In today's rapidly evolving digital landscape, businesses must embrace multichannel ecommerce management to reach a broader audience and higher revenue. According to forecasts, the proportion of ecommerce sales from multichannel sources is expected to increase to approximately 46% by 2023, representing a rise from 40.3% in 2019.

However, managing product catalogs, inventory, and price changes across multiple channels can be daunting, leading to inefficiencies and errors.

Fortunately, Product Information Management (PIM) systems have revolutionized how businesses manage their multichannel inventory management, product catalogs, and price changes. With a modern PIM, a retail store can uplift its product experience while ensuring a new customer becomes a repeat customer.

In this blog, we will focus on the importance of multichannel ecommerce management and explore how Netcore Unbxd PIM’s intelligent end-to-end automation can facilitate product catalog distribution, inventory, and price changes.

Let’s dive right in!

What is multichannel ecommerce?

Multichannel ecommerce involves the practice of selling products through multiple online sales channels, such as your ecommerce website, mobile apps, IoT, social media platforms, and online marketplaces like Amazon, eBay, and other online retailers.

The key focus of multichannel ecommerce is to expand sales reach, uplift product availability across multiple platforms, and draw more potential customers to the sales ambit. By leveraging multiple sales channels, you can diversify your revenue streams, reach a wider audience, and increase your sales volume.

Why should you consider a multichannel ecommerce strategy?

There are several benefits of multichannel ecommerce, including the following:

1. Increased reach

Sell on multiple platforms to reach more customers, grow your brand, and simplify shopping for buyers.

2. Diversified revenue streams

Don't rely on just one channel; spread your bets to keep revenue flowing when one channel slows down.

3. Improved customer experience

Providing multiple purchase options makes shopping more convenient. Shoppers often explore various platforms, reviews, and search engines before buying. Being present everywhere boosts first-time buyer confidence and drives sales and loyalty.

4. Skyrocket sales

More channels mean more sales, with retailers on multiple platforms making 190% more revenue than those who sell solely on one platform.

5. Better data insights

Multichannel ecommerce provides valuable data on channel performance, hot products, and shopper demographics.

6. Competitive advantage

Being on multiple channels can give you a competitive advantage over businesses only selling through one channel.

Multichannel ecommerce: 5 key challenges to be resolved

While there are many benefits to multichannel ecommerce, some challenges come with managing multiple sales channels.

Let’s look at a few of the most common challenges:

1. Complex and time-consuming management

Managing multiple sales channels can be quite intricate and time-consuming. Ensuring that your product details, pricing, and inventory levels remain consistent across all platforms can be a daunting task when done manually.

2. Inventory management

The art of smoothly handling multi-channel inventory can be a tough nut to crack. For small and medium-sized retailers, this poses a significant challenge. Without the ability to track inventory seamlessly across various channels, you run the risk of overstocking, understocking, and losing potential sales.

3. Order fulfillment

Each sales channel may come with its own set of requirements for shipping, packaging, and returns, adding complexity and cost to order fulfillment.

4. Integration

Getting your ecommerce platform to play nicely with multiple sales channels can be a real puzzle. Each channel might have different technical requirements and APIs, making integration a bit of a headache.

5. Costs

Expanding into multiple channels can be expensive. You may need to pay fees or commissions to each channel, invest in additional marketing and advertising, and hire additional staff to manage the workload.

Plus, there's the challenge of picking the right channel – choosing the wrong one can strain your ad budget and lead to ineffective marketing campaigns.

So, how do you overcome these hurdles? It all starts with a robust multichannel ecommerce strategy, the smart use of automation tools wherever possible, and harnessing technology to streamline your processes and boost efficiency.

Netcore Unbxd PIM: AI-enabled multichannel ecommerce software

Netcore Unbxd PIM is an AI-powered powerful automation tool that provides end-to-end automation for multichannel ecommerce management.

From receiving orders from multiple channels to updating the quantity to relevant channels, this multi-channel listing software streamlines the entire process, eliminating manual errors and inefficiencies.

How Netcore Unbxd PIM assists businesses with multichannel ecommerce management:

As a multichannel listing software, Here are some key ways in which Netcore Unbxd PIM helps businesses manage multichannel e-commerce more effectively:

1. One-stop product catalog control

With Netcore Unbxd PIM, you can call the shots from a single platform. It's like having your own e-commerce command center, ensuring your product info remains rock-solid across all channels. No more worries about inconsistencies or hiccups!

2. Automated inventory and price updates

Unbxd PIM takes the entire inventory and price update process and automates it. It will keep all your channel info on point, with no manual fuss required. That means more time and resources are saved for other important tasks.

3. Integration with multiple channels

Unbxd PIM integrates smoothly with sales channels like Amazon, Walmart, eBay, Shopify, Magento, and more. This integration allows businesses to manage their entire multichannel e-commerce operations from a single platform.

4. Streamlined order management

Unbxd PIM automates the order management process, ensuring that orders from multiple channels are processed quickly and effortlessly. In addition, it eliminates manual errors and ensures that customers receive their orders promptly.

5. Data analytics and advanced insights

Unbxd PIM provides businesses with real-time data analytics and insights. This feature enables companies to make informed decisions based on data-driven insights, leading to better business outcomes.

To sum it up

Unbxd PIM is a powerful tool that streamlines multichannel ecommerce management.

With centralized product catalog management, automated inventory and price updates, integration with multiple channels, streamlined order management, and data analytics and insights, businesses can manage their multichannel ecommerce operations more efficiently.

The result is increased revenue and customer satisfaction, which are integral to establishing your brand in a highly competitive marketplace.

If you want to take your multichannel ecommerce operations to the next level, Unbxd PIM is the way to go.

Schedule a free demo today!