The shift to online shopping has been rapid and massive within a short span of time. Data suggests that eCommerce retail has grown 2-5 times after the pandemic. Customers are leveraging multiple channels and platforms to make online purchases, instead of just using a brand website or a marketplace.
Great offers and discounts, one-day delivery, easy returns, instant refunds, etc. do attract customers amid the clutter and noise in the market. But how do brands elevate their online shopping experiences? How do they retain more customers and increase customer lifetime value?
By offering all relevant product information in a consistent, accurate and personalized manner across all customer touchpoints. Data suggests that 75% of customers are spending time and energy researching products across online sales channels including social media, marketplaces, etc. before making purchases online and offline.
Given how important product information and research are to customers, brands that don’t provide all relevant information to customers are bound to lose potential business. Further, this information needs to be easily and quickly accessible to customers at all touchpoints they prefer. This is where product enrichment is particularly useful to brands. In this article, we will delve into product enrichment and its downstream benefits for brands.
Product enrichment, also known as catalog enrichment or eCommerce data enrichment, is the process/practice of augmenting the value of eCommerce product data by improving its quality, accuracy and relevance. Product enrichment empowers brands to tell the customers how the product fits into/improves/adds value to their lives.
Product data is enriched by adding all relevant information that will be useful to the customer. For instance, adding deep, intelligent tags to improve product searchability and discoverability, adding more relevant information to the product description, SEO optimizing product content and so on. This enables customers to find relevant products more easily, helping them make informed purchase decisions faster and improving their overall shopping experience.
Brands witness increasing traffic, engagement, conversions and revenues through product enrichment.
As explained above, the aim is to provide all possible relevant information about the product to customers in a cohesive way across all sales channels and platforms. It is not just limited to augmenting product descriptions but all product data including product titles, meta descriptions, attributes and so on.
