In product data, we trust: the need for a “centralized digital version of the truth” for packaged products
Consumer Packaged Goods (CPG) is a $1.3 trillion sector still dominated by traditional channels. But, according to the World Economic Forum , online sales will grow from around 10% today to 40% in 2027. Therefore, digital commerce represents a huge opportunity . The internet has changed consumer behavior forever. Today, the path to purchase includes social media, apps, internet research, in-store visits, and online purchase, and not in this particular order. As consumers move rapidly between the online and physical world, they expect consistent product information along their individual paths to purchase. They demand deeper details than just the label info. For this reason, companies without accurate and robust product data may experience lower online purchases, higher product returns, lower customer experience and a serious risk of brand damage. WHAT ARE THE KEY DRIVERS FOR THIS NEW PRODUCT DATA PARADIGM? Product visibility in e-commerce platform The e-commerce boo...