The emerging trends in e-commerce have driven increased demand for product information management (PIM) solutions capable of seamlessly synchronizing with product syndication deployments and delivering true value. At the same time, the skyrocketing adoption of retail automation is also contributing to the need for PIM solutions that can unify all product-related information and enable faster and more impactful strategy development and decision-making. In the current market, where businesses are constantly battling to attract and retain consumers, PIM solutions are accelerating internal processes to enhance data management and help employees focus on critical tasks that can boost revenue generation. In 2022, the PIM market was valued at $12.2 billion, which is predicted to grow and reach $23.8 billion by 2027. This expected increase in popularity is indirectly influencing brick-and-mortar retail outlets to adopt PIM software to expand their digital footprint and capitalize on the vast customer datasets to develop robust strategies that can grow their revenue.
Moving forward, the advancements and growing demand for PIM solutions are poised to continue increasing as businesses seek newer ways to quickly and optimally bring their products to market. From a technology standpoint, future PIM systems will have even more dedicated integrations with next-gen AI bots, facilitating the collection of customer preference data from the very start of every engagement with a retailer. Similarly, PIM offerings are also connecting with supply and value chains to establish an end-to-end infrastructure that connects all the in-house, market, and customer-facing facets of a product’s journey.
This edition of Retail Tech Insights presents some of the most promising product information management solution providers. The issue also showcases innovative solutions from leading companies like Data Council, which provides a PIM solution that combines enterprise-grade data management capabilities with powerful commerce solutions. Also featured is Zobrist Software Group, a full-service web agency focused on delivering enterprise and mid-market eCommerce websites backed by the IBM WebSph
