Everyone needs better product data

Businesses today must keep pace with demand from consumers, trading partners and regulators to deliver more and better product data than ever before.

At the same time, fragmentation of global commerce has created a complex business environment where every stakeholder across every market requires different datasets to meet their own unique needs, resulting in high data management costs and poor overall data quality.

Content

Brand owners Retailers Consumers Industry leaders

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Brand owners

Brand owners must create retailer-specific data formats and often face difficulty expanding into new territories and channels due to disparate data needs. With each new format, brands risk losing control of data quality, leading to lost sales and reduced brand trust.

>1,000 new SKUs per year
700 attributes managed today per SKU
500 formats to support retail partners globally

Retailers

Retailers must expend valuable time verifying foundational data and soliciting supplementary data to augment missing or inaccurate information, and often face difficulty synchronising their online and offline channels due to different data formats and requirements.

10 to 15 interactions with suppliers to launch each SKU
15,000 issues with inaccurate product data per year on average
5-10 hours to train brand partners on data requirements for product

Omni-channel consumers

In the physical world, consumers can pick a product up off the shelf, evaluate it first-hand and read reliable information on its packaging. In the digital world, however, consumers must rely on product information that is often incomplete or contradictory, leading to confusion, frustration, high return rates and ultimately lost sales.

89% of shoppers use a mobile device while shopping
54% of shoppers research potential purchases at home
10-30% product return rates, depending on sector

Industry leaders commit to developing a solution

Over 30 companies globally are partnering with GS1 to develop a Global Data Model, organise a series of validating pilots and develop a business case.

To learn more about industry support, you can check out our Global Data Model video.