The Amazon effect is a catchy phrase to describe the ongoing evolution in how Amazon has influenced people’s shopping experience. It also sums up the resulting disruption in the retail market for both online and physical outlets.
Did you know that over half of US shoppers begin their product searches on Amazon.com? Regardless of where the end-consumer decides to make their final purchase, their access to information about the product (which 50% of the time is supplied by Amazon) influences their decision to purchase.
According to FierceRetail, “Information about the product has grown to become as important as the product itself – influencing 56 cents of every dollar in retail sales.”
Have you ever searched for one of your products on Amazon.com? Are your products represented correctly? Does the product content support the product you are trying to sell?
What does the ‘Amazon Effect’ and desire for more product information mean for brands, manufacturers, and distributors?
The Amazon GDSN Product Content Initiative with 1WorldSync
Brand owners should be proud of the products they sell and ensure they are represented appropriately on Amazon.com. By taking control of your product content, you have a huge opportunity to drive incremental revenue and capture new customers.
In partnership with 1WorldSync, Amazon has joined the Global Data Synchronization Network (GDSN) to make it easier for brands, manufacturers and distributors to:
- Provide an automated process to manage and distribute product information to Amazon including Prime Pantry, Amazon Fresh etc..
- Improve the accuracy of the product content listed on Amazon.com.
- Understand the completeness and quality of the product content supplied via the GDSN.
Amazon is now able to receive enriched, standardized product content through the data synchronization process enabling Amazon to receive product content and changes in real time.
Utilizing the 1WorldSync Product Information Cloud (PIC), not only can brands easily improve their product completeness and accuracy of the products listed on Amazon.com, but also enable fast turnaround time on attribute changes in order for optimized product listings.
Amazon Improves Product Quality and Completeness
Since launching their Catalog Content Capture Initiative and receiving product content via the 1WorldSync GDSN connection, Amazon has improved their attribute coverage from 71.5 to 97.9% and data quality has improved from 59.7 to 90%. This serves as a testament to the importance of sharing your GDSN data via the 1WorldSync Product Information Cloud!
Are You Ready To Tap Into The Power Of The Amazon Effect?