Hello Akeneo Community, Today, I’m excited to talk about a natural progression in our journey at Akeneo. Our SaaS offering, Serenity, has grown into our most capable and fastest-evolving product, and in order to invest our resources efficiently, we will not be releasing any new versions of our PaaS (Flexibility) and on-premise offerings. This decision is a reflection of both the evolution of our customer needs and the advancements in our technology. Let me walk you through our journey, enriched with key insights and data points.  

A Little Bit of History 

Back in 2017, with an entirely on-premise customer base, we stepped into the cloud space. Our PaaS offering, Flexibility, was a bridge connecting our legacy of customization with the emerging cloud technology. It was an exciting time, with 45% of our customer base embracing PaaS by the end of 2018. However, as we continued our journey, we noticed a shift.   As you can see above, the landscape has changed over the years By the end of 2023, SaaS adoption soared to 80% of our customer base, a clear indicator of changing preferences and needs. We listened to our customers and acted accordingly – popular custom features from PaaS such as table attributes and import/export mapping were seamlessly integrated into Serenity, and the Akeneo App Store grew into an expansive, customizable network of expert partners that reduces the need for a dedicated PaaS solution. At Akeneo, we firmly believe in the importance of adaptability and responding quickly to market changes, and so these reasons and more support our focus on delivering SaaS capabilities in the future. Plus, transitioning to a SaaS only offering will result in:

• Operational Efficiency: Migrating between PaaS versions, while straightforward, consumed resources. We observed that our clients’ time and effort could be more impactful in areas other than technical upgrades.
• Exclusive Features for SaaS Users: Our newest innovations, including Activation and emerging AI capabilities are designed for SaaS, offering cutting-edge tools that were not possible with PaaS.
• Reduced Carbon Footprint: A SaaS model is more resource-efficient, aligning with our goal to minimize environmental impact. We estimate the carbon footprint of a PaaS instance to be about twice that of a SaaS instance.
• Focus on Innovation: Freeing our resources from PaaS development allows us to expedite new features and products, fostering a culture of rapid innovation.

 

Comprehensive Support for PaaS Customers

Though we’re excited for the future, I’d like to take a second and acknowledge the importance of a seamless transition and continued support for our PaaS customers, which is why we’re investing nearly $5 million in resources designed to mitigate concerns, address potential challenges, and enhance the overall migration experience. This includes:

• Dedicated Professional Services Team: To ensure a smooth transition to SaaS, we have assembled a dedicated team of 13 individuals, comprised of both Product and Professional Services team members, at your service. This team is specifically tasked with assisting our PaaS customers in migrating to SaaS over the next 2.5 years, providing tailored support and expertise every step of the way.
• Focused Product Team: Understanding that feature parity is crucial, we have a dedicated product team identifying and addressing any major feature gaps that could hinder migration. This team is committed to ensuring that all critical functionalities available in PaaS are seamlessly transitioned or adapted to the SaaS environment.
• Extended Support Period: We’re extending support for the last PaaS version, V7, until September 2026, giving ample time for our customers to plan and execute their migration with our full support.
• Investment in App Engine: We’re also enhancing our App Engine to offer more SDK-like capabilities, providing more flexibility and customization options in the SaaS environment.

 

A Migration to Serenity 

This shift towards SaaS is a logical step in our growth trajectory, driven by data, customer feedback, and our commitment to innovation and sustainability. It’s a testament to our adaptability and dedication to providing the best solutions for our community.  If you have any questions or concerns about this migration, please do not hesitate to reach out to your point of contact at Akeneo. We’re excited about this new phase and grateful for your continued support!

Akeneo was highlighted as a leader in optimizing omnichannel product experiences and featured among the top 15 technology companies in the latest equity funding round. 

 

 

About Viva Technology

VivaTech accelerates innovation by connecting startups, tech leaders, major companies, and investors responding to our world’s biggest challenges. Each year, over four exciting days in Paris, VivaTech creates Europe’s biggest technology and startup event, exploring the most disruptive topics in tech with world-premiere demos, launches, and conferences in a collaborative ecosystem. This is where business meets innovation. Join us for the eighth edition of VivaTech 22-25 May 2024. For more information go to our website at https://vivatechnology.com/media and follow us on social media @VivaTech. 

 

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 13 offices spanning Europe and the US. For more information, please visit www.gpbullhound.com.

 

About Akeneo

Akeneo is the product experience (PX) company and global leader in Product Information Management (PIM); creating a world where every product interaction is an experience that guides consumers and professionals to the best purchase, anytime, anywhere. Akeneo empowers business leaders with software, education, and an engaged community all focused on the practice of product experience management.

Leading global brands, manufacturers, distributors, and retailers, including Chico’s, CarParts.com, TaylorMade Golf, Rail Europe, Kering, and more trust Akeneo to scale and customize their omnichannel commerce initiatives. Using Akeneo’s intelligent Product Cloud, companies can create elevated product experiences with user-friendly and AI-powered product data enrichment, management, syndication, and supplier data onboarding; as well as a comprehensive app marketplace and partner network to meet business and buyer needs.

For more information: akeneo.com

Spring has always been a season of renewal and innovation, and this year, it’s brought something truly special for the Product Experience (PX) Community. In case you missed it, the team at Akeneo announced some pretty exciting updates during the Spring Release keynote at Unlock Boston. From a sleek new Salesforce App to new sales channels available in Akeneo Activation, there are a slew of developments that we’re buzzing for, but there is one area that we’re particularly excited about: AI. In a world where technology continually shapes and reshapes how we interact and shop, staying ahead of the curve is not just an advantage – it’s a necessity. That’s why we’re so excited to unveil some of the newest native AI capabilities within the Akeneo Product Cloud. But first . . .  

What’s a Product Cloud?

A product cloud is a composable SaaS-based technology suite designed to orchestrate, activate, and optimize the entire product story across all owned and unowned channels. The modular nature of a product cloud means that your team is able to personalize your tech stack to fit the exact needs of your organization.  Plus, a product cloud should be able to support the entire product record, including both hot (dynamic) and cold (static) data. From pricing to digital assets to size dimensions to user-generated content, the product cloud acts as a single system of record to house all of this data that is scattered across different technologies. The last defining feature of a product cloud is its usability; any number of users, managers, administrators, developers, or integrators should be able to hop in at any point and understand what product information lives where, how to access it, and how to syndicate it to the right channels in the right way. Technologies that require extensive IT knowledge, or rely on individual employees who know how to operate the system, simply aren’t scalable.  

The Intelligent Product Cloud

After acquiring the AI platform Unifai in September 2023 and announcing over 20 AI apps in the Akeneo App Store, the team here at Akeneo has invested heavily in AI, even assembling a team of experts with deep knowledge in the field of AI who will serve as the foundation for all future AI innovations in the Akeneo Product Cloud. But before we get too ahead of ourselves, let’s take a look at some of the new and improved AI capabilities within the Akeneo Product Cloud that were announced in our 2024 Spring Release.

