Online retail: study showing the importance of good product information
More than 3 500 consumers from 7 countries have been surveyed for this study.
The first learning of that study is that product information quality is considered poor most of the time: only 1 out of 4 customers think it is very good.
The second learning is that when product information is not complete enough or poor quality, more than 70% of customers will purchase another product or the same product on a different channel. Also more than 80% of them have already abandoned a purchase for the same reasons.
The third learning is that more than half of customers have already returned a purchased product because the product information was incorrect.
Last but not least, more than half of customers are ready to pay more for better product information.
This study clearly shows that online retailers should invest in a proper PIM solution and use today tools to have better product information.
- automatic classification
- product description generation from product characteristics
- scraping tool to get relevant product information from suppliers
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