NASDAQ OMX

Nearly 80 Percent of Merchants Report Their Product Content Exchange System Cannot Keep Up With Enhanced Consumer Demand for Transparency

Del

1WorldSync study finds merchants and suppliers aren't prepared to meet the demands of today's evolving cross-channel commerce landscape

LAWRENCEVILLE, N.J., May 16, 2017 (GLOBE NEWSWIRE) -- While the majority of the industry seems to agree that multi-channel commerce is the future, many companies report they still do not have the proper infrastructure in place to handle evolving consumer demands. Unfortunately, siloed on-premise systems are preventing merchants and suppliers from meeting the increased need for product transparency and industry compliance. In Charting Course for Global Commerce, a recent study by 1WorldSync, 78 percent of merchants report their product content exchange system cannot keep up with enhanced consumer demands for transparency.

"Ever-changing compliance and regulatory standards are a major challenge for merchants and suppliers looking to modernize their multi-channel commerce capabilities, said Dan Wilkinson, Chief Commercial Officer of 1WorldSync. "Manufacturers face a growing list of regulations, such as SmartLabel(TM) for consumer goods, Unique Device Identification (UDI) for medical devices and Classification, Labeling and Packaging (CLP) for hazardous chemicals in the European Union. In tandem with high demand for transparency, suppliers and merchants are left scrambling to curate and syndicate trusted product content that drives revenue."

To further understand the specific pain points plaguing organizations in omnichannel commerce, 1WorldSync, the leading provider of product content solutions, surveyed 400 merchants and suppliers from Europe and the U.S. with more than $500 million in annual revenue. The study found that merchants and suppliers have made significant improvements to their cross-channel strategies, but still aren't able to keep up with changing consumer demands.

Merchants Struggle to Provide Trusted, Robust Product Content
In today's omnichannel world, the pressure is on for retailers to provide trusted product content for customers. However, key findings show that merchants struggle to seamlessly exchange data with suppliers and often don't have internal buy-in on the value of cross-channel commerce investments:

  • Merchants' struggle to provide robust product content: Three in four merchants struggle to provide consumers with compelling, engaging product descriptions and images (such as 360-degree view and video) sourced directly from supplier partner(s).
  • Current systems prevent merchants from streamlining product content across channels: Just one in five (20 percent) report they can easily aggregate and distribute complete, consistent and trusted product information across all channels, including mobile, social, web and in store; leaving the remaining 80 percent with a tremendous gap.
  • Merchants experience internal discord on the value of cross-channel investments: More than half (53 percent) report a knowledge gap internally when it comes to the value of cross-channel commerce capabilities, such as consistent product information across channels or flexible shipping such as "buy online, pickup in store."

Suppliers Face Global Compliance Challenges
To meet expanding consumer expectations for product transparency and a growing list of industry compliance rules, suppliers need the proper infrastructure to manage consistent, authentic and trusted product information across retail partners and channels. The study found that suppliers have made significant investments in these capabilities, but challenges associated with regulatory compliance in global commerce are a drain on revenue and resources. Other challenges include:

  • Data exists in siloes: Sixty-four percent of suppliers say their organization's product information system does not enable sales, supply chain, and IT teams to set up and exchange quality product content with trading partners through a single platform.
  • Suppliers aren't prepared to support compliance around the world: Two in five suppliers (41 percent) struggle to keep up with different regulatory standards across borders.
  • Global suppliers would rather pay fines than update systems to meet regulatory standards: Forty-one percent report it is more effective to pay penalties for noncompliance than invest in product information system updates that are compliant with new and changing regulations.

"Now is the time for suppliers to integrate cloud-based solutions that can foster end-to-end transparency," Wilkinson furthered. "This will not only drive customer loyalty and ensure regulatory compliance, but also better prepare suppliers to be successful in the evolving ecommerce landscape."

For more information on 1WorldSync's SmartLabel(TM) solutions click here. For more information on 1WorldSync's UDI solutions click here.

About 1WorldSync 
1WorldSync(TM) is the leading provider of product content solutions, enabling more than 25,000 global companies in over 60 countries to share authentic, trusted content with customers and consumers, empowering intelligent choices for purchases, wellness, and lifestyle decisions. Through its technology platform and expert services, 1WorldSync provides solutions that meet the diverse needs of the industry. 1WorldSync is the only product content network provider and GDSN Data Pool to achieve ISO Certification 27001. For more information, please visit www.1worldsync.com

Media Contact
Rachel Gulden
312-267-0530
rachel.gulden@walkersands.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: 1WorldSync via Globenewswire

Om NASDAQ OMX

NASDAQ OMX
NASDAQ OMX
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra NASDAQ OMX

Registrer deg med din epostadresse under for å få de nyeste sakene fra NASDAQ OMX på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra NASDAQ OMX

New Era Launches Direct-to-Consumer eCommerce Site Built by EPAM and Powered with SAP Hybris17.10.2017 06:01Pressemelding

New Site Expands Headwear and Apparel Offering with Immersive, Omnichannel Experience NEWTOWN, Pa., Oct.  17, 2017  (GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of digital platform engineering and software development services, and New Era, a global headwear brand rooted in sports, today announced the launch of New Era's first direct-to-consumer website, neweracap.com. New Era's B2B business remains strong, and the company is now putting an emphasis on selling its products directly to customers and expanding its offering into the lifestyle market. The new site offers products for seasoned athletes and sports fans, as well as street and lifestyle consumers. "In an age where businesses cannot tolerate lengthy, scope changing technology projects, EPAM quickly established themselves as the standout partner for us to tackle this ambitious initiative," said Lorenz Gan, Global Vice President, Information Technology, New Era. "Whilst this p

