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Learn MoreLearn MoreLearn MoreTime-to-market (TTM) refers to the total length of time it takes to bring a product from the concept stage to its launch where it’s purchased by customers. For example, let’s say a smartphone company wants to release a new model in response to the demand to lower its TTM to keep up with competitors. The company then designs, tests, manufactures, and sells the phone in 6 months rather than 12 months, allowing them to capture early demand and beat their competitors to market.
A shorter time-to-market allows companies to launch products before competitors, helping them to get an advantage in the market. And the quicker the product is launched, the quicker money is brought in. A faster time-to-market enables businesses to capture early demand and generate revenue before competitors. By responding rapidly to customer needs and expectations, new products launched improve customer satisfaction, strengthening their bond to the brand and making them more likely to become repeat buyers and advocates, leading to higher customer retention. Quicker market entry also reduces the risk of competitors dominating the space with similar products and demonstrates (and in some cases reflect) a brand’s ability to stay innovative and cutting-edge.
A common challenge when rushing to shorten time-to-market is the risk of inaccurate and inconsistent product information being displayed across various channels, such as specifications, pricing, and images. This leads to confusion, customer dissatisfaction, and even product returns. To counteract this, a business would utilize a PIM system. It addresses this drawback by ensuring that all product data is centralized, accurate, and consistent across all platforms.
Discover how a global sports retailer utilized Akeneo and Unifai to improve efficiency, reduce time-to-market, and create a better customer experience.
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Discover how the French leader in fabric sales utilized AI and Akeneo’s product information management processes to evolve its development strategy.
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The retail industry is evolving fast, and 2025 is set to bring exciting changes. Whether it’s the revival of in-store shopping, the rise of social commerce, or AI-driven personalization, retailers are pulling out all the stops to create memorable shopping experiences. Discover the top trends...
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