In today’s world of Pervasive Commerce, the opportunities to sell are infinite. But where do you get accurate and reliable product data?
Becoming a player in online commerce has never been more attainable than it is today; the number of marketplaces, mobile shopping apps, social shopping sites, and flash sale sites popping up daily are proof that if the inventory exists, someone will try to sell it. The number of online stores in the US with at least $1,000 of annual revenue and a growth rate of over 13% per year currently stands at approximately 650,000.
According to eMarketer, ecommerce is the only trillion-dollar industry growing at a double-digit percentage each year. But as we all know, finding a source for accurate and reliable product content can be extremely challenging, particularly if your name is not Amazon.
At Indix, our goal is to create a platform whose value is felt ubiquitously by large retailers, brands, commerce enablers, app developers, or folks selling out of their garage. One of my favorite customer profiles is the creative, opportunistic seller finding a way to leverage inventory that others view as stale, outdated, or uncool. Indix product data can be the difference between survival and failure for these customers. The use case is challenging and typically goes something like this – you have a list of disparate product content. You don’t know where to begin to identify these products let alone find accurate pricing or content required to expedite the sale of this inventory.
We are designing a flexible API endpoint designed to take in incomplete product content, run it thorough the Indix data ingestion pipeline, and produce a set of matched instances that vary in accuracy based on the customer’s preference. The user can specify if they want SEARCH results, which would be similar in precision to searching for something online except the results would be pulled from our product catalog, or MATCHED results, which leverage our algorithms to surface high confidence like products. The user can decide which output is best suited for the job based on the anticipated coverage for the particular input. Search results are a great choice when the input includes products that are unique, out of stock, or discontinued. Matched results must meet our stringent guidelines for classification and matching and therefore carry a higher level of confidence.
Some of our customers are using this service in beta, and we’re looking forward to announcing its general availability soon.
At Indix, we understand that product content comes in all shapes and sizes, which is why we pride ourselves in the ability to offer flexible solutions that meet a wide array of commerce-centric use cases. Watch this space for more!