1. Native GenAI in Akeneo PIM

In the fast-paced nature of today’s market, the ability to quickly generate and adapt content is crucial. Harnessing the power of generative AI, Akeneo PIM now enables your business to create bulk product content in minutes that not only resonates with your target audience but also aligns with your brand voice and product specifics. Expanding into global markets requires content that speaks the language of your customers – literally. New functionality in Akeneo PIM also offers the ability to translate product data and romance copy into more than 50 languages, enabling your organization to easily adapt content to meet regional market expectations and personalize the customer experience. Not only do these updates amplify productivity, accuracy, and scalability in the content creation, translation, and localization process, but they also help to streamline the entire product content creation and translation process as you’ll be working within the product edit form that you’ve already been working in in Akeneo PIM – no additional tools or AI expertise needed.  

2. Native GenAI in Akeneo Supplier Data Manager

Akeneo Supplier Data Manager is also now equipped with native AI capabilities to onboard suppliers faster and more efficiently.  By automating critical processes such mapping and normalizing supplier data to PIM attributes, categorizing products according to PIM families and categories, and enriching product records with unstructured product data, and by simplifying the complexities involved in handling vast amounts of supplier information, Akeneo SDM is creating a more streamlined and efficient supplier onboarding process for all. How you manage your supplier relations has a direct impact on the customer: faster onboarding means businesses can bring their products to market more quickly, and streamlined operations can result in less data errors and inconsistencies. Overall, Akeneo’s AI-powered Supplier Data Manager enables your organization to:

• Automate some of your more manual grunt work, ensuring data consistency for product experiences across all channels
• Improve time-to-market
• Increase the accuracy and completeness of your entire product data record
• Foster a more efficient, mutually beneficial collaboration between your organization and your suppliers

3. AI for PX in the Akeneo App Marketplace

The Akeneo App Marketplace is the third exciting area of AI investment announced in Spring Release 2024. With over 200 apps and integrations, including 37 new additions in 2023 alone, the Akeneo App Marketplace offers an unparalleled array of technologies that leverage the power of AI to transform the quality, accuracy, and relevance of product information across all channels and markets. Though not an exhaustive list, a few noteworthy additions to the Marketplace are:

• Grand Shooting – Catalog Sync App: This is an AI-powered solution which facilitates image quality control by retouching non-compliant images in real time. This real-time correction ensures that product images are always of the highest quality, enhancing the visual appeal of online catalogs and improving the overall product experience for customers.
• Copysmith AI App: Recognizing the importance of compelling and accurate product descriptions in eCommerce, the Copysmith AI App empowers users to generate engaging product narratives effortlessly, simplifying the creation of product descriptions and conveying key product features effectively.
• Smartling App: This application supports seamless automation and management of product descriptions and other content across different languages, facilitating a truly global reach for businesses. By automating the translation and localization process, this app ensures that product information is accurate, culturally relevant, and resonant with international audiences, thereby enhancing the global product experience.

Our ever-growing selection of AI apps in the Akeneo App Store supports the flexibility of a composable commerce tech stack, while enabling customers to take advantage of AI innovation from trusted business partners.  

The Future of the Intelligent Product Cloud

AI is changing the name of the game, and those organizations who embrace the future of technology will be the ones to stand the test of time as AI only promises to become more and more prominent in our everyday lives. These native GenAI enhancements to the Akeneo Product Cloud are designed to empower businesses to streamline workflows and elevate the overall quality of product experiences across the globe. But this is just the beginning! With our team of AI experts on board, we are only getting started with our AI journey, so make sure you stay tuned to see what’s coming next. For those keen to explore these advancements further, we invite you to discover the full details of our 2024 Spring Release. Learn more here!

As we commemorate International Women’s Day, we’d like to take a moment to reflect on the ongoing journey towards gender equality within the tech sector. As of late 2023, women made up about 35% of the tech workforce, but that number starts to dip as you climb up the corporate ladder. In C-suite leadership roles, women make up only 25%, and that dwindles to a measly 5% for women of color.  The tech industry continues to be a hotbed of innovation and transformation, influencing virtually every aspect of our lives – women have to have a seat at that table of discussion, not just as participants but as leaders shaping the future of technology.  In light of this, we’d like to highlight the voices of a few great women leaders in our industry. At NRF this year, the Women of MACH recorded an episode on emerging trends to come in this year and beyond.  Hosted by Amanda Cole, Chief Marketing Officer at Bloomreach, the episode featured insightful discussions with Kristin Naragon, Chief Strategy Officer at Akeneo; Casey Gannon, VP of Marketing & Technology Partnerships at Bold Commerce; and Isabell Aakervik, Chief Expansion Officer at Sitoo.  Together, they shared their expertise on a variety of interesting topics, including generative AI, omnichannel experiences, strategies for reducing returns, and the future of sustainability initiatives. Plus, these women share their advice on how to not only navigate a male-dominated industry, but how to bring your fellow women along. You can watch the full video here or check out the 5 key takeaways we’ve distilled for you below.

1. The rising prevalence of genAI

“I think a lot of our technology companies are learning how to respond to AI and make sure that we focus on the customer experience.” – Amanda Cole, Chief Marketing Officer, Bloomreach Throughout 2023 and into 2024, the conversation around AI and large language models gained significant momentum. The women in the panel shared how their individual companies are navigating this new wave of technology, and how they incorporated AI-powered solutions to enhance operations across various instances. While the potential of AI can often be hyperbolized and oversold, the panel focused on the practical use cases that companies could employ AI technology today, such as:

• Generating and enriching product content
• Cleansing data for reduced inaccuracies
• Enhancing work automation
• Supporting customer service roles
• Automating content translation

2. The importance of omnichannel experiences

The “shop anywhere” concept has been gaining traction for a while now, underlining the need for brands and retailers to offer seamless experiences across every customer touchpoint. The women of the panel touched on innovative strategies for merging the digital and physical realms of customer engagement, and highlighted the consequences of incomplete, poor product experiences; the dreaded return. To meet these growing customer expectations, brands and retailers are increasingly adopting new technologies that blur the lines between online and offline experiences, be it unified customer profiles, integrated inventory management systems, or advanced analytics platforms to personalize customer interactions regardless of the touchpoint. The goal is to create a shopping experience that is not only convenient but also consistent, allowing consumers to switch between channels and touchpoints effortlessly. The panel also delved into the specific challenges and opportunities presented by returns that occur from poor product experiences. They highlighted that returns are an integral part of the shopping experience but often come with significant logistical challenges and environmental impacts, and even shared their tips on how to minimize the impact of these returns, particularly through new technologies.

