The COVID-19 pandemic has changed the apparel industry in numerous ways. With many of these changes likely to outlast the virus, smart retailers will adjust their strategies now to be prepared. Looking forward, our base case is cautiously optimistic, with the virus more effectively controlled over the coming year, thanks to a strong public-health response.
The benefits of suppliers using an online catalogue are numerous. Its digital form allows users to perform regular updates quickly and easily at zero cost, ensuring the accuracy of product data when it is presented to a wide client base. Furthermore, the changes made are immediately available for buyers to see. In an increasingly competitive business environment, the ability to provide updated product information quickly can lead to additional market opportunities and put your sales people one step ahead of the competition.
Rapid search is one of the significant advantages that online catalogues deliver for businesses. E-catalogues allow buyers to perform more efficient inquiries by providing accessing to the online catalogue from anywhere Internet access is available. Once connected, buyers can consult the latest data from suppliers and search for specific product information such as descriptions, prices and product images.
Suppliers are able to share their latest product data with as many retailers as they choose. An electronic catalogue gives them more flexibility to add or remove products, correct mistakes and update features, all without reprinting.
Unlike conventional catalogues, e-catalogues facilitate a direct relationship between the company and its clients. This in turn enables faster decision-making and improved responsiveness to market demands. E-catalogues allow small and medium-sized companies to benefit from all the advantages traditionally reserved for larger companies with a worldwide client base and distribution.
In today's global economy, more and more supplier companies are required to become EDI compliant and work with an electronic catalogue if they want to do business with larger organizations, including major retailers such as Neiman Marcus, Nordstrom and Dillard’s, as well as manufacturers and government agencies.
The process of becoming EDI compliant may seem arduous at first, but once implemented EDI communication delivers impressive results. Performing transactions via EDI saves time and money for all trading partners, leading to reduced business cycle times and improved control over supply chain for retailers and suppliers alike.
E-Catalogues offer many other advantages to their users, including:
- Increased customer satisfaction and more accurate orders;
- Greater consistency and accuracy in purchasing processes;
- Reduced internal administrative costs - paper, printing, and distribution;
- Reduced costs for associated data processing operations.