Product information management (or PIM, to its friends) is a type of system or software used for dealing with the whole mess of data involved in running an online retail business. More and more ecommerce managers are joining the PIM revolution, which is why the total value of the worldwide PIM market is predicted to hit USD 25 billion sometime in 2026. This is despite the fact that as recently as 2022, that total value was a mere USD 14.11 billion—pocket change, really.
But what does this software actually do with your product information? It’s all very well to say that it manages it, deals with it, sorts it out, but what does that actually mean? Read on to find out, as we delve into the four key functions of a PIM system, and the individual features that can help you achieve them.
If you want to deal with your product information in an efficient way, the first thing you have to do is get it all in one place. Without PIM, a lot of retailers tend to keep their data in a bunch of different spreadsheets, which just isn’t efficient in the long run.
Think of it this way: If your data was an orchestra (and what an orchestra it would be!), it’d be pretty hard to organize a rehearsal with the woodwind section in one room, strings in another, and the percussion section in another building altogether. Typical percussionists, always marching to the beat of their own…
PIM software makes it easy for you to get your data band together, by providing an accessible rehearsal hall (cloud storage) complete with entrances of various sizes (upload methods) with steps and ramps as necessary (features to help), and setting fixed timetables (scheduled updates) so each and every musician (data point) knows when they have to be there. That way, you’ll know where to find your French horns (data), fiddles (other data), and flutists (yet more data) at any given moment.
In other words, a quality PIM system can help you with centralization thanks to:
One of the many, many issues with keeping your data in regular spreadsheets, documents, or (heaven forbid) PDFs, is that there’s no easy way for you to check that everything contained there is correct and complete. A PIM tool should come with a wealth of features to help you spot missing data, and to make sure the data you do have is accurate and up-to-date.
This is a vital factor for your customers. Going back to our data orchestra metaphor, if your musicians’ instruments (data, yet again) are out-of-tune (out-of-date), broken (inaccurate), or simply missing (...missing), your audience isn’t going to enjoy the show, and even if they do make it through one performance (actually buy something), the odds of them returning are pretty slim (say goodbye to return customers). For that reason, you need to spend time getting everything in working order before the curtain goes up (you publish your product listings).
The stats back this up, for the record. If customers spot inaccuracies or gaps in your product descriptions, they’re much less likely to make a purchase—in fact, 98% of shoppers have been put off making a purchase by missing information. If they do buy something but then it doesn’t match the description they’ve read online, the chances of them making a return are pretty high—at least 64% of consumers have returned items for that exact reason. And of course, if they encounter either of these issues, they’re much less likely to come back to your store in the future—87% of shoppers are reluctant to go back to a brand that doesn’t provide them with accurate product descriptions.
Key PIM features that can help get your data concert-ready would be:
Getting your data in one place and checking it’s all there and accurate is a great start. To maximize your sales, though, you need to make sure your product information is in the best possible state for each individual platform, marketplace, or webstore you sell on. This is where optimization comes in.
Think of it as choosing the perfect setlist (version of your data) for each occasion, tailored to the event (sales channel) and the local audience’s tastes (customer profile). Once you know what you’re going to play, you can start rehearsing until every note is crisp, every rhythm is tight, and every musician knows their part perfectly (your data’s being presented in the best way possible).
In the world of PIM, optimization doesn't just mean enhancing your product data to make it more appealing and useful to your customers in general. It’s also about helping with SEO and PLO, as in making sure your products are presented in the most sales-maximizing way possible on each and every sales channel.
The PIM features that can lend you a hand include:
Time to get this show on the road! Having the world’s most amazing product information in your internal system is all well and good, but it’s not going to help you sell anything until you get it out into the wider world. Distribution in PIM terms means getting your refined, optimized product data out to where your customers are.
It's like taking your orchestra on tour (publishing your product listings), getting them booked to play in all the right venues where your audience can see them (sales channels with high visibility). They’ll need different transport (upload methods) to get to different gigs, and if they’re crossing any borders (entering any complicated channels), they’ll need to make sure their passports and any necessary visas are all in order (deal with data entry and upload restrictions).
Back in the world of PIM, this means using the tool to get your product information onto your sales channels as easily as possible. How much of the process you can automate depends on where you’re selling, but a good PIM solution will help get your data where it needs to go, regardless of the terrain.
Key aspects of distribution in a PIM context include:
The same way that a well-rehearsed orchestra can create beautiful music, a PIM system can harmonize all your product data to create a seamless shopping experience. It’s like a rehearsal space, conductor, and road manager all in one—providing a way for you to gather all your product information, fine-tune it to perfection, and then put it on show across the digital world. Encore!
There are loads of different PIM options out there, each with different characteristics, features, and prices. Want to learn more? The Ultimate PIM Buyer’s Guide has everything you need to know, and you can download it for free down below.