Launched in 2015, the award winning monthly Builders Merchant Building Index (BMBI) report is the only reliable measure of repair, maintenance & improvement (RMI) activity in the UK. Filling an important gap, it can be widely used in construction, and by economists, Government, national media, commentators and influencers outside the industry.
ECI Software Solutions Comment: Q3 2024
The success of any e-commerce strategy hinges on the foundation of accurate, detailed, and standardised product data. For retailers like Kingfisher, which aims to derive 30% of its revenue from online sales, this principle is evident. With 93% of online orders reportedly being picked from stores, customers are increasingly leveraging digital platforms to conduct product research and finalise their purchasing decisions at their own pace. Trade customers increasingly expect a service level on par with the one they experience as retail consumers while the seamless transition from online browsing to in-store fulfilment not only enhances customer satisfaction but also reduces the burden on store staff.
High-quality product data ensures an enriched shopping experience. Detailed descriptions, high-resolution images, technical specifications, and compatibility information allow customers to make informed decisions with confidence, leading directly to higher conversions. Moreover, standardised product data enhances search engine rankings, driving visibility and traffic. According to industry insights, quality product data can directly contribute to increased sales, reduced return rates, and better customer retention. (Creating a Product Data Strategy White Paper.)
Online catalogues must accurately represent the inventory available for collection or delivery. This is where perfect product data acts as the bridge between online research and physical fulfilment, ensuring operational efficiency and a superior customer experience.
The drive for standardised product data across the construction and building materials sector represents a collective effort to meet these demands. The Builders Merchants Federation (BMF) recently unveiled version 1.1 of its Product Data Template, a significant step toward creating a unified framework for manufacturers and suppliers. This initiative aims to streamline product information, making it easier for merchants, specifiers, and end-users to access and interpret data uniformly.
Data standardisation is about creating a “single source of truth” that benefits all stakeholders. The BMF template supports consistency across product categories and suppliers, ensuring that merchants can provide accurate, accessible, and actionable information to their customers. This not only aligns with evolving eCommerce trends but also reinforces the industry’s commitment to efficiency and innovation.
As the construction and building materials sector continues to evolve, the shared responsibility of manufacturers, merchants, and industry bodies to align on data standards will become increasingly critical.