Digital Wave Technology's AI-Powered PXM Solution Drives Efficiency and Omnichannel Sales for Global Retailers
Digital Wave Technology
Digital Wave's secure Enterprise AI-powered solutions revolutionize the product journey, seamlessly integrating item creation, product experience management, planning, promotions, lifecycle price optimization and more. With automation and generative AI at every step, our solutions centralize, organize, enrich, merchandise, and publish product content effortlessly and effectively. The result? Higher conversions, accelerated speed-to-market, heightened efficiency, expanded channel distribution, reduced product returns, and an unparalleled customer experience.
Global Retailer of Iconic Brands
A $7 billion global retailer of iconic brands faced challenges improving product management practices and consumer experiences. It needed a solution to manage product information across its brands, guarantee consistent product information across all channels, and deliver exceptional product experiences. Digital Wave Technology's Product Experience Management (PXM) solution provides structure around product management and web publishing. While supporting interchangeability between brands, the solution offers a unique workflow for each brand by user role, attributes, hierarchies, and business rules. Each brand resides on the same instance of the single, unified product platform, improving executive leadership visibility and informed decision-making.
The implementation of Digital Wave’s PXM produced exceptional results:
- Revenue Growth: Within 12 months, the customer tripled digital revenue facilitated, in part, by Digital Wave PXM.
- Unified Product Platform: The PXM solution powers 18 global websites across 3 brands.
- Enhanced Website Performance: Improved speed (.4 second improvement for PDP and PLP load) and SEO, leading to an enhanced customer experience and higher conversion rates.
- Improved Data Quality and Attribution: Enabled better data attribution and quality control, reducing returns and improving customer satisfaction.
- Operational Efficiency: Reduced data entry by 25%. Automating processes led to redeploying team members and capital to other revenue-generating tasks.
Leading Fashion & Sporting Goods Retailer
A leading fashion and sporting goods retailer was eager to efficiently scale its assortment and streamline product information management (PIM) processes while complying with manufacturer restrictions.
Digital Wave Technology implemented its Product Experience Management (PXM) solution to establish a single source of truth, enabling seamless collaboration internally and with suppliers, delivering impressive results:
- Expanded Assortment: In months, the customer increased the number of drop ship SKUs by 50%, capitalizing on new market opportunities.
- Improved Efficiency: By automating and centralizing data management processes, the retailer reallocated 25% of its enrichment and Web Operations staff to other revenue-generating tasks, increasing productivity and cost savings.
- Enhanced Inventory Visibility: The PXM solution reduced the number of items with inventory but not available online by 80%, improving customer experience, increasing overall sales, and inventory turnover.
- Improved Conversions: Streamlined information management processes, accurate availability status, and enriched product content contributed to a 25% increase in conversions and a 25% reduction in cart abandonment.
Through the adoption of Digital Wave’s PXM solution, the customer successfully tackled its challenges and achieved significant business outcomes. The streamlined product onboarding, expanded assortment, centralized data management, and improved operational efficiency paved the way for growth and enhanced customer experiences.
Luxury Department Store
A luxury department store faced challenges related to product information management, complex workflows, and the need for agility adapting to evolving requirements. The company needed a single source of truth for all data; fully automated workflows to streamline product onboarding, data enrichment, and data quality processes; and the flexibility to change data models and attributes rapidly to support their dynamic business needs.
To address these challenges, Digital Wave Technology implemented its PXM solution to replace multiple legacy systems and become the centralized platform for all data delivering significant outcomes:
- Data Integration and Distribution: Powering data to 19 different systems, ensuring data consistency and operational efficiency across the enterprise.
- Increased Product Attributes: Digital Wave's PXM allowed for expanded product attribute information to empower store associates, resulting in improved customer interactions and increased sales effectiveness.
- Error Reduction: By centralizing and automating data processes, customer-facing errors were significantly reduced, and the overall customer experience was improved.
- Reduced Customer Service Calls: The rich attribute data provided by Digital Wave's PXM solution reduced the number of customer service calls.
Digital Wave's PXM solution successfully addressed the retailer’s challenges, delivered transformative outcomes, and empowered it to achieve operational excellence, improve customer experiences, and drive business growth.
World’s Largest Travel Luggage Company
The world’s largest travel luggage company faced the challenges of maintaining consistent brand standards while aggressively expanding its global reach. They required an efficient, flexible, and scalable technology infrastructure to support their growth objectives. A traditional product information management (PIM) solution would fall short in providing the necessary infrastructure to efficiently expand their operations globally.
Digital Wave Technology’s Product Experience Management (PXM) solution enabled global brand governance and operating efficiencies with localized product content optimized for each geographic region, including multi-lingual and multi-currency; with workflow to streamline collaboration across international teams. The Digital Wave PXM implementation yielded significant outcomes:
- Expanded Global Footprint: Established a simplified process for the retailer to successfully scale its global presence to 43 marketplaces and quickly expand revenue opportunities into additional sales channels.
- Improved Product Information Quality: Digital Wave's PXM solution enhanced product information management quality across 12+ regions, 15+ languages, and multiple channels, ensuring accurate and consistent product data and improving the product experience.
- Enhanced Content Creation Efficiency: Streamlined content creation processes, improving efficiency and consistency through automation, reducing time-to-market across regions.
Digital Wave's PXM solution helped the company improve brand governance, increase operational efficiencies, and enhance customer experiences globally.
Luxury Distributor for Fashion & Accessory Brands
A luxury distributor for fashion and accessory brands faced challenges effectively managing their diverse luxury brands, optimizing operational efficiency, and delivering exceptional customer experiences.
Digital Wave Technology's AI-powered PXM centralizes and streamlines the retailer’s brand operations, enabling seamless collaboration and data management across its portfolio. Leveraging advanced AI capabilities, the solution automates product onboarding, writes compelling copy in the brand voice, enriches product attributes, drives product discoverability, and provides actionable reports.
Digital Wave’s AI capabilities provided value immediately following a rapid implementation, revealing items with missing data, products with inventory that weren’t available online, costly discrepancies, and more. The company has experienced improved operational efficiency, reduced time-to-market for new products, and enhanced brand consistency across channels at a higher quality level than ever before. This resulted in increased customer engagement, higher conversion rates, and improved customer loyalty.
This successful partnership with Digital Wave Technology has positioned the distributor to drive significant growth, expand its market presence, and deliver exceptional product experiences to its discerning luxury customers. The company’s experience serves as a testament to the transformative power of AI-powered product experience management in the retail industry.