Research Points Out That the Return on Investment (ROI) From Product Information in Multichannel Commerce… Increases Margins by 44 %, with a Conversion Rate of 35 %By Heiler Software Ag, PRNE
Wednesday, August 3, 2011
DETROIT, SYDNEY, and STUTTGART, Germany, August 4, 2011 -
The results of the international study shows a return on investment (ROI) from an Enterprise Product Information Management (PIM) solution is possible within the framework of a multichannel commerce strategy. Over 400 retailers and manufacturers from 14 countries participated in the extensive study by Heiler Software.
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The study at www.pimroi.com delivered measurable results and demonstrated the benchmarks for how international retailers and manufacturers can optimize their business model revenue figures and costs with Product Information Management (PIM).
The enormous growth rate of e-commerce also means an increase in the demand for data quality in the web shop. When looking at the survey results it can be clearly seen that the conversion rate, margins and acquisition of new customers, are seen as the most important factors.
The increase of the conversion rate without PIM was at 27 %,with PIM at 62 % (+ 35%) and likewise the increase in profit margin without PIM was at 36 % and with PIM at 80 % (+ 44 %) was seen as a significant PIM benefit. However the acquisition of customers at 69 % with PIM was estimated as being 30 % higher than the performance without PIM.
75% More Speed for e-commerce
The length of time from changing a product at the e-commerce site is an important key performance indicator for the web shop. Here the use of PIM reduces the period of time significantly from an average of four hours to one hour.
Success factor: Supplier Integration in Retail
Retailers need to integrate supplier data much more often each year. The study confirms that the retailers using PIM were considerably faster (7 through 14 days) in comparison to 21 through 28 days.
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