April 8, 2020
Only 2.86% of online retail visits become conversions. Staggering. You probably never imagined this rate to be so low. It looks like e-commerce stores from all over the world are doing something wrong.
Many of them underestimate the power of product data. No matter if you have decided to start selling your products on Instagram or simply list them on another marketplace, you need to have data on your products.
And, it’s not just about having any kind of data. It’s about having relevant and quality product data. If you add poor data to your product data feed, your results will also be poor.
Results depend on various factors, like the accuracy of your ad target, the attractiveness of the title, and the relevancy of the product description. And all these factors will bring results if they can rely on accurate product data. This is important because the competition is harsh, and your customers will easily go to the next seller if they can’t find what they need in your product information.
But, how to achieve this? How to win over competition, create a seamless customer experience, and maximize results?
The answer is—clean product data. What’s this anyway?
Clean product data is something that’s achieved through good PIM (Product Information Management). Product information management is a process of creation and maintenance of product descriptions for product catalogs. It’s a market worth $7 billion and expected to reach $11.4 billion by 2024, due to the growing adoption of PIM solutions from companies that don’t want to suffer from data inconsistencies and poor data syndication.
PIM makes your product catalog processes more efficient, providing seamless customer experience and boosting conversion rates. At the same time, it reduces your time-to-market and makes your expansion to new markets much easier as it can handle data in different languages.
With good PIM, you get accurate, complete, and standardized product data, meaning you get clean product data. Your product feed doesn’t have missing information and contains correct and healthy product data.
How to manage product data effectively?
Product information is traditionally managed through several platforms, making it uncentralized and unstandardized. Spreadsheets, enterprise applications, and digital asset management systems all contain product data that’s difficult to manage. Moreover, this approach increases costs, time-to-market, and the possibility to make a mistake.
The solution to these challenges is an AI-based automatic tagging engine that replaces manual work and reduces costs. This engine can auto-tag an entire catalog in just a few minutes—only by analyzing its images.
Thanks to advanced Deep Learning algorithms, automatic tagging tags photos in the product catalog based on their characteristics. These algorithms completely automate the data management process and require no human intervention, generating metadata for catalog assets.
Automatic tagging scans a particular image, recognizing clothing in images just like a human brain. This way, every image gets attached attribute labels which represent deep insights about the product and its characteristics. The AI algorithm learns from the tags and collects data about how they are used, who is using them, and how they are connected to other tags.
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This process makes catalog management well-organized, allowing e-commerce stores to monitor sales, discover their bestsellers, get rid of unpopular products, and manage stocks efficiently.
Automatic tagging makes product data clean by organizing products according to their attributes, like style, design, brand, color, etc. The data can be maintained clean by adding more tags over time, keeping the catalog up-to-date with the latest fashion trends. These tags can help e-commerce stores dive deep into their sales analytics and have a greater impact on their visitors’ buying decisions.
Why do you need clean product data?
Well, you probably won’t get good results if your product feed is messy. Clean product data can help you improve your e-commerce store in many ways:
Cleaning up messy product data through automatic tagging brings you many benefits beyond just cleaning the database. It also structures your products consistently, creating a logically-organized product feed.
Your offer is clear and precise, as you eliminate incomplete and inaccurate product data. Your customers are well-educated and know exactly what they are purchasing. Your products are easily discoverable as accurate data leads searchers directly to your products.
Pixyle.ai’s automatic tagging engine can keep your data clean by automatically scanning your products’ images in the blink of an eye. Our AI-based technology adds accurate and rich descriptive tags to your products, providing relevant and healthy data for your e-commerce store. Make every visit count by giving your users exactly what they want.