Headlines

Limited Product Content Costs Retailers Sales

Stores lose consumers by providing too little info about their wares, survey finds

Published

1 week ago

June 13, 2024

VMSD Staff

Limited Product Content Costs Retailers Sales — Today’s consumers expect information at their fingertips when making buying decisions. PHOTO: ISTOCKPHOTO

Today’s consumers expect information at their fingertips when making buying decisions. PHOTO: ISTOCKPHOTO

Incomplete or inconsistent product content at the shelf or online is costing retailers big bucks, a new survey concludes.

In “The State of Product Content 2024,” commissioned by data management provider Syndigo, 50% of respondents had abandoned a potential purchase online or in-store in the last six months because they couldn’t find sufficient information about the product. Another 35% returned a product because it didn’t meet their expectations based on the content they reviewed before purchase.

“Product content is hugely influential in guiding consumers’ decision-making processes from purchase decisions to building brand loyalty, all underscored by the demand for unparalleled customer experiences,” said Syndigo CEO Simon Angove. “This research shows that businesses around the world can unlock the value of their product data to accelerate sales by delivering richer, more engaging product content.”

For European countries in particular, eco-friendly-related information about products, such as how they impact environmental, social, and governance (ESG) initiatives, ranks high.

The survey gathered responses 6480 consumers (aged 18+) from the U.S. and France, Germany and the U.K.

Click here to register to receive the complete survey.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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