This holiday season will set records for the number of sales made via smartphones and tablets. One industry report says as much as 14 percent of retail sales, on average, will be generated by mobile devices. That is an estimated increase of 40 percent from a year ago. Omnichannel commerce will reach new heights in 2014 and we are encouraged that retailers are becoming more aware of consumers using virtually every channel available to them before making a purchasing decision.
Even with time-based events such as Black Friday and Cyber Monday, there is a trend toward consumers stretching out their buying over the holiday season. 24/7 online access is the driving force here, as consumers are comparison shopping and researching before getting out that credit card.
The shift to mobile and online will continue in 2014, presenting retailers with an opportunity to provide consumers with a seamless, omnichannel shopping experience where they feel fully knowledgeable about a product and have confidence in their buying decision.
Data governance – the management of product information as well as inventory, content and operational data-- is at the heart of a well-executed omnichannel commerce model where data can no longer be siloed by function. Marketing, sales and supply chain teams must have access to integrated data in order to respond quickly to customer needs. Product information must be accurate and consistent across channels. Real-time data will be imperative as consumers move from phone to store to web, expecting their stopping point to be bookmarked, then allowing them to return through a different retail channel to continue browsing or make a purchase.
At PlumSlice, we have developed a data governance solution that enables this integration of key functions and product information. Team members can upload and share information in real time via a centralized collaboration portal and knowledge repository, further ensuring the customer gets current, clean data. This is essential to a customer experience that requires up-to-the-minute, accurate data on prices, availability, and shipping charges across channels.
The way in which consumers shop is evolving and we at PlumSlice believe it’s time to look at data governance as the informational bridge between all shopping channels- whether the consumer is standing in the aisle of a brick-and-mortar store, or cruising shopping apps on their phone.