Substitute products

Definition

Substitute products are goods or services that can be used interchangeably to satisfy the same consumer need or desire. From an e-commerce perspective, these are items a customer might consider purchasing if their initial choice is out of stock, too expensive, or if they are simply exploring alternatives. These products typically share similar attributes, price points, or intended uses, making them viable replacements for one another.

Why It's Important for E-commerce

For e-commerce businesses, effectively managing and presenting substitute products is a key strategy to prevent lost sales and enhance the customer experience. When a customer lands on a product page for an item that is out of stock, offering relevant substitutes can guide them towards an alternative purchase instead of leaving your site to find it elsewhere. This directly impacts conversion rates and customer retention.

Examples

• Offering a generic brand of pain reliever when the preferred brand-name option is out of stock.
• Suggesting an Android smartphone when a customer is browsing an unavailable iPhone model.
• Presenting a different brand of coffee beans with a similar roast profile when the customer's usual choice is temporarily unavailable.
• Displaying plant-based milk alternatives like oat or almond milk when dairy milk is out of stock.
• Recommending a similar model of running shoes from a different brand if the desired pair is sold out.

How WISEPIM Helps

• Centralized Substitute Data Management: WISEPIM allows you to define and manage complex relationships between primary products and their substitutes, ensuring all relevant product data, including descriptions, images, and specifications, is accurately linked and easily accessible.
• Automated Product Suggestions: Leverage WISEPIM to automatically suggest appropriate substitute products on your e-commerce platform when an item is out of stock or nearing end-of-life, preventing lost sales and improving the customer journey.
• Enhanced Product Discovery and SEO: By linking substitute products, WISEPIM helps enrich your product catalog, providing more internal linking opportunities and relevant content, which can improve search engine visibility for related products.
• Consistent Multi-channel Presentation: Ensure that substitute product information is consistently displayed across all sales channels, from your webshop to marketplaces, maintaining brand coherence and customer trust.

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