product data with speed and accuracy is critical to providing winning omnichannel shopper experiences.
That’s where supplier experience management (SXM), also called SupplierXM, provides value.
A SupplierXM platform is software that supports retailers in the collection, centralization, listing, enrichment, and publication of product data from suppliers. It serves as a product data management solution.
SupplierXM enables retailers to win the omnichannel shopper through deep collaboration with their suppliers at every stage, from item setup and product discovery to enrichment.
SupplierXM can replace existing processes, such as the Global Data Synchronization Network (GDSN), managed service providers (MSPs), and vendor portals, by allowing for real-time feedback and collaboration with suppliers.
It can also serve as the source of truth for all the data — including listing data, metadata, and enhanced content — needed to deliver enriched consumer experiences.
An effective SupplierXM platform supports retailers by empowering them to take the five critical actions necessary to build winning omnichannel shopping experiences:
Retailers need to deliver differentiated consumer experiences in an increasingly competitive retail environment. Staying competitive means you need more product options, more content, and more product details — all available within a few clicks.
Retailers should consider these modern commerce requirements that make implementing a comprehensive SupplierXM platform essential.
Consumers shop using attribute-based searches, meaning retailers must collect more content from suppliers than ever before to support these digital shelf experiences.
Product data volumes have reached a tipping point due to increased online consumer shopping and consumer and regulatory pressure. There are an unprecedented amount of consumer touch points — and they all need to have up-to-date product data.
Consumer touch point examples include:
To keep customers satisfied, retailers must publish enriched, shoppable experiences in an omnichannel strategy to meet them everywhere they are.
Thanks to its unique capabilities, an effective SupplierXM platform allows retailers to meet all these needs and requirements while achieving three primary objectives.
Retailers looking to improve responsiveness, accuracy, and scalability should implement a SupplierXM platform. There are several important indicators that your organization could benefit from SupplierXM. Ask yourself the following questions:
If you answered “yes” to any of the questions, it’s time for a SupplierXM platform. A powerful SupplierXM platform can help simplify your supplier product data-management process, reduce time and effort put into locating accurate data whenever you need it, improve your time to market, and more.
By controlling your supplier product data, you can improve product experience, which then increases customer satisfaction and grows your business.
An effective SupplierXM platform can help retailers find continued success in the “new” normal of commerce by exhibiting responsiveness, accuracy, and scalability.
The core benefits of SupplierXM include the ability to:
A SupplierXM platform that offers frictionless supplier onboarding allows retailers to quickly engage and collaborate with thousands of suppliers.
Implementing a SupplierXM platform that offers a proven onboarding methodology tested suppliers of all sizes, automated notification tools to identify and send requests to the right supplier contacts, and a dedicated and experienced support team to facilitate supplier onboarding is essential.
A SupplierXM platform must support collaborative data collection, which helps retailers:
SupplierXM’s flexible data quality management enables retailers to keep up with ever-increasing product data volumes.
An effective SupplierXM platform should also:
An effective SupplierXM platform will allow you to provide winning omnichannel shopper experiences without having to sacrifice responsiveness, accuracy, or scalability.
Not only will it help you give the differentiated experiences consumers crave, but you’ll also strengthen your supplier relationships and your product data — a win-win situation for brands and retailers.