3. Flexible, adaptable tech stacks to prepare for Digital Product Passport legislation

As environmental and social consciousness continues to influence consumer choices, the ability to offer insight into product supply chains and manufacturing processes is a key differentiating factor. As the panelists highlight, although consumers are increasingly seeking out brands that can demonstrate responsibility and transparency, these factors will soon not just be suggested improvements to the customer experience but a global regulation. The European Digital Product Passport (DPP) initiative, part of the broader European Green Deal approved in 2020, is setting a new precedent for transparency in supply chains. The DPP aims to consolidate data regarding a product’s lifecycle, including its environmental impact and supply chain details, into a single, accessible format. This initiative mandates a level of openness that requires retailers to rethink their approach to data management and sharing across the value chain, including manufacturers, repairers, and consumers. Enter MACH architecture (Microservices-based, API-first, Cloud-native SaaS, and Headless) – a technological framework that offers the agility and flexibility retailers need to navigate these evolving demands and regulations. MACH architecture enables retailers to decouple their digital platforms into manageable, interchangeable components, which can be updated or replaced without disrupting the entire system. This modularity is particularly advantageous for adapting to requirements like those introduced by the DPP, as it allows for rapid integration of new functionalities or adjustments to existing processes.

4. Mitigating product returns through product information

In a retail landscape where efficiency and sustainability are increasingly paramount, the discussion of the NRF panelists shed light on a trend with substantial impact: mitigating product returns through enhanced product information.

A strategic approach to product returns can lead to more efficient customer acquisition, higher conversion rates, and strengthened customer loyalty, among others. The first step? Identify the critical details that customers may need at any point in their journey. By anticipating the questions and concerns that customers may have, you can ensure that your product information addresses their needs proactively. Once you’ve identified the essential product information, gather and enrich the data to create compelling product content (this is where genAI, once again, plays a big role, as highlighted by our panelists!). It’s also crucial to localize the product content for different regions and channels to ensure relevance and resonance with diverse audiences and channels. By ensuring consistency and accessibility across all channels, you can empower customers to make informed purchasing decisions without the need for returns.  

5. The importance of mentorship and networking for women in tech

As the discussion on emerging retail trends drew to a close, the panelists shifted focus towards fostering inclusivity and empowerment for women and diverse groups within the tech industry. Their conversation underscored the crucial roles of mentorship, self-belief, and the embrace of vulnerability as a strength in navigating the path to representation in technology and leadership roles. Below are just a few of our favorite quotes: Casey Gannon: “I have two really simple pieces of advice. The first is to find a mentor who is where you want to be  in 5 to 10 years – particularly, if you’re a woman, try to find a woman mentor {in that position}. The second is just to prioritize your network and particularly with other women in your industry.” Kristin Naragon: “If you’re a woman in a position of some influence or power, I think it’s really important not only to find and seek out females who you can lift up with you but also to really mentor the men who are coming up the ranks. I take the time on a very regular basis to work with men because it’s important for them to see our styles and how we lead, and to make sure that they feel, when they rise into those positions of power, that they understand how women lead in similar and different ways.” Isabell Aakervik: Believe in yourself – we women are very good at not believing in ourselves, so I would say stay strong!  Amanda Cole: This panel is four powerhouse professionals who just all happen to be women in MACH. There’s access to experienced professionals who also represent diverse groups and hopefully we continue to see growth in that. My advice would be, do not be a loud negative voice very similar to what Isabelle was saying! Don’t be your worst critic, and definitely take moments to celebrate yourself.  

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  International Women’s Day acts as a reminder for us all that the journey towards gender equity and diversity in tech is a collective effort. It requires the engagement of individuals and organizations alike to create environments where everyone has the opportunity to succeed and contribute to the technological advancements shaping our world. Championing inclusivity, mentorship, and support enables more voices to be heard and more talents to shine within the tech industry, and if we can continue to foster an environment where innovation thrives and diverse perspectives are valued, we can look forward to a future where the tech industry is as rich and varied as the world it aims to serve.

We are thrilled to share the winners of the annual Akeneo Partner Awards recognizing top-performing solution and technology partners for their innovative and extraordinary work for our customers.  Award recipients are selected based on demonstrating exceptional performance in either implementing Akeneo’s Product Information Management (PIM) solution for their clients or developing a joint technology solution that meets unique customer needs.  In both cases, partners have contributed significantly to the growth and development of the Akeneo ecosystem by acting as advocates for our joint solutions in the broader community and by collaborating to ensure the best customer outcomes and product experience (PX) excellence. 

Global Awards

Global Growth Award Solution Partner 2023

Accenture

Accenture is a leading global professional services company that helps the world’s leading businesses, governments, and other organizations build their digital core, optimize their operations, accelerate revenue growth, and enhance citizen services—creating tangible value at speed and scale. They are a talent- and innovation-led company with approximately 743,000 people serving clients in more than 120 countries. Technology is at the core of change today, and they are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. Accenture combines its strength in technology and leadership in cloud, data, and AI with unmatched industry experience, functional expertise, and global delivery capability. They are uniquely able to deliver tangible outcomes because of our broad range of services, solutions, and assets across Strategy & Consulting, Technology, Operations, Industry X, and Song. These capabilities, together with their culture of shared success and commitment to creating 360° value, enable them to help their clients reinvent and build trusted, lasting relationships. They measure success by the 360° value they create for their clients, one another, shareholders, partners, and communities.  

Rising Star Award Solution Partner 2023 

Start with Data

Start with Data are the Product Information Management (PIM) experts, trusted by retailers, manufacturers, and distributors like RS Group, Pets at Home, Pernod Ricard, and Big W to get their product data into the shape customers expect. Throughout the UK and Australia, Start with Data delivers PIM Selection & Implementation, Product Content Sourcing, AI Product Content Creation, as well as Taxonomy & Attribution services. If you need independent PIM advice, help with data preparation and migration or you’re looking to fuel your eCommerce growth with complete, consistent & accurate product data – they’ve got you covered.  

Impact Award Solution Partner 2023 

Bounteous

Founded in 2003 in Chicago, Bounteous is a leading digital experience consultancy that co-innovates with the world’s most ambitious brands to create transformative digital experiences. With services in Strategy, Experience Design, Technology, Analytics and Insight, and Marketing, Bounteous elevates brand experiences and drives superior client outcomes.  

Impact Award Technology Partner 2023 

commercetools

commercetools is the leading composable commerce platform, allowing companies to dynamically tailor and scale shopping experiences across markets. We equip some of the world’s largest businesses with tools to future-proof digital offerings, reduce risks and costs, and build outstanding experiences that drive revenue growth.  

Hero Award Solution Partner 2023 

Avvale

Avvale is a Global Digital Business Transformation Company on a mission to evolve innovative business through the circular economy, enabled by technology. They truly believe that digital innovation and circular economy represent the most effective means to achieve a profitable and sustainable future. Availing of the right technologies, they can bend the traditional linear economic model, based on consumption, into a circular ecosystem, where products and materials circulate at their highest value, as long as possible, and at scale.   

