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Strong growth for Klarna but persistently high credit losses

Strong growth for Klarna but persistently high credit losses

Joakim Gavelin, e-commerce expert at inriver.

The development of e-commerce is going faster than manufacturers have time and digital sales should be taken seriously. This means internally, helping companies manage, refine and track all product data that can be seen in retailers and markets around the world. Now they present the results of a comprehensive survey on consumer behavior online.

– Up to 70% of consumers abandon products due to bad or incorrect information from the retailer. This is a huge challenge for today’s manufacturers, says Joakim Gavelin, e-commerce expert at inriver.

In recent years, e-commerce has proliferated and the digital shelves of online retailers have been flooded with products. It causes some problems. As a consumer, it can be difficult to navigate and find what you want, and as a brand, it is therefore difficult to take a seat and be seen.

At Amazon, for example, we know that almost all sales take place on the first search page, showing only a small portion of the entire search result, says Joakim Gavelin.

How high you rise in search results depends on several factors. It’s partly about complying with existing guidelines regarding content quality, but things like stock status, broken links, or incorrect product scripts also affect the outcome. The challenge for manufacturers is to keep track of all product data that falls on – sometimes thousands – of retailers around the world.

Technology that monitors product data – all the time

The inriver offering covers the entire gamut: from product data collection, refinement and dissemination to all channels via the PIM system, to data monitoring as it is published. Algorithms, mixed mixed images and text, vandalism, negligence – there are many reasons why data is incorrect or disappears online in the worst case.

We’ve built in technology that monitors trading venues and ensures that products are visible and product content is up-to-date – all the time. That content is relevant and ends up on day one correctly is not a guarantee that it will continue to exist as it should. Therefore, you need to keep monitoring your product data over and over again, says Joakim Gavelin.

Incorrect product content is more common than you think

The occurrence of incorrect product data is more common than one would think; According to Inriver’s experience, more than one in five products contains incorrect product content online. At the same time, there is no equal percentage of goods in stock. These numbers create dissatisfaction and frustration for consumers and what happens is that they choose another brand.

Joakim Gavelin’s main tip is to take the digital shelf of products at least as seriously as the ones in the physical store.

The digital shelf is exposed to millions of people around the world, and visibility, availability, and accurate product content is critical to success. These sites live, change, and create new challenges every day – so it’s important to be there in real time, to see what’s working and not about your products so you can tweak them before the sale goes to someone else.

Here you can participate in the entire Inriver survey.

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