Retailers today face serious competitive pressures. New retail channels, an abundance of product options, and the emergence of mass customization have led consumers to become more demanding and price sensitive.
Today’s omnichannel retailers struggle to increase assortments, create appropriate product bundles, improve cross-sell and up-sell opportunities, and ensure supply meets demand across every marketplace – all while building trust in an effort to boost loyalty. It’s a tall order, and nearly impossible without a single view of data.
MDM addresses the unique needs of retailers that design, produce, and sell goods as well as those that procure only finished goods. Retailers can get their products to market faster with new product introduction workflows, reference items to improve cross-sell and up- sell conversions, and enable marketplaces.