{"id":8104,"date":"2020-05-06T13:33:38","date_gmt":"2020-05-06T08:03:38","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=8104"},"modified":"2024-01-09T18:16:56","modified_gmt":"2024-01-09T12:46:56","slug":"product-data-retail-pandemic","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/","title":{"rendered":"3 Product Data Problems Retailers Are Facing During The Pandemic"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69faf4a8677ce\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69faf4a8677ce\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/#so-how-do-retailers-get-into-the-same-space-and-provide-a-good-online-experience-that-will-result-in-conversions\" title=\"So how do retailers get into the same space and provide a good online experience that will result in conversions?&nbsp;\">So how do retailers get into the same space and provide a good online experience that will result in conversions?&nbsp;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/#the-product-data-problems-retailers-face-today\" title=\"The Product Data Problems Retailers Face Today\">The Product Data Problems Retailers Face Today<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/#how-ai-can-help-solve-data-problems\" title=\"How AI Can Help Solve Data Problems\">How AI Can Help Solve Data Problems<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/#using-computer-vision-and-deep-learning-models-retailers-can-completely-automate-this-process-%e2%80%94-saving-up-to-30-hours-of-manual-labor-on-an-average-per-person-per-week-and-up-to-90-of-operational-costs\" title=\"Using computer vision and deep learning models, retailers can completely automate this process \u2014 saving up to 30 hours of manual labor on an average, per person, per week and up to 90% of operational costs.&nbsp;\">Using computer vision and deep learning models, retailers can completely automate this process \u2014 saving up to 30 hours of manual labor on an average, per person, per week and up to 90% of operational costs.&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/#to-benefit-from-ai-and-digitize-product-data-processes-learn-more-about-vueais-product-tagging-tool-here\" title=\"To benefit from AI and digitize product data processes, learn more about Vue.ai&#8217;s Product Tagging tool here.\">To benefit from AI and digitize product data processes, learn more about Vue.ai&#8217;s Product Tagging tool here.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/product-data-retail-pandemic\/#related-articles\" title=\"Related articles:\">Related articles:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>The COVID-19 crisis has impacted retail and e-commerce globally with consequences that will drive long term changes. With physical store shutdowns, supply chain disruptions, and consumer behavior shifts all around the world, the very activity of shopping is undergoing a dramatic change. Retailers, consequently, have to radically restructure operating models and more importantly, change how they perceive <strong>product data<\/strong> to offer consumers great shopping experience, especially in these uncertain times.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-instagram wp-block-embed-instagram\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/www.instagram.com\/p\/B_PkIifjAkP\/\n<\/div><\/figure>\n\n\n\n<p>Consumer behavior when it comes to physical stores is changing rapidly \u2014 we&#8217;re already seeing enhanced in-store experiences in effect with brands like <a rel=\"noreferrer noopener\" href=\"https:\/\/jingdaily.com\/sneak-peak-inside-of-skp-and-gentle-monsters-newly-created-mall\/\" target=\"_blank\">Gentle Monster<\/a>, an eyewear brand that has museum-like installations in its London store. As for logistics fulfillment, brands like <a rel=\"noreferrer noopener\" href=\"https:\/\/corporate.bestbuy.com\/heres-how-curbside-pickup-works-at-best-buy-to-get-your-tech-essentials\/\" target=\"_blank\">Best Buy<\/a> in the US have kept their businesses up and running smoothly with contactless curbside pickup. They encourage their shoppers to place purchases through the website or app, post which supplies are delivered to the trunks of their vehicles by Best Buy employees.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/www.forbes.com\/sites\/forbesinsights\/2020\/04\/08\/how-consumers-are-dealing-with-covid-19-economy\/#6aaf2b761226\" target=\"_blank\">Interestingl<\/a><a href=\"https:\/\/www.forbes.com\/sites\/forbesinsights\/2020\/04\/08\/how-consumers-are-dealing-with-covid-19-economy\/#6aaf2b761226\" target=\"_blank\" rel=\"noreferrer noopener\">y, a whopping 79% of consumers agree<\/a> that their shopping behavior has changed due to the pandemic. There\u2019s no mistaking that consumers are now predominantly online. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"so-how-do-retailers-get-into-the-same-space-and-provide-a-good-online-experience-that-will-result-in-conversions\"><\/span>So how do retailers get into the same space and provide a good online experience that will result in conversions?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The answer \u2014 building a robust online retail presence. A key component of building that experience is via <strong>product<em> <\/em>data<\/strong>, and automation and technology will play a pivotal role in making this possible.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-product-data-problems-retailers-face-today\"><\/span>The <strong>Product Data Problems Retailers Face Today<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Retailers have been facing these pain points specific to <strong>product data<\/strong> because of the pandemic:&nbsp;<\/p>\n\n\n\n<ol><li><strong>Long, hands-on processes in onboarding products<\/strong>, has become even harder now, due to budget cuts and teams working remotely<\/li><li><strong>Dealing with large inventory is a problem for marketplaces. <\/strong>Marketplaces require an automated, faster digitizing process to deal with endless inventory.