CP Kelco Appoints Didier Viala as New President16.10.2017 15:00Pressemelding

ATLANTA, Oct. 16, 2017 (GLOBE NEWSWIRE) -- CP Kelco, a leading global producer of specialty hydrocolloid solutions, announced today that Didier Viala has been appointed President, effective October 1, 2017. Viala replaces Donald Rubright, who served as CP Kelco President since 2006 and will retire at the end of 2017. Viala has also joined the CP Kelco Board of Directors. "As a market leader supplying high-quality hydrocolloid products for a range of foods and beverages, consumer products and industrial applications, CP Kelco will continue to invest in capacity additions, new product and applications development, strategic raw material sourcing, quality and safety management, and sustainability initiatives to support our customers' innovation efforts and growth strategies," Viala said. Over the course of more than 25 years with CP Kelco and its predecessor companies, Viala held leadership roles across a broad spectrum of critical areas, including innovat

LogicBio Therapeutics to Present Preclinical Data at European Society of Gene & Cell Therapy 25th Anniversary Congress in Berlin16.10.2017 15:00Pressemelding

· Company co-founder Professor Adi Barzel, Ph.D., to present new proof-of-concept efficacy data CAMBRIDGE, Massachusetts, Oct. 16, 2017 (GLOBE NEWSWIRE) -- LogicBio Therapeutics, Inc., a gene-therapy company with a mission to develop cures for early-onset life-threatening diseases, announced today that its company co-founder, Dr. Adi Barzel, will present new data from its genome-editing platform during the 25th Annual European Society of Gene & Cell Therapy (ESGCT) Congress in two presentations this Wednesday in Berlin, Germany. The ESGCT will be held from October 17-20, 2017, at the bcc Berlin. Dr. Barzel will present data in multiple animal models of disease demonstrating the extended therapeutic potential of LogicBio's proprietary GeneRide(TM) platform technology. The GeneRide technology harnesses the natural power of homologous recombination to enable precise, site-specific in vivo genome editing to deliver therapeutic genetic material without th

Concurrent Enters Definitive Agreement to Sell Content Delivery & Storage Business to Vecima Networks for $29 Million16.10.2017 14:00Pressemelding

Proposed Transaction Expected to Result in Debt Free Balance Sheet with $67 Million in Pro Forma Working Capital ATLANTA, Oct. 16, 2017 (GLOBE NEWSWIRE) -- Concurrent Computer Corporation (NASDAQ:CCUR) has entered into a definitive agreement to sell all of the assets of its Content Delivery & Storage Business to Vecima Networks Inc. (TSX:VCM) for a base purchase price of $29 million, subject to adjustment for normalized net working capital.  Headquartered in Victoria, British Columbia, Vecima is a leading designer and manufacturer of innovative network technology solutions. The proposed transaction, which has been approved by the Board of Directors of both companies, is subject to various terms and conditions including stockholder approval from Concurrent. "Vecima believes that the rapid growth in IPTV delivery across both MVPD private CDNs and OTT providers will continue to accelerate.  Concurrent is a recognized leader in storing, protec

Telefonica Deploys ASSIA's GPON Expresse® Solution to optimize Fiber Broadband Performance16.10.2017 14:00Pressemelding

REDWOOD CITY, Calif., Oct. 16, 2017 (GLOBE NEWSWIRE) -- Adaptive Spectrum and Signal Alignment, Inc. (ASSIA®). ASSIA and Telefonica announce widespread deployment of ASSIA's GPON Expresse® software across countries in South America: Argentina, Brazil, Chile, Colombia and Peru. GPON Expresse manages gigabit optical broadband networks with diagnostics for improved network performance and service delivery to Telefonica's fiber-based subscribers. GPON Expresse adds to the suite of ASSIA software products currently deployed at Telefonica in Latin America: DSL Expresse® for diagnostics and optimization of high speed DSL networks, and ClearView® for precise network analysis and recommendations for customer care agents and field technicians.  With the GPON Expresse deployment, Telefonica can now benefit from ClearView support across both copper and fiber networks.  By also incorporating ClearView support for Wi-Fi, operators can have complete end-to-end management across their ac

Fennec Announces Positive Results From Phase 3 SIOPEL 6 Study on PEDMARK(TM) (sodium thiosulfate) Presented at the 49th Congress of the International Society of Pediatric Oncology (SIOP) 2017 Meeting16.10.2017 12:00Pressemelding

Study met primary endpoint (p=0.0033) Significant reduction in cisplatin induced hearing loss without any evidence of tumour protection in patients with Standard Risk Hepatoblastoma (SR-HB) Company plans to pursue regulatory approvals with FDA and EMA RESEARCH TRIANGLE PARK, N.C., Oct. 16, 2017 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX), a specialty pharmaceutical company focused on the development of PEDMARKTM (a unique formulation of sodium thiosulfate (STS)) for the prevention of platinum-induced ototoxicity in pediatric patients, announced today data from its Phase 3 SIOPEL 6 study presented during the late breaker session on Saturday, October 14, 2017 at SIOP 2017 in Washington, DC. Top Line Efficacy Data The SIOPEL 6 study met its primary endpoint.  The study demonstrated that the addition of STS significantly reduces the incidence

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom