Ever wondered why you abandon your shopping cart online? The answer might surprise you. According to Tarun Chandrasekhar, President and Chief Product Officer at Syndigo, "Customers don't abandon products, they abandon poor experiences." This simple yet profound insight cuts to the heart of today's commerce challenges.
The most jaw-dropping revelation from our conversation? Amazon generated more revenue from retail media and product sponsorships last year than from their entire AWS business. Let that sink in—a company whose cloud services dominate the market is making even more money from how products appear and are promoted on their platform. This seismic shift is reshaping the entire retail landscape, with Walmart and others racing to develop similar capabilities.
We dive deep into the $15 billion Product Experience Management (PXM) industry that connects the dots between multiple information layers in commerce. From supply chain to ERP systems to product data to customer experience, these previously siloed systems are now being integrated by digitally mature organizations seeking competitive advantage. For brands, success hinges on speed-to-market across multiple channels. For retailers, data accuracy prevents costly recalls and builds customer trust.
The COVID era dramatically changed the game—companies that once employed 15-20 people to manage product information now operate with teams of just four, while simultaneously juggling expanded responsibilities like managing media influencers and social platform syndication. This new reality demands smarter, more efficient systems.
As shopping behavior evolves from traditional search to AI-guided discovery, brands and retailers must adapt. The holy grail? Connecting rich product content with customer intelligence to create personalized experiences. It's a transformative time for commerce—exciting yet nerve-wracking, as Tarun describes it: "a 3D jigsaw puzzle we're building as we're free-falling from the sky."
Ready to rethink how your business approaches product data? Listen now to understand why product information has become your brand's first handshake with customers, and how getting it right might be the most important investment you make this year.