To quote pretty much everyone working in online retail, pretty much every online retail blog, and to be honest even previous articles written by yours truly:
“The world of ecommerce is constantly changing and expanding.”
Groundbreaking stuff, I know. Although in-person shopping seems to have more-or-less recovered since the time of certain global events that shall remain nameless, online shopping is still just as popular as ever, and continues to grow year-on-year. Basically, it would appear that consumers are choosing to make ever-increasing amounts of purchases both on and offline.
Even in the event that your customers ultimately make a purchase in a brick-and-mortar store, there’s a good chance that they’ll have come into contact with your product via a different channel beforehand. 73% of consumers make purchases through multiple channels, so a combination of physical stores, webshops, social media, and third-party marketplaces. This is probably why retailers making strategic use of multiple sales channels see a 179% increase in sales on average.
So to cut a long preamble short, no matter what your retail business is, ecommerce is going to have a part to play—I mean, it’s predicted to hit 8.1 trillion USD in sales in 2026. There are a whole lot of complications involved too though, and a massive one is simply finding a way to manage your products and their data in an efficient way.
That’s where ecommerce product management comes into play—it’s about guiding the entire lifecycle of a product, from conception to discontinuation. This practice has the noble goal of making sure your customers’ needs are met as well as possible… and generating more revenue as a result, naturally.
Efficient ecommerce product management involves collaboration between pretty much all the product-related teams in your organization—so everyone from design and engineering to marketing and sales, right through to post-purchase customer support. All these teams have to work together if they want to effectively develop, introduce, improve, and promote products, and ecommerce product management is an essential part of that collaborative process.
While it shares its core principles with general product management, ecommerce product management specifically targets the online shopping experience—hence that all-important ‘e’ in ‘ecommerce’. This means refining every stage of the customer's online journey, from product search and discovery to the online checkout process (and beyond). Given today's high consumer expectations for a seamless, personalized online shopping experience and super-prompt customer support, effective ecommerce product management is crucial for brands if they want to meet these demands and cultivate a loyal customer base.
What’s more, the rapidly changing nature of the ecommerce sector (which I believe I may have mentioned earlier) requires product managers to continuously monitor the competitive landscape, stay up-to-date with the latest trends in ecommerce, and stay on top of changing consumer preferences. This ongoing vigilance and ability to adapt rapidly are key for ecommerce brands looking to maintain a competitive edge (so, you know, all of them).
Now, let's get into the nuts and bolts of ecommerce product management. There are various different practices and tasks that fall under this umbrella—here are four of the most important ones:
This is where the rubber meets the road. Making sure that product listings are detailed, accurate, and up-to-date is a top priority—after all, this is the information that customers use to make their purchasing decisions. It's not just about having the right specs and pictures, though, it's also about using those stats and digital assets to craft an engaging narrative that resonates with your customers and compels them to hit that 'Buy' button.
Staying clued in on market trends, understanding consumer behavior, and keeping an eye on what the competitors are up to isn’t just a nice-to-have—it's essential. This intel informs your product strategy and positioning, so you can make sure your products aren’t just meeting the market standards but setting them.
Like I said earlier, product management is not a solo act—it requires harmonious collaboration with teams across the organization. Marketing, sales, customer service, and supply chain all play a crucial role in your product's journey. Effective ecommerce product management means making the strategy for each product cohesive from conception to delivery, and keeping every team member on the same page.
Another key responsibility is monitoring the product lifecycle to make sure every customer touchpoint is nothing short of excellent—after all, in the world of ecommerce, your product's quality and the customer's experience with it can make or break your brand's reputation. Regular checks and balances to maintain consistency and quality are, therefore, non-negotiable.
Ecommerce product management is fundamental throughout the entire product lifecycle, so now let’s have a look at that lifecycle in more detail. Just like life in general, the lifecycle of an ecommerce product can be viewed as a journey with several distinct stages, each requiring specific strategies and actions.
So between all the different responsibilities and looking after all the different stages of a product’s lifecycle, it kinda sounds like ecommerce product management is a lot of work, right? Right. But luckily, there’s software to help, like Product Information Management or PIM software.
Tools like this provide a centralized system where you can manage and optimize all your product data and content across multiple channels and platforms. It's essentially the command center for your product information, providing consistency, accuracy, and accessibility—here's how it can revolutionize your ecommerce product management:
In the dynamic, ever-evolving, fast-paced, constantly-changing (okay, I’ll stop) world of ecommerce, product management is not just about managing products, it's about managing experiences, expectations, and engagements. That might sound like just a string of buzzwords, but there is actually a valid point in there—namely that ecommerce product management is a lot more than just basic admin and organizing your data. When done well, the key practices of managing product information, conducting market analysis, fostering cross-functional collaboration, and maintaining quality assurance are what will give your business the solid foundation it needs to not just survive, but come out on top in the end.
Not to sound like a broken record, but when you’re trying to manage ecommerce products effectively, Product Information Management software really does make all the difference. It’s a strategic asset that lets you navigate the challenges of ecommerce product management with precision and agility. By centralizing data, enhancing customer experiences, and enabling efficient operations, PIM isn’t just supporting ecommerce product management—it's redefining it.
Don’t just take my word for it though—check out the free ebook just down below! It’s got a lot more information about how businesses using PIM are seeing remarkable improvements across the board. 👀