Hero Award Technology Partner 2023 

Bynder

Bynder is a global leader in digital asset management (DAM). Bynder’s powerful, intuitive, and deeply integrated DAM platform unifies and transforms the creation, management, and distribution of marketing assets – this includes video content, images, brand guidelines and much more.   

Accelerator Award Technology Partner 2023

SAP

At SAP, their purpose is to help the world run better and improve people’s lives. Their promise is to innovate to help our customers run at their best. SAP is committed to helping every customer become a best-run business. They engineer solutions to fuel innovation, foster equality, and spread opportunity across borders and cultures. Together, with their customers and partners, they can transform industries, grow economies, lift societies, and sustain the environment.   

MACH Partner Award 2023 

Contentstack

Contentstack – the leading Composable Digital Experience Platform (DXP) provider – empowers marketers and developers to deliver digital experiences at the speed of their imagination. Companies such as ASICS, Chase, Express, Holiday Inn, Icelandair, Mattel, Mitsubishi, Riot Games and Shell trust Contentstack to power their most critical content experiences with uncompromising scale and dependability. Famous for its Care without Compromise™, Contentstack has achieved the industry’s highest customer satisfaction rating. Contentstack is also a founding member of the MACH Alliance, setting the industry agenda for open and composable technology that is Microservices-based, API-first, Cloud-native SaaS, and Headless.   

Integration Award 2023 

Priint

Founded in 2003, priint Group | Werk II is the global leader in solutions that bring Product Data to life. Driven by the strong belief that timely and relevant Marketing materials, digital and printed, are key to delivering an engaging customer experience, priint Group enables organizations to create their marketing publications up to 80% more efficiently through its priint:suite platform, cloud services and integration into virtually any data system.  Whether pre-planned or on-demand, generic or personalized, in one language or fifty, priint brings digital transformation and automation to the creative lifecycle.

Regional Awards

Growth Award North America 2023 

Sitation

Sitation is a key implementation and innovation partner to industry leaders in PIM technology. Focused on working with brands, manufacturers, retailers, and distributors, to provide services aimed at growth acceleration and winning customers on the digital shelf, Sitation specializes in the three pillars of PIM: strategy, data quality, and technology. Sitation also offers a custom suite of software solutions, including middleware, SEO, and AI platforms.    

Growth Award Central Europe 2023 

Vanilla Reply

Reply [EXM, STAR: REY] specializes in the design and implementation of solutions based on new communication channels and digital media. Reply is a network of highly specialized companies supporting key European industrial groups operating in the telecom and media, industry and services, banking, insurance, and public administration sectors in the definition and development of business models enabled for the new paradigms of big data, cloud computing, digital media and the Internet of Things. Reply services include: Consulting, System Integration, and Digital Services.  

Growth Award Western Europe 2023 

Vaimo

Vaimo is one of the world’s most respected experts in digital commerce and customer experiences. For them, experience is everything. It is at the heart of all they do, and they are leading the way in delivering on it in the fields of digital commerce, content management, data management, and insights and activation. As a full-service digital experience agency, they deliver consulting, design, development, support, and analytics services within all four fields. They are a global partner with a local presence, focused on cultivating close, long-term relationships with their clients.   

Growth Award UK/I 2023 

Tryzens

Tryzens is a leading international digital commerce consultancy that takes a holistic approach to understanding and growing their your business, no matter how or where customers choose to buy. Their team of trading specialists, strategists, analysts, UX and technology experts are passionate about helping you achieve your goals by implementing solutions that optimise performance across all channels.   

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  Congratulations to our winners! Our phenomenal network of partners has been instrumental in our journey. We’ve fostered a tight-knit community over the years, and it’s been a pleasure to evolve and expand alongside these remarkable organizations. With 2023 marking a milestone, we eagerly anticipate the boundless opportunities that 2024 and beyond hold for us all. Learn more about the Akeneo Partner Ecosystem and discover how to get involved in the partner community today. We’ll see you next year for the 2024 Awards!

Today, we’re raising our glass to the innovators, the leaders, and the product experience champions who are setting new standards and driving remarkable growth in their respective industries. Join us in celebrating the winners of the Unlock 2024 PXM Champions Awards!  The Unlock 2024 PXM Champions Awards is our way of recognizing the trailblazers who have harnessed the power of product experience strategies with Akeneo to thrive in the dynamic omnichannel environment.  This year, we honor winners across six distinguished categories, each representing a unique facet of product experience mastery. Though the selection process was anything but easy, each of our award winners proved they’re changing the game by tapping into the magic of product experiences powered by Akeneo.  Let’s dive in and explore what makes these winners, winners!  

The Expansion Award: Fossil

The Expansion Award recognizes those who are creating better experiences in their current channels, introducing impactful new channels, and connecting with new audiences, all to drive meaningful business results.  A powerhouse in the lifestyle accessories industry, Fossil is known for its diverse portfolio of fashion watches, jewelry, handbags, and small leather goods. With a presence in 140 countries and 30,000 points of distribution, including 400 company-owned retail locations, Fossil brings each brand’s story to life on a global scale. Fossil’s journey from relying on Excel spreadsheets to adopting Akeneo’s cloud-based PIM solution showcases their commitment to creating seamless product experiences across the globe. This strategic move has not only centralized their product data management but also scaled operations efficiently across 140 countries without the need to expand their team. Fossil’s success story is a testament to the power of embracing flexible, business-driven solutions to drive meaningful growth.  

The Accelerator Award: Drawer 

The Acceleration Award recognizes those who have significantly reduced the time-to-market of their products, decreased the number of steps, and cut back on manual work to accelerate growth.  Drawer, an online furniture seller operating in the French market, faced numerous challenges before implementing Akeneo PIM. They source products from various providers and sell through their website and 10 marketplaces. With a catalog of 4500 SKUs, Drawer sought a solution to efficiently manage their product data and drive business growth. The implementation of Akeneo PIM and Supplier Data Manager catalyzed their transition to an automated system, drastically cutting down product creation time and boosting efficiency. In their journey with Akeneo, Drawer transitioned from a manual, multi-actor process to a nearly automated system, empowering their team and boosting efficiency. They’ve surpassed their own records by creating 200 new references in just one month, demonstrating an unprecedented pace in product launches.  

The Global Award: Insight 

The Global Award recognizes those who are expanding their business outside of their HQ country, flourishing in new territories, and working with local teams to connect with new audiences.  Insight Enterprises, a publicly traded global technology company leverages its technical expertise, broad solutions portfolio, and supply chain capabilities to help businesses achieve ambitious goals as a systems integrator. With a focus on cloud and data center transformation, connected workforce, and digital innovation, Insight empowers organizations worldwide to navigate the complexities of the digital age and drive meaningful business outcomes. Before adopting Akeneo, Insight faced challenges related to a lack of control over data/content, limited business ability for enhancements and new functionality, and a heavy reliance on IT involvement. However, with Akeneo’s user-friendly interface and robust features, Insight has autonomously maintained and expanded a vast catalog of 1.4 million products, significantly reducing reliance on IT resources. The implementation has not only improved catalog content completeness but also propelled eCommerce revenue, marking a significant leap towards achieving their global ambitions. With Akeneo’s implementation in North America proving successful, Insight is now poised to extend its capabilities to Europe, the Middle East, and Africa (EMEA), targeting expansion across 11 new countries in the region.  

The Leadership Award: Peavey Industries

The Leadership Award recognizes those who are improving the lives of their teams through more efficient workflows, creating opportunities to be less operational and more strategic, and empowering their teams to grow.  The parent company of Peavey Mart and MainStreet Hardware, Peavey Industries has been proudly serving loyal customers across Canada since 1967. With a focus on essential products and services for the rural lifestyle, Peavey Mart has established itself as a trusted destination for quality goods and personalized customer service.  Facing the complexities of a vast product catalog and the need for a sustainable technology infrastructure, Peavey Mart found its solution in Akeneo’s PIM. Akeneo’s intuitive user interface, robust API, and seamless integration capabilities aligned perfectly with Peavey Mart’s vision to build a solid and sustainable technology infrastructure that can support optimal product experiences. The results? A 73% increase in productivity and enhanced strategic focus on product experiences, enhanced personalization options for consumers, and improved forecasting abilities. Peavey Industries’ journey underscores the importance of empowering teams with efficient workflows to drive growth and innovation. With a focus on driving innovation and delivering concrete business results, Peavey Mart remains committed to leveraging technology to enhance the retail experience for their customers.  

The Experience Award: Mobili Fiver

The Experience Award recognizes those who provide exceptional product experiences, creates content for the right audience at the right place, and is cutting edge in how they represent it to their consumers. Mobili Fiver, a dynamic eCommerce enterprise committed to delivering high-quality, self-manufactured furniture that resonates with modern lifestyles and refined tastes, exemplifies excellence in providing exceptional product experiences. With it’s product range spanning a diverse array of meticulously designed furniture, Mobili Fiver has established itself as a leader in the furniture industry. Mobili Fiver’s previous product information platform lacked the flexibility required for a comprehensive presentation of furniture products, hindering their ability to communicate the richness of their offerings to customers.  Manual and time-consuming processes hindered their agility in introducing new products to the market, responding to trends, and meeting customer demands in a timely manner. Since adopting Akeneo, Mobili Fiver has been able to address their previous challenges, allowing them to create, configure, and present furniture products with unprecedented ease and speed. The result has been a more informed and satisfied customer base, coupled with an agile and efficient internal workflow that positions Mobili Fiver for continued success in the furniture ecommerce landscape. Leveraging Akeneo’s PIM solution to overcome flexibility and agility challenges, Mobili Fiver is now able to showcase their craftsmanship and innovation through detailed product presentations.  

Ambassador: Assa Abloy

In addition to the five PXM Champion Awards above, Akeneo granted an Ambassador Honor for exceptional use of the Akeneo product and to recognize those who represent, advocate, and contribute to the product experience community. Renowned worldwide for their comprehensive range of access solutions, spanning door and entrance solutions, secure identification solutions, and hotel security, Assa Abloy boasts an extensive product portfolio, including locks, access control systems, and door closers that serve diverse industries, including residential, commercial, and industrial sectors. Like many others, Assa Abloy’s struggled with scattered product data and knowledge bases, leading to inconsistent data across sales channels. With a goal to create a single source of truth for all their products, enhance product manager resources, foster collaboration among brands, and streamline product distribution across channels, Assa Abloy turned to Akeneo. With over 30 users across the business, Assa Abloy maximizes every aspect of Akeneo PIM to ensure operational success and empowers their product managers, marketing teams, and customer service teams to provide accurate and up-to-date product information to customers. They can now create datasheets within minutes, push new products live within 24 hours, and amend SKU information online within hours, significantly reducing turnaround times and enhancing customer satisfaction.  

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  Join us in applauding the achievements of these outstanding brands. Their stories not only celebrate success but also inspire innovation and excellence in the product experience domain. Congratulations to all the winners of the 2024 PXM Champions Awards, and we look forward to seeing everybody at the next PXM Champion Awards! Not sure where exactly you are on your path towards product experience excellence? Take our PXM Self Assessment to find out!

If you have been in or around Boston these past few days, you may have noticed a brilliant purple flame spreading through the city. And did it seem to be burning a bit brighter earlier this morning? That might be because the Akeneo team released the details included in our Spring Release just a few hours ago live at Unlock, the premiere Product Experience (PX) conference happening right in the heart of – you guessed it – Boston. Our Spring Release is packed with exciting, innovative features designed to enable your company to showcase your products better, faster and across all platforms.  While we can’t cover every new addition in detail here, we’re excited to share some of the highlights and how these advancements can elevate your product experience (PX).  

Showcase your Products Better

Automate supplier data onboarding in Akeneo Supplier Data Manager

Now equipped with native AI capabilities, Supplier Data Manager automates the mapping, normalization, categorization, and enrichment of supplier data, enabling your team to maintain smoother supplier relations and transform the data onboarding process. In particular, this updated version of Supplier Data Manager can support:

• Automated efficiency: Eliminate manual tasks, reduce errors and discrepancies, and ensure consistency across all your experience offerings.
• Faster time-to-market: Speed the process of getting products in front of customers, and in new markets or channels.
• Increased data quality: Improve the accuracy and completeness of your product data for better product experiences and build trust with your customers.

 

Showcase Your Products Faster

Generate and translate product content across 50 languages in minutes

Supplier Data Manager wasn’t the only Akeneo solution that received the AI treatment – Akeneo PIM is now equipped with native AI capabilities! Customers will now be able to leverage customizable generative AI to create bulk product descriptions and romance copy across the entire product catalog in minutes, and translate those descriptions into more than 50 languages.  Not only does this feature enhance productivity, accuracy, and scalability in content creation and translation, but it also enables businesses to quickly adapt content to meet regional market expectations without the need for additional tools or expertise.

Business Analytics in Akeneo PIM

Business Analytics within Akeneo PIM offer operational market metrics and KPIs that track how products or product ranges perform on different markets and sales channels.  Included in the Spring Release is a whole slew of updates to our business analytics functionality that will ultimately provide your organization with the foundation to build a PX Strategy based on content impact. These enhanced business analytics enable:

• Increased visibility into the product content impact on business
• Teams to work smarter by providing the right data to make informed decisions
• Faster, more nibble reactions to market trends
• Data-driven support for prioritizing a PX Strategy within your organization

Showcase Your Products Anywhere

New Channels Added to Akeneo Activation

Last year, during Unlock 2023, we announced a new solution as part of the Akeneo Product Cloud: Activation for Retail, which brought our best-in-class product experience technology to product listing pages on retailers like Amazon, Macy’s, Zappos, Nordstrom, and more. This year, we’re back at it again, welcoming Wayfair and Grainger (among others) to our 250+ activation channels. Brands and manufacturers will now have the ability to deliver consistent product experiences on these new channels while easily customizing product information to align with shopper expectations and channel requirements

Customizable Akeneo PIM App for Salesforce

One of the most highly-anticipated parts of this release – a shiny new Akeneo PIM App for Salesforce Appexchange!  This customizable app brings high-quality product information and assets into Salesforce Commerce Cloud, Sales Cloud, Service Cloud, and Experience Cloud, driving greater efficiency, higher sales volumes, and better customer service by giving customer-facing teams instant access to product information that drives more meaningful engagement with the people who are buying and using their products and powering digital commerce.  Deployed together, the Akeneo PIM connects people to products in the Salesforce system where they work, every day. Resulting in:

• Higher sales on B2B and D2C Commerce sites with accurate, up-to-date, and localized product information.
• Sales reps that sell more products, more efficiently, by accessing product descriptions and assets while building quotes and working in Salesforce CRM.
• Customer service reps that deliver better support by leveraging accurate, complete, and up-to-date product information when resolving cases in Salesforce Service Cloud.

Showcase Your Products Better, Faster, & Anywhere with Spring Release

All of the exciting features included in Akeneo’s Spring Release are a testament to our commitment to bringing innovation and excellence to product experiences. By automating data onboarding, enhancing content generation with AI, and integrating seamlessly with sales and service platforms like Salesforce, we’re setting a new standard for product information management and product experiences.  These features not only streamline internal processes but also ensure that businesses can showcase their products better, faster, and anywhere, ultimately leading to a better customer experience. We’ve had a wonderful time celebrating and spreading that purple fire with our PX community of customers, partners, and PX experts at Unlock Boston, and we look forward to seeing what we can create and build together in the future! Couldn’t make it to Unlock Boston? The premiere PX event may be coming to a city near you! Register for Unlock on Tour now, making stops at Cologne, London, and Paris.

For too many years, the success of a PIM integration project relied on key IT personnel, and a heavily-invested product owner. Architects would show up at an early stage, and provide their view on where PIM would fit in the complex puzzle of their legacy system. But times have changed, and it seems that a post-COVID era has given companies the time to rebalance this arm wrestling battle between IT & Business and reshuffle the cards. Before signing on a new platform, we here at Valtech have seen a wave of longer RFPs with more detailed functional requirements, and business & IT teams slowly coming together to revisit their approach to system implementation, listening to the needs of their business users.  The complexity of the implementation project might vary depending on a range of reasons, including

• A greenfield Implementation  
• Replacing a legacy PIM 
• A migration from an on-premises PIM to a SaaS Platform 
• Integrating existing PIM with new systems 
• Expanding the existing PIM in new Business Units and Markets 

But to ensure your PIM, DAM, PLM, or other key product catalog management system implementation success, you’ll need adoption (as seen in previous blog). And to make sure adoption happens, you’ll need to make sure that the team implementing your magical new system will understand the audience, their habits, their fears, their needs, and more!  This is where having a programmatic approach to such a digital transformation is key. It’s not a punctual project, it’s an ongoing one that actually starts at the end of your initial implementation. And driven by the key pillars of change management!   

How to Build a Successful PXM Program

#1 Assemble the right PXM program team players

Success starts with aligning key players, and building the right dynamic around the right objectives with not only your integration team, but also your client team. But with situation like this where IT & business skills are heavily intertwined, who do you really need on your team? Here’s our recommendation if you’re working with a PXM integrator. 

Core PXM implementation team

• Lead consultant or Practice lead. He/She is often the most senior PXM/PIM consultant in the crew. They’ve seen it all and typically have a minimum of 5 years of experience. With a 20-30% of allocation to your program, they can guide the business consultant who has to do most of the configuration heavy lifting.
• Business consultant. Depending on the size of the project we recommend a senior or at least an intermediate consultant who Iwill help you get the most out of your data model, product lifecycle, and workflows strategy. They’ll also be your go-to person for adoption. We talk in general between 50% to 100% allocation to a project.
• Tech consultant. This is a profile we created as most PIM solutions are now leaning towards SaaS only. Their role is between a developer and an architect, and although they don’t need to know customization, they’ll need a deep business understanding and a mastery of API connections to be able to adapt and succeed. The tech consultant’s primary role is to keep the technology easy to maintain. We talk in general between 30% to 80% allocation to a project.
• Architect. Depending on the size of the program and the number of other systems connected to your PIM, a solutions architect could be helpful. Their role is mainly to align integration strategies during the discovery/design phase. His role is between 10-20%.
• Project Manager. You always need to have that person in your team that understands how to keep the group on track, on budget, and on time! In general, we ask this person to understand the biggest milestones associated with the project, along with the roles and responsibilities of each and every one of your team members. We typically allocate between 10-15% to the project.
• Practice Director. A PXM program will get you into politics really fast. If you want to make sure the quality control is there and you have an opinion of someone who has significant expertise in this space, then you might want to establish a Practice Director with at least 7+ years of experience.. The allocation of the budget is not more than 5-10% in case necessary.

Client PXM team 

Once your PIM is successfully implemented, you’ll need a team of PXM enthusiasts to ensure that your project is successfully adopted, and continues to live and get the necessary upgrades to make your product catalog shine!

• PIM Champion. You need one leader who is willing to make the harsh decisions, who has a bird’s eye view on all of your processes, who will act as a moderator for your teams and understands their pain points, and who will be responsible to control the use of your solution. When doing the adoption, he either leads it or designates the person he believes will help get you the stickiness such a platform needs.
• Product Content Specialists. These are either your product managers, product marketing specialists, or in certain cases a vendor who deeply knows your product catalog and the detailed specifications. They will help you select the proper attributes, the proper format, and the values to make a difference.
• Channel specialists. Typically from the marketing or the merchandising team, the channel specialist will master all the requirements necessary for your attributes to be received by different channels (i.e. Amazon, Home Depot, any distributor, etc…). They are also responsible for reviewing the data before sending it to their respective channels and can work along with the PIM champion & product specialists in order to refine the data.
• Architect. This will be the exact same role as you had in the Core PXM Implementation team, except  this one will be on the client side.

Additional optional roles depending on the size of the project include:

• Solution or enterprise architect. Really senior architect for whom additional systems have no secret. This role would be necessary when many systems are connected to your PIM so they can apply the perfect strategy to secure technical scaling over time.
• Additional Middleware engineers. Middleware is the future as more and more platforms become SaaS. There needs to be a middle-man to be able to improve performance when transferring a huge amount of data.
• Other solution developers or technical consultants for API integration. No comments here 🙂
• Change management specialist. When the organization is too large, or if the legacy systems and employees have been here for a long time, there needs to be someone specialized in the analysis and communication of potential resistance to change to help ensure that you have a successful, efficient adoption process. 

