Product Information Management Trends: What You Need to Know
Staying current on product information management trends is critical for remaining competitive. The product information management market, which was valued at USD 11.81 billion in 2024, is expected to expand to USD 22.98 billion in 2030. As eCommerce grows, effective product data management across channels is critical for improving the consumer experience, increasing sales, and sustaining brand reputation.
In this article, we’ll look at the important product information management trends for 2024, including the advent of AI and machine learning, the transition to cloud-based solutions, and the need of a uniform approach to product information. Understanding the latest trends in information management can enable organizations to improve their eCommerce strategy, streamline processes, and better engage with their customers in an increasingly digital world.
Key Product Information Management Trends for 2024
As we look ahead, numerous PIM trends are poised to transform how firms manage and use product information. Here’s a closer look at the major PIM trends that will influence 2024.
#1. Emergence of AI and Machine Learning in PIM
Artificial intelligence and machine learning are transforming PIM trends by automating manual operations like data entry, error detection, and content improvement. AI-powered PIM systems analyze data patterns, recommend improvements, and create material that adheres to brand rules, improving both operational efficiency and customer experience.
AI’s personalization capabilities allow businesses to tailor product recommendations and customer interactions, boosting satisfaction and conversion rates. PIM ensures consistent product data across all channels, reducing errors and building trust. Together, AI and PIM create a seamless flow of information that supports data-driven decisions, optimizes marketing, and improves responsiveness. Explore the latest AI eCommerce trends to see how AI is transforming the digital world.
With global AI spending projected to exceed USD 301 billion by 2026, integrating AI into PIM is a necessity for businesses aiming to enhance personalization, streamline operations, and stay competitive in the booming PIM industry.
#2. Creating a Seamless And Smooth Product Experience
Today’s customers expect brand consistency across all touchpoints—whether on a mobile app, desktop site, or in-store. Consistent product information is very important for building trust and driving sales. However, maintaining this consistency is often challenging; less than 10% of companies report that their brand presentation is always consistent.
PIM systems play a critical role in ensuring product data remains accurate and uniform across every channel. This not only reduces confusion but significantly enhances brand visibility and customer trust. According to a study, businesses with consistent brand presentation are three to four times more likely to enjoy excellent brand visibility than those with inconsistent branding. Consistent data presentation helps brands avoid the negative impacts of inconsistency, such as market disorientation and reduced customer satisfaction, which affects up to 71% of companies.
By implementing robust PIM solutions, brands can provide a seamless product experience, set themselves apart in a crowded market, and ultimately drive higher engagement and sales.
#3. Intelligent Product Information Management
Intelligent PIM systems enhance product data management through advanced automation, streamlining catalog maintenance, improving data quality, and ensuring compliance across sales channels. Unlike manual methods, PIM allows businesses to manage data up to 6 times faster, correct errors 18 times quicker, and double their time-to-market, significantly boosting operational efficiency.
Seamlessly integrating with ERP and CRM tools, PIM provides a unified source of truth, reducing errors and enhancing decision-making. This results in up to 50% higher online conversions and prevents revenue losses that can reach 25% due to poor data. As the PIM market size grows towards USD 59.25 billion by 2027, these systems are critical for businesses looking to stay agile and competitive in the eCommerce.
#4. Building Omnichannel Presence for Brands
Omnichannel has become a necessity as consumers expect seamless interactions across online, in-store, and mobile channels. During the pandemic, brands like Target and Zara thrived by integrating their physical and digital operations—Target’s digital sales surged 195% in 2020, driven by stores fulfilling over 75% of online orders. Omnichannel shoppers spend significantly more than those using only one channel, proving the value of a unified approach.
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PIM systems facilitate this by managing complex product data and ensuring consistent information across all touchpoints. A strong omnichannel presence enhances customer experience, boosts brand loyalty, and drives higher sales, capturing up to 30% more revenue by meeting today’s consumer expectations. For insights on broader market trends, check out the latest cross-border eCommerce trends.
#5. Further Migration From On-Premise To Cloud Solutions
Cloud-based PIM solutions are increasingly favored for their scalability, flexibility, and security, aligning with broader cloud adoption trends. In 2024, 63% of IT decision-makers reported accelerating their migration to the cloud, and 70% now default to cloud services for new capabilities. The average IT budget is $329 million, with $95 million (29%) allocated to cloud products, reflecting a strong commitment to cloud investments.
Cloud Product Information Management: How to Choose the Right Platform?
In this piece, we will discover what is cloud based product information management and how to choose the right platform for your business.
