In recent years online shopping has transformed drastically. Whether it’s buying groceries, clothes, electronics, etc. people prefer to do it online. Especially after the hit of the pandemic, when strict lockdown compelled people to turn to online means to shop, eCommerce has become an indispensable part of people’s life. Now when people are accustomed to this habit, it is more important than ever for online retailers to keep their online stores up-to-date and provide a seamless shopping experience to their consumers. In this process, product catalog management plays a vital role.
Ever since taking roots in the early 90s, eCommerce has gone through a sea change as an industry. When Jeff Bezos established in 1995, very few in the retail industry could see the potential of online sales. But the fact is, today the market size of the industry has reached a whopping USD 9.09 trillion and it is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. Marketplaces such as Amazon and eBay see thousands of new merchants emerging every single day. If you want to carve a niche for yourself in this highly lucrative business, you must understand that you are trying your luck in one of the world’s most competitive arenas. Merely setting up an eCommerce store won’t be of any consequence unless you give due importance to all the critical attributes of a successful eCommerce store. Apart from choosing a good selling platform, the single most important factor that can make or break your eCommerce business is eCommerce catalog management.