eCommerce industry has quickly bulged into a multi-billion dollar industry soon after it was born. Over the past few years, many trends aided the industry to grow to its current size. Today, product recommendations contribute to a large chunk of the second sale made on any platform. This market is so big that there are some AI tools specific to this feature. With the likes of Amazon are leveraging on this feature, it is necessary for small and medium players to leverage on this feature. For more information on how to cross-sell, we wrote a full-length article on the topic, which you can read here.
Scope and Growth of Global Spare Market
Automotive is widely considered an organized sector across the world. Over the years, as economies got richer, the global automotive market grew at a quick pace. Automotive market, at one point, faced a challenge of spare part distribution. eCommerce quickly filled this gap. Over a period of growth, automobile spares sold online amounted to $6.5 Billion in 2016. This number is set to grow rapidly in the next few years.
With so much at stake, automotive industry players and OEMs slowly started incorporating cross-selling strategies. However, only a few players are truly making the most of it. This is our understanding of how to design cross-selling capabilities into an e-commerce platform. In most instances, we borrowed details of one of our client who is a major automotive spare parts industry player.
Benefits of Having a PIM
PIM plays a critical role in product information management in online stores. PIM is the master for information of the product, version of the product, compatibility with automotive, ancillary products, etc. This set of information is vital for an online store. Automotive companies and OEM manufacturers have been using PIM software for a while. However, there are multiple operation challenges with PIM for small and medium manufacturers. Some of the key benefits of using PIM from an online store perspective are:
- Easy to compare products
In any comparison table on an online store, the comparison is very detailed and has many data points. In order to populate the details of two or more products, eCommerce platform must have complete information. A PIM, which acts as a central repository does the job perfectly.
- Product recommendations
Recommendations are a critical aspect of the online sale. Most online store generates revenue thru effective cross-selling and PIM plays a pivotal role in this. PIM provides the necessary information to the recommendation engine to build context between two products.
- Deeper search
It is a fact that more the information available about the product, the easier it is to search. Using the information available in PIM, search on Magento can be designed to populate specific results. This increased information can also make it easy for a user to sift through a huge array of products. Have you read our blog on need for a smart search and optimized search features?
- Build great experience
Extra information always helps in building a great online store. The above-mentioned features are a great set of examples as to how PIM can aid in building a great user experience.
How i95Dev can help
PIM integration with the rest of the eco-system is a vital piece of the business process. With i95Dev benefits
- Make sure all your platforms are in unison
We are integration experts. Our team helped many companies build a connected eco-system to automate the data flow amongst multiple platforms. Magento integration with PIM was a requirement in one too many projects. Given this experience is more on the functional front, our clients are not restricted to choose from any specific set of PIM systems.
- Make sure the information in your PIM is put to good use
PIM is a trove of information pertaining to products. This information when putting to good use can help accelerate sales in many ways. Our team of experts can help you build that customization to leverage on this data.
- Design innovative marketing campaigns for specific product buyers
Online store owners design many promotions for their product catalog. These promotions succeed when they are personalized. The integration with PIM can provide the eco-system with the information to design specific campaigns.
- Improve search engine optimization
Search engines love product information. When you update your PIM with the accurate information, the same is reflected on every other platform and eventually on search engines. This real-time update will ensure your product will never have outdated information on search engines.
- Design user experience specific to the product
Not every product is the same. Some product might need more information, while in some cases you need to provide visual information. These custom requirements, while executing on Magento platform, need a lot of information in custom formats. A custom integration with PIM can make this possible.
When embracing a PIM, customization, and integration with Magento makes all the difference. To build the above features into your business process, you need an integration expert with diverse experience. i95Dev has both the functional and technical expertise to address your requirements. We have connectors to connect Magento with MS Dynamics GP, NAV, AX, Sage 100 and SAP B1. For more information on how we can help you, contact us on info@i95Dev.com.