Despite budget and cost concerns stalling some cloud adoption efforts, 65% of companies plan to increase their cloud spending this year. Cloud PIM allows teams to manage data seamlessly from anywhere, enhancing collaboration and enabling rapid scaling without the upkeep of on-premise systems. For businesses aiming to stay agile and profit from AI, the cloud offers a strategic advantage, making it an important path forward for modern PIM solutions.
#6. Unified PIM: Easy Integration Of PIM To An Existing Enterprise Ecosystem
Integrating a new PIM system with existing enterprise tools used to be a complex, time-consuming process. But today’s PIM solutions are designed to fit seamlessly into any business ecosystem. This unified approach means PIM can connect effortlessly with other critical systems like ERP, CRM, and digital asset management tools.
This easy setup helps maintain a single, accurate source of product data across the organization, reducing errors and enhancing operational efficiency. By consolidating product information management with other business processes, companies can respond faster to market changes, improve internal workflows, and ensure that their product data is always aligned with their overall business strategy.
Impacts of PIM Trends on eCommerce Strategies: PIM Use Cases
The new PIM trends are transforming how businesses handle their eCommerce operations. These changes go beyond just managing data—they directly impact a company’s ability to compete, adapt, and grow in a rapidly shifting market. Below, we explore how these PIM use cases influence eCommerce strategies, with real-world examples of PIM demonstrating their impact.
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Optimizing Product Listings for Better Visibility
PIM systems with AI-driven capabilities optimize product listings by refining titles, descriptions, and keywords, boosting visibility on search engines and marketplaces. For example, Amazon sellers use PIM to manage and enhance thousands of listings, increasing their search rankings and sales. Automation saves time and ensures listings are tailored to meet customer expectations.
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Streamlining Multi-Channel Selling
PIM solutions simplify managing product information across websites, marketplaces, social media, and stores, ensuring consistent data everywhere. A fashion online store, for instance, can use PIM to sync details like sizes, colors, and prices across all platforms, reducing errors and providing a unified brand experience.
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Enhancing Customer Engagement and Retention
Consistent, high-quality product information builds trust and boosts customer engagement. PIM systems enable brands to provide accurate specs, rich media, and updated availability, enhancing the shopping experience. A home appliance brand, for example, uses PIM to manage manuals, videos, and guides, improving customer support and reducing returns.
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Reducing Time-to-Market
PIM systems accelerate time-to-market by automating data management and content syndication. For example, a consumer electronics brand launches products faster across regions by centrally managing data, ensuring compliance and tailored information, allowing them to stay ahead of competitors.
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Improving Inventory Management
Advanced PIM systems improve inventory accuracy by integrating with order management, preventing over- or under-stocking. A global toy manufacturer, for instance, used PIM to synchronize inventory data, enhancing forecasting and reducing lost sales during peak demand, ensuring popular products remain available.
Future Predictions and Market Insights
As eCommerce grows more complex, the demand for efficient PIM solutions continues to surge. The global product information management market forecast is expected to reach USD 23.8 billion in 2027, is projected to grow at a 14.3% annual rate over the next five years. This growth is driven by the need for seamless data management, improved customer experiences, and enhanced multichannel consistency.
PIM systems are no longer optional; they are must-haves for businesses aiming to keep up with rapid digital transformation. Companies are increasingly moving from outdated, on-premise solutions to more flexible, cloud-based PIM platforms that offer scalability, real-time updates, and better security. The combination of AI and machine learning further enhances PIM capabilities, automating tasks and optimizing data management. For more on strategic shifts in eCommerce, read about the latest B2B eCommerce trends.
Gepard PIM is leading the charge in this developing market. Known for its user-friendly interface, powerful plug-ins, and AI-driven data enrichment, Gepard PIM helps businesses manage complex product information with ease. It’s designed to support seamless omnichannel distribution, ensuring accurate and consistent product data across all touchpoints.
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Final Takeaway
PIM trends continue to expand, bringing new tools that help businesses stay competitive in the fast-paced world of eCommerce. From AI-driven insights to cloud-based flexibility, these trends are transforming how companies manage product data, optimize listings, and engage customers across all channels.
Gepard PIM is designed to help you benefit from these advancements effortlessly. With its intuitive features for data enrichment, seamless integration, and omnichannel support, Gepard PIM ensures your product information is always accurate, consistent, and ready to drive sales.
Ready to experience the benefits of advanced PIM for your business? Contact us for a personalized demo and see how Gepard PIM can elevate your product information management to the next level.