CHICAGO, Jan. 26, 2021 /PRNewswire/ — Salsify, the commerce experience management platform that helps brands win on the digital shelf, and Label Insight, the industry leader in powering product-attribute driven growth across the consumer packaged goods (CPG) ecosystem, today announced a partnership to enable bidirectional data transfer between Label Insight’s product attribute metadata platform and Salsify’s commerce experience management (CommerceXM) solution. This partnership will dramatically improve brands’ ability to create new product data, enrich existing product data and enhance their overall business intelligence to propel e-commerce sales.
This partnership provides CPG brands with the ability to significantly improve their digital shelf experience across their retail networks by generating and optimizing their product content with product attribute metadata to better meet the needs of need-state shoppers. Retailers will also benefit from being able to deliver more personalized shopping experiences.
“The addition of Label Insight product metadata to our comprehensive, integrated suite of CommerceXM capabilities will open new growth trajectories for our customers,” said Ken Cowan, Head of Strategic Development at Salsify. “Whether it’s improving product content at initial set-up or optimizing existing content experiences across the digital shelf, our bidirectional data integration will improve discovery and conversion across retail channels.”
Hundreds of millions of U.S. shoppers search for products online based on attributes such as “Low Sugar”, “Keto Diet” or “Cruelty-free” to meet specific need-states related to health and wellness, allergens, sustainability and more. This large group of shoppers is currently underserved as 84% of brands fail to claim the top three most searched for product attributes for which they qualify. As a result, current retailer systems fail to return 92% of the products in their assortment that qualify for attribute-based searches on their websites.
The root cause of this poor shopper experience is incomplete and inaccurate product data flowing to retailers from CPG brands. CPG brands often struggle with product data consistency and accuracy and must invest in multiple methods of product data maintenance and delivery. In fact, 85% of the world’s largest retailers’ top 2000 suppliers fail to provide high quality product data.
Without a product attribute metadata platform like Label Insight and a commerce experience management platform like Salsify, identifying which products qualify to fulfill which consumer need-states is a manual, time consuming and costly analysis and activation process for CPG brands that varies between retailers.
“E-commerce acceleration combined with the large and growing segment of shoppers searching for products based upon individual need-states has created digital disruption in the CPG industry,” said Todd Morris, CEO of Label Insight. “I am thrilled to be partnering with an industry leader like Salsify, because together we can help brands and retailers grow by removing the barriers to high quality product data and connecting shoppers to the products that meet their health, wellness and lifestyle needs.”
Salsify empowers brand manufacturers to win on the digital shelf by delivering the commerce experiences consumers demand anywhere they choose to shop online. The world’s biggest brands including Mars, L’Oreal, Coca-Cola, Bosch, and GSK use Salsify every day to stand out on the digital shelf. To date, Salsify has raised a total of $198.1 million in funding, led by Warburg Pincus, Venrock, Matrix Partners, Greenspring Associates, Underscore VC, and North Bridge. For more information, please visit salsify.com.
About Label Insight
Label Insight drives growth for CPG brands and grocery retailers through unparalleled product transparency. As the trusted partner of over 300 retail banners, over 30,000 CPG brands, and organizations including the FDA, USDA and American Heart Association, its best-in-class product attribute data and patented data science empower companies to unlock new growth opportunities both online and in store. Label Insight covers more than 99% of all online consumer queries across over 80 percent of U.S. food, pet, and personal care products with a market-leading database of over 200,000 product nutrients, 400,000 product ingredients and 9 million product claims. Label Insight was recently named to the CB Insights 2020 Retail Tech 100, as one of the world’s most innovative B2B retail technology companies, and to the FoodTech 500, the world’s definitive list of entrepreneurial talent at the intersection of food and technology. For more information, visit labelinsight.com.
SOURCE Label Insight