Have additional questions? Don’t hesitate to refer to the 5 must have roles in a PX team!  

#2 Adopt an interactive delivery methodology

 In today’s world with dynamic requirements and flexible needs, customers look for three key things:  

• Easy configuration   
• Early improvements  
• Continuous delivery  

PIM projects can also be adopted for agile delivery. Most SaaS platforms have a standard set of out-of-the-box features and connectors to help set up the base PIM with almost zero advanced development required. Some PIM tools allow business users the ability to configure features without the need for additional developers  Quick setup of easy components in the early iteration cycles provides the opportunity to prioritize  more complex custom requirements for development in the upcoming iterations. An agile approach like this allows teams to work in an iterative model where self-organization and cross-collaboration are key. Iterative development allows the opportunity to break down a complex implementation to smaller iterative cycles of Build, Configuration and Test activities.  The above diagram shows a visual representation of a development initiative broken into smaller iterations where each iteration is a condensed version of the SDLC methodology in itself.  Organizations may choose to cover different initiatives during each iteration based on the larger goals, priorities, and complexities.  

Benefits of an Agile-Based Iterative Development  

1. Close Collaboration – Allows for a better understanding of not just requirements and expectations but also mitigation of measures and fixes. 
2. Early Visibility – Early view of initial high priority features in the form of an MVP: e.g. Product Attribute pages available to be shown with sample data at the end of Sprint 1. 
3. Continuous Improvements – Opportunity to fix and improve something that does not meet customer expectations – e.g. Update the Naming Convention of Images coming from DAM to include additional fields.
4. Risk Reduction – Continuous iteration and feedback lowers risks and allows opportunities to correct mistakes at an early stage.

 

#3 Develop a clear roadmap & vision

A systematic approach towards implementing PIM starts with building a scalable PIM roadmap that is  adaptable and scalable for foreseen and unforeseen risks to come in the future.  A PXM-focused roadmap will:  

• Define the strategic vision of the PIM and end-goals of the organization 
• Act as a guiding document for implementation and adoption
• Provide visual clarity of the Scope of Work 
• Enable both internal (i.e. key users) and external (agencies, consultants, etc…) stakeholder alignment 

While ensuring the above, the PIM roadmap should clearly represent the order of various executable phases of the project with clear milestones with the mindset of making it evolutive. An example of a 3-year PIM roadmap is shown below:   Explicitly stating what is in-scope and out-of-scope of the PIM project ensures that both timelines for each phase are met and that the project stays within budget. When the roadmap is built and the respective phases are identified, teams need to define the realistic achievable goals within a specific timeline, and also identify what may not be achievable. A 6-month implementation timeline may involve deploying standard out-of-the-box components with some basic customization while any complex customization can be considered out of scope and can be taken up in a future phase if resources allow. We recommend not starting with an MVP that is beyond 3-4 months – why? Because delaying key business users’ adoption is a threat to the project’s success!  

#4 Establish proper risk management processes

Any major transformation program comes with its own set of risks and hurdles, and PIM implementation is no different. Hurdles can appear in many areas and are not just limited to scope management.  If we divide the hurdles of a PIM project into 3 buckets of Business, Technical and Management, the classification would look something like this:  

Business Hurdles 

• Little to no understanding of the product catalog structure 
• Failure to understand the creation, enrichment, and syndication process workflows 
• No data governance policies established 
• Underestimating product complexity

Technical Hurdles 

• Complex integration landscape 
• Data and information security 
• Lack of understanding of the capabilities existing legacy platforms 

Management Hurdles 

• Lack of subject matter knowledge to execute a PIM project 
• Failure to get commitment from leadership 
• No strategic vision for enterprise adoption 

For example, if we consider the issue of a Complex Integration Landscape – where the PIM is required to integrate with several complex systems – anything without a proper assessment can lead to risks of delays and rising costs. A  strong Risk Management plan can help tackle risks arising out of the above hurdles.  Tools like Risk Matrices can help assess likelihood and impact of risks, thus enabling: 

• Strategies to mitigate the risks 
• Prioritizing and tracking on a severity level basis 
• Deploying resources to neutralize risks 

A risk management matrix can also help customers identify opportunities that were previously unknown. From a PIM standpoint a very simple example can be considered as follows:   While building the integration with ERP, it was found that the ERP data had quality issues with a lot of junk values. While this presents a risk of having bad data flowing into PIM, it also presents an opportunity to review and clean up the data in the ERP.   Overall, risks and rewards go hand in hand; an effective risk management strategy can help firms identify enough opportunities to expand a PIM program into various new and exciting initiatives, markets and regions.   

#5 Establish change management

Whether the transition is from an MS-Excel & email-based process to a PIM, or from an on-premises PIM to a cloud-based SaaS PIM, or any upheaval in habits or processes that impacts people, – change matters, and its management is important for adoption. Change management is especially crucial for organizations that are implementing a new solution among “old habits” and a sticky legacy system. You need to provide a clear and structured approach to transitioning individuals, teams, and the entire organization from the current product data management to the future one.  Here are some reasons why it’s essential to consider the change management during any solution integration: 

• Stakeholder Resistance: If you have any sort of old system already in place, it’s common for a lot of users to be used to these older systems, processes, and execution methods. By identifying the different sources of resistance, it will be easier to set the right strategy to make the change happen. 
• Uncertainty: Not understanding why a new solution is implemented can lead to real misalignment among all stakeholders. It’s crucial to correctly communicate the change, purpose, objectives, and advantages of this new integration and align all the stakeholders involved before, during, and after the integration. Everybody needs to understand the real impact of integration on the global business strategy. 
• Lake of Engagement: It becomes important to have the right team of experts who can help determine the current pain points affecting the current product experience. Whether it’s harmonizing data or launching a new eCommerce portal, setting correct business goals is critical. Involving the right team to address the real business challenges is key. If you involve the right key users, it will bring harmony to the entire organization. 
• Skills Gaps: By integrating the new PIM solution, some users may feel as if they don’t have the skills to adapt to the new processes and technology, but this is not the case as this knowledge will be useful to build the new integration! Train, support, and guide the users to make them feel safe and ensure a better adoption process. Change requires constant monitoring and evaluation to ensure that it is permanently integrated into process, people, and technology!

A changing mindset is not only key to driving adoption through training but it is also critical in driving system enhancements. A PIM which has just been deployed may be able to solve immediate use-case identified; however, as businesses continue to grow, feature-enhancements and additional integrations will be required. As time passes, new users and business units are onboarded who may require additional functionalities to be onboarded.  For example:

• A leading Food & Beverages manufacturer from India decides to enter the Canadian markets and launch its own website along with other channels like Walmart and Loblaws; that would require onboarding new BUs and users from Canada 
• To meet regulatory requirements in Canada, the Marketing Description needs to be displayed in both English and French 
• The existing PIM solution would then require enhancements applicable to Canada which would include addition of new fields, addition of new export templates, minor changes in the User Interface etc. 

In the above scenario, an open communication between entities of both the countries is crucial to drive user adoption. The users should be open to grasping how the changes implemented can lead to higher process efficiency, lower enrichment times, and faster go to market in both countries.   Change management is essential for the successful implementation of organizational changes. It helps align people, processes, and technology with the business goals and objectives of the organization, facilitating a smoother transition and maximizing the chances of ensuring a successful PIM integration. Involving the right people at the right time, and ensuring transparency through clear communication of objectives, advantages, expectations, and guidance ensures a smooth change management process! Looking for more PIM implementation support? Check out some of our other Valtech featured articles diving into the people-first approach to product experiences, how to maximize the ROI of your PXM organization, or the steps to perfecting your PIM selection process. This article is a guest post by Akeneo partner, Valtech.

Benjamin Franklin once famously said, “The only guarantees in life are death and taxes.”

Well, I’d like to petition to add one more guarantee to that list: returns.

In the era of “serial returners”, retailers across the globe have seen a spike in return rates and shoppers are showing no signs of slowing down.

While returns are an inherent part of the retail landscape, high return rates can have far-reaching consequences that extend beyond the bottom line, including:

 

Financial Impacts

High return rates can significantly impact a business’s operating costs in several ways. Firstly, there are logistical costs associated with processing returns, restocking inventory, and managing reverse logistics. This involves labor, transportation, and storage expenses, which can quickly add up, particularly for large retailers handling thousands of returns daily.  As a reference, in 2023, the average retailer incurred $145M in merchandise returns for every $1 billion in sales.

Returns often also result in inventory depreciation. Items that are returned may not be in pristine condition, requiring markdowns or even liquidation to clear out excess stock. They can also put a strain on customer service resources – dealing with return inquiries, processing refunds, and managing customer complaints all require time and manpower, diverting resources away from other areas of the business.

 

Environmental Impacts 

Returns often lead to increased carbon emissions due to additional transportation and handling as each return necessitates transportation back to the warehouse or retailer, contributing to fuel consumption and greenhouse gas emissions. In 2022 alone, emissions from shipping returns equaled 24 million CO2 metric tons.

Moreover, returned items may not always be resold immediately, leading to excess inventory or even disposal. This not only wastes valuable resources but also adds to the growing problem of textile waste in landfills; the volume of returns ending up in landfills in the U.S. nearly doubled from 2019 to 2022, amounting to 4.3 billion tons.

 

Customer Impacts 

One of the most significant yet often overlooked impacts of high return rates is on customer loyalty. 96% of consumers review retailers’ return policies before making an online purchase, and 63% of consumers express a negative feeling about a retailer charging them for returning a product.

While offering a generous return policy can initially attract customers, an excessively high return rate may signal underlying issues with product quality, sizing accuracy, or fulfillment processes. This can erode trust and confidence in the brand, ultimately leading to decreased customer loyalty and repeat purchases.

Moreover, the hassle associated with returns can negatively impact the overall customer experience. Lengthy return processes, restocking fees, or difficulty in obtaining refunds can frustrate customers, driving them away to competitors with more seamless return processes.

In recent years, “omnichannel” has become more of a buzzword than a true strategy. “Omni” is a Latin prefix that means “all” or “every.” Yet nowadays, organizations tend to use the word “omnichannel” to refer to their D2C site and an in-person presence. Maybe a listing on Amazon if they’re more technologically advanced. However, true omnichannel experiences extend far beyond mere presence across online and offline channels. It’s about creating seamless, integrated journeys for customers across every touchpoint, ensuring that they have the information they need to browse and buy at any point along their shopping experiences.  Omnichannel experiences are a critical ingredient for attracting and retaining customers. With 71% of consumers claiming that they find additional product information when they look in multiple places, this is becoming less of a recommendation and more of a requirement for success. Outside of traditional eCommerce, a true omnichannel strategy needs to account for:

1. Social Commerce: With the rise of social media platforms, consumers increasingly turn to these channels not just for socializing but also for discovering and purchasing products. Brands that effectively leverage social commerce can tap into vast audiences and drive sales through targeted advertising, influencer collaborations, and shoppable posts.
2. Customer Support: Exceptional customer support is integral to fostering loyalty and trust. Beyond resolving issues, it presents an opportunity to enhance the overall brand experience and promote cross-selling or upselling related products. Whether through live chat, email, or phone support, customer support is an often undervalued avenue to connecting with consumers and increasing revenue.
3. Print: While digital channels dominate discussions, traditional print media still holds relevance in the omnichannel landscape. From catalogs and brochures to magazine ads, print materials offer a tangible connection with consumers and can complement online efforts by driving traffic to digital platforms.
4. Brick-and-Mortar: Physical retail stores remain a cornerstone of the shopping experience, providing opportunities for hands-on interaction with products and personalized assistance from knowledgeable staff. Integrating brick-and-mortar locations into the omnichannel strategy enables seamless transitions between online browsing and in-store purchases, creating a cohesive customer journey.
5. Innovative Channels: As technology continues to evolve, new channels emerge, offering unique opportunities for engagement. Voice search, augmented reality, and the metaverse represent cutting-edge avenues through which brands can connect with consumers in innovative ways. Staying abreast of these developments and adapting strategies accordingly is key to staying ahead in the omnichannel game.

The Secret to Omnichannel Success

So the question becomes, if we know what a true omnichannel presence looks like, why aren’t more organizations executing true omnichannel strategies? The hard truth is that most of these organizations don’t have the foundation of reliable product information to support all of these diverse channels and touchpoints. Replicating data for each channel manually is a cumbersome and error-prone process that leads to inconsistencies and inefficiencies, and makes activating products on an array of existing channels, plus those to come, nearly impossible. By centralizing product data management, businesses can ensure that information is accurate, reliable, and up-to-date across all channels. This foundational approach streamlines operations, minimizes errors, and facilitates seamless integration with existing and future channels.  Whether it’s updating inventory levels, pricing, or product descriptions, changes made in the centralized repository are reflected instantaneously across all touchpoints. To truly harness the power of omnichannel, businesses must expand their perspective beyond eCommerce and embrace a holistic approach to customer engagement.  Investing in a robust Product Information Management (PIM) solution lays the groundwork for success, empowering businesses to deliver consistent, personalized, and seamless experiences across all touchpoints. In doing so, they not only attract and retain customers but also drive sustainable growth in an increasingly competitive marketplace in true omnichannel spirit. Are you interested in learning more about creating omnichannel bliss for your organization? Register for the premiere PX conference Unlock 2024 to hear real-life PX and eCommerce experts dive into their success strategies and omnichannel tips and tricks.