Product Lighthouse to launch in Singapore
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Singapore is to become the first offshore market for Australian consumer electronics product information platform Product Lighthouse.
Electronic goods retailers upload product information to the content distribution platform, and its data-validation tools identify and correct data errors and gaps. Retailers can use the system to access product data in the format that suits them. They can receive product submissions, compare specifications and send information about products.
Product Lighthouse replaces the manual system of sharing data via email and spreadsheets, saving time and improving data integrity. Its name is a reference to the importance of helping customers and store staff alike navigate to the right products.
Singapore has been chosen by the company because of the sophistication of its domestic market, the demand for electronic goods and the close level of integration with neighbouring countries.
With the platform’s launch set for the second half of this year, discussions have started with retailers and manufacturers.
Through Product Lighthouse, information entered by vendors is available for retailer websites, catalogues, staff training and in-store tickets.
Research by Product Lighthouse shows that 87 per cent of consumers say they leave a website and go elsewhere when product data is not available, and 64 per cent of consumers say they are less likely to buy from a retailer who does not provide full product information.
“Most of us have visited a store and found staff unable to answer our questions,”
“Most of us have visited a store and found staff unable to answer our questions,” says CEO Chris Grannell. “Even though most consumers buy electronic goods in a physical store, the growing significance of the internet in the product-discovery process means that comprehensive and accurate information online is essential.”
In an audit of product information on retail websites in Singapore, the company found inaccuracies and information gaps. Grannell says there were some “astonishing” inaccuracies such as incorrect specifications, key attributes missing, wrong weights and sizes.
“We even found one website that had a laptop listed with a gender. These things happen because content is transferred from manufacturers to retailers manually. Even with the most conscientious staff, mistakes will happen.
“Added to that, the nature of this industry means that information is not available all at once, which means it is more of a drip feed and less of a single transfer.”
Product Lighthouse is designed with low-fi integration in mind. “Making things easy is part of our DNA,” says Product Lighthouse chief technology officer Gex Cheng, “so we’ve created the ability for retailers to export content in customised spreadsheets that can be loaded into their systems. We’ve also invested heavily in collaboration tools and in the ability to read output from all kinds of manufacturer databases and libraries.
“I always like to remind our users that our approach is to ensure our software fits their workflow rather than changing it.”
Cheng and Grannell will be in Singapore next month, with their product also being showcased at theTech in Asia expo at Suntec Convention Centre.
Questions & Answers
Q.What issues does Product Lighthouse aim to solve for electronic goods retailers?
What issues does Product Lighthouse aim to solve for electronic goods retailers?
The platform replaces manual data sharing, which saves time and improves data integrity. It aims to correct inaccuracies, fill information gaps, and prevent mistakes common in manual content transfer from manufacturers to retailers.
Q.Why did Product Lighthouse choose Singapore for its first international launch?
Why did Product Lighthouse choose Singapore for its first international launch?
Singapore was selected due to its sophisticated domestic market for electronics, high demand for these goods, and its strong integration with neighbouring countries. This makes it an ideal offshore market for the platform.
Q.How will Product Lighthouse integrate with retailers' existing systems?
How will Product Lighthouse integrate with retailers' existing systems?
The system is designed for low-fi integration, allowing retailers to export content in customised spreadsheets for loading into their own systems. It also reads output from various manufacturer databases to fit existing workflows.
Q.What impact does poor product information have on consumer behaviour, according to Product Lighthouse research?
What impact does poor product information have on consumer behaviour, according to Product Lighthouse research?
Research shows 87% of consumers leave a website if product data is unavailable, and 64% are less likely to buy from a retailer without full product information. This highlights the need for comprehensive and accurate data.
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