The e-commerce business is growing more than the predicted growth rate due to the Covid-19 crisis and with social distancing being encouraged. At the same time the most worrying factor is the surge of product returns. E-commerce market statics show approximately 30% of all products ordered online are returned.
One of the main reasons for product returns is that online Product information does not match the product received and they look different in reality.
This is because of incorrect, inadequate or misunderstood product information. It’s all about better product information which can reduce the returns. Returns not only cause huge revenue loss, but also lower customer confidence and market reputation.
How online retailers can proactively improve the product information? It can happen only though a focussed approach to improve the accuracy of the product data. The product information should meet customer expectations and improve their experience.
What are the key characteristics of good product information?
Completeness and quality of data: The product data should be complete. All required mandatory attributes should be available and the accuracy of the data should be 100%. The consistency of the data across vendors and categories is also an important factor to be considered.
Good product image: It is always better to provide an image of the product with dimensions. The customer can easily identify the product and visualize the size of the product.
Searchability: Customers should be able to easily search for the product they are looking for and should be able to compare with similar products. If customers can’t find the right product, they might look for alternate retailers.A well classified and enriched product information makes the searchability easier.
Localised content: Customers prefer to see their product description in their own language. Always translate the product information into the target market’s local language.
Contextualised content: Enriched content always improves the product experience. A rich content makes the product as realistic as possible.
Transparency: Transparency on the product details, adherence to the regulatory compliance requirements and country of origin etc. can help build customer confidence in the product.
By implementing a robust Product Information Management (PIM ), companies will provide a detailed information about the products sold online. We at Enventure, help organizations to enrich accurate product information on their online store to provide complete product specifications, to help customers make the right purchase decisions and drastically reduce returns.
