Happy New Year! In a recent conversation with the 1Worldsync marketing team, I was asked to look forward and share insights on the direction that commerce is headed in 2018 based on some of key events that we experienced in the marketplace. Please pull up a chair and join us for a few minutes as we journey into the future!
What were some of the key priorities for 1WorldSync in 2017 that encompassed both our technology and market expansion?
2017 has truly been a momentous year for 1WorldSync. From releasing new capabilities like Sales Kit to supporting Amazon and Alibaba in their quests for quality content, to working with customers like Tyson and P&G to support their SmartLabel initiatives, our partnership with our global customer base of 25,000 has pushed us to continue to innovate. Every year, 1WorldSync continually strives to make it easier for our customers to share and transform their trusted product content into a competitive differentiator. 2017 was no different.
What is your advice for brands and retailers that want to make their products digital, discoverable and highly shoppable in 2018?
- Focus on the customer: According to Forrester’s 2015 Customer Experience Index, 86% of companies want to excel at customer experience. But only 27% of brands even qualify as “good” in the eyes of their customers. Today’s shoppers want exceptional experiences exactly when and where we want it. Understanding your consumers’ needs and then tailoring the rest of the organization to meeting those needs is crucial.
- Break down organizational silos: In many companies, online stores are operated by a specific “digital” team, while physical stores are run by yet another operations team. Further, there may be another team responsible for GDSN data and another for web ready product content. This siloed structure inside an organization can result in a fragmented customer experience. It is crucial to have a holistic strategy for consolidating and distributing product content across the organization.
- Leverage one solution to enable Omni-Channel retailing: You cannot keep up with the ever increasing demand for product content, unless you have one solution that addresses the entire project. By enabling products to stand out in a crowded omni-channel world, 1WorldSync delivers rich and trusted product content, including digital assets and insights – to engage customers and consumers – regardless of location or medium.
How do you think brands and retailers can better compete with trusted product content that their customers can count on in 2018?
No matter where you are in your product content journey, focus on data quality! Data quality is important because:
i) 88% of consumers say that detailed product content is extremely or very important to their purchasing decision. Consumers expect rich and trusted product content on all channels: desktop to mobile.
ii) E-commerce recipients are requiring more and more data in order to sell on their websites. Some are factoring in completeness and accuracy of data in search rankings and others are applying penalties who underperform from a data quality perspective.
Where do you think commerce is headed in the age of the connected consumer?
Technology like connected home devices, virtual reality, streaming television services, voice ordering and drones have made digital shopping easier and more integrated into everyday life.
The shift to the connected consumer shows no signs of slowing down, and buying habits are transforming. Retail isn’t just about when customers are ready to buy anymore– it’s a constant engagement with technology and experiences that drives the future of commerce.
We predict these three trends will shape the future of retail in the years ahead.
- Consumers will continue to demand more product content to enable data driven decision making.
- Marketplaces will be the driver for global revenue in the retail world.
- Organizations will remove silo shackles in order to unify disparate data.
What can we look forward to from 1WorldSync this year?
2018 will be the year of consistency and uniformity within the 1WorldSync product cloud. With unification across our technology architecture, we will focus on an improved user experience ranging from sales engagement to support model to industry involvement.
As we wrap up another year, I want to thank you for your continued business and trust in 1WorldSync. At 1WorldSync we truly believe we are one community. The power of 1 adds up to empowering our customers with trusted content to make informed decisions for their health, and well being. We continue to strive to deliver trustworthy content, anytime, anywhere.
On behalf of the entire company, I can confirm to you that we are motivated and inspired by the opportunities that you give us to help you succeed. Continuing to deliver results that exceed your expectations is our top priority in 2018.