<\/li><li><strong>Being agile and making informed decisions to meet customer demands. <\/strong>Retailers have to make more informed decisions to offer essential items for the current times, to meet the demand of customers.<\/li><\/ol>\n\n\n\n<p>High-quality <strong>product data<\/strong> can solve these problems. Retailers can maximize productivity and efficiency by automating the catalog digitizing and <strong>product data<\/strong> creation processes. This also saves a lot of time and operational costs involved in the process. In fact, a number of leading retailers are already looking at AI as an investment.<\/p>\n\n\n\n<p>AI can not only help brands and retailers transition online rapidly but also become smarter about their assortment mix. The quality of data this technology delivers enables digital teams to extract and analyze metadata to drive insights.&nbsp;<strong>Juniper Research predicts retailers will spend <a href=\"https:\/\/www.juniperresearch.com\/press\/press-releases\/retailer-spending-on-ai-to-grow\">$7.3 billion<\/a> dollars on AI by 2022, compared with the $2 billion dollars spent in 2018.<\/strong><\/p>\n\n\n\n<p>Generally, good quality <strong>product data<\/strong> allows retailers to make better business decisions. It is paramount for data to be streamlined, especially when working with an assortment of data collected from multiple sources. When the underlying metadata is clean, consistent, and enriched with tags, the returns downstream are manifold.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how-ai-can-help-solve-data-problems\"><\/span><strong>How AI Can Help Solve Data Problems<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Most businesses today rely heavily on manual ways of creating product information. The process involves conducting photoshoots, processing these images, and uploading them. These are then <em>manually tagged<\/em> with product attributes, making the whole process extremely long and complex. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"using-computer-vision-and-deep-learning-models-retailers-can-completely-automate-this-process-%e2%80%94-saving-up-to-30-hours-of-manual-labor-on-an-average-per-person-per-week-and-up-to-90-of-operational-costs\"><\/span>Using computer vision and deep learning models, retailers can completely automate this process<strong> \u2014 saving up to 30 hours of manual labor on an average, per person, per week and up to 90% of operational costs.&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"540\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/05\/VRT-Showcase-Tag-1.png\" alt=\"\" class=\"wp-image-8123\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/05\/VRT-Showcase-Tag-1.png 960w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/05\/VRT-Showcase-Tag-1-300x169.png 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/05\/VRT-Showcase-Tag-1-768x432.png 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><figcaption>Tags extracted from a product using Vue.ai&#8217;s Product Tagging tool<\/figcaption><\/figure>\n\n\n\n<ul><li>Vue.ai&#8217;s Product Tagging tool employs data extraction and image recognition systems to generate quality metadata. This can feed into diverse use cases across different functions of an online retail business.<\/li><li>By generating rich product attributes with the help of NLP techniques and Computer Vision-based algorithms, retailers can then fill in the data gaps with data cues from predictions based on historical data. This eventually feeds into the database.<\/li><li>Automated product tagging enables faster item setup. This is how retailers can save up to 30 hours of manual labor on average \/ person \/ week and up to 90% operational costs.&nbsp;<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"to-benefit-from-ai-and-digitize-product-data-processes-learn-more-about-vueais-product-tagging-tool-here\"><\/span>To benefit from AI and digitize product data processes, <a href=\"https:\/\/www.vue.ai\/solutions\/automated-product-tagging\/\" target=\"_blank\" rel=\"noreferrer noopener\">learn more about Vue.ai&#8217;s Product Tagging tool here.<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"related-articles\"><\/span>Related articles:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/www.vue.ai\/blog\/trends-and-analysis\/new-fashion-categories-lockdown\/\" target=\"_blank\">Exciting New Categories Emerge During Lockdown<\/a><br><a rel=\"noreferrer noopener\" href=\"https:\/\/www.vue.ai\/blog\/vuecommerce\/personalization-post-covid-retail\/\" target=\"_blank\">How Can Brands With Large Inventory Transition Online Seamlessly<\/a><br><a rel=\"noreferrer noopener\" href=\"https:\/\/www.vue.ai\/blog\/on-model-fashion-imagery\/product-photoshoot-alternative\/\" target=\"_blank\">Everything You Need To Know About On-Model Imagery<\/a><br><a href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/\">7 Use Cases of Artificial Intelligence (AI) in Retail for 2020<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vue.ai\/blog\/vuecommerce\/retail-personalization-in-2021\/\">Retail Personalization<\/a> &#8211; Ultimate Guide<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> The COVID-19 crisis has impacted retail and e-commerce globally with consequences that will drive long term changes. With physical store shutdowns, supply chain disruptions, and consumer behavior shifts all around the world, the very activity of shopping is undergoing a dramatic change. Retailers, consequently, have to radically restructure operating models and more importantly, change how  &#8230;<\/p>\n","protected":false},"author":23,"featured_media":8128,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1162],"tags":[58,646,330,656,655,163,531,206,527,520,657,642],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Product Data Problems Retailers Are Facing During The Pandemic<\/title>\n<meta name=\"description\" content=\"Retailers have to radically digitize operating models and change how they perceive product data to offer consumers a great shopping experience.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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