National Retail Federation (NRF) Retail’s Big Show 2014 Recap
It was a great week for Riversand Technologies in New York at NRF ‘14 “Retails Big Show”. We had partner, prospect and customer meetings throughout the conference, and visitors stopping by our booth to congratulate us on on a great year and to learn more about our Media Asset Management (MAM) Module for MDMCenter.
We were also pleased with the rave reviews (“Intimate”, “Valuable”, “Professional”, “Focused”…) from the retailers who attended our dinner with Peter Sheldon, Principal Analyst of E-Business and Channel Strategy at Forrester Research, who spoke about “Driving Consistency Across Digital Channels and Why PIM is Important.”
In his presentation, Peter highlighted 2013 findings from Forrester Research that support why PIM is now a key area of investment for multi-channel retail organizations:
- This year 52% of all retail sales will either be influenced by, or occur online
- Online research is now ubiquitous across certain merchandise categories
- Quality product information is highly important for online customer acquisition
- Retailers must invest in compelling and diverse product content tactics
- Consumers are now sharing product content across social channels
During his presentation, Peter also shared that retailers are reporting the need for key benefits from PIM including 1) Process & SKU on-boarding time improvements, 2) Increased productivity, 3) Cost reduction, 4) Increased sales, 5) Improved customer and channel partner service and satisfaction, and 6) how retailers can measure the success of a PIM implementation program.
For more details on the presentation, please feel free to contact us.