Product Matching is the heart of accurate Competitive Pricing data. The main challenge faced by Competitive Pricing Data providers has been finding a basis for product matching. Due to non-existent or low-quality product data matching in retail, many Product intelligence tools in the market fail to give accurate results. Product Identifiers define the product you are selling which is important to improve the product matching quality.
The alternative solution is to find better criteria to determine high-quality product matching. Common product attributes such as Titles, Images, Prices, Features, or Descriptions are important to product visibility. But they are less reliable for product matching as it may differ among sellers. Product matching using these attributes can be time-consuming and may decrease the overall productivity of pricing analysts, advertisers, merchandising managers, and consultants who use this data.
So, what are the key attributes of Product Matching?
Unique Product Identifiers (UPIs), MPN, and Brand Names are the basic and accurate attributes for high-quality product matching. Global Trade Item Numbers (GTINs) or Universal Product Code (UPC) is the most common form of UPI and are identical for a product across sellers and marketplaces. However, MPNs and Brands are not to be ignored as MPN are unique numbers assigned by Manufacturers for a product.
MPN and Brands are not to be ignored as MPN are unique numbers assigned by Manufacturers for a product.
About unique product identifiers, Google Merchant mentions – “Unique product identifiers define the product you’re selling in the global marketplace. They uniquely distinguish the products you are selling and help match search queries with your offers. Unique product identifiers are assigned to each product by the manufacturer, so if you sell the same product as another retailer, the UPIs will be identical”.
Also, Google Merchant Center requires any two of the three attributes (MPN, Brand, and GTIN) to process the product data feed. This means these attributes are key to any Product Feed Processing Technology.
Take a moment to read the following product titles from four different sellers –
1. LAT 3588 – Ladies’ Combed Ringspun Jersey Long-Sleeve T-Shirt – Navy – XL
2. LAT 3588 Women’s Ringspun T-Shirt – Navy – XL
3. Bodek And Rhodes 62567316 3588 La T Ladies Combed Ring-Spun Jersey Long-Sleeve T
4. LAT 3588 Women’s Ringspun Long-Sleeve T-Shirt – Navy – XL
What if we told you that these four products are the same? At first glance, it does not appear so, and is very difficult to see that these products are the same. This example shows how product attributes such as Titles, Images, Features, etc. differ from seller to seller and is an unreliable source for product matching.
The UPC for the product is 052987516043, which is identical across all four sellers. This is a high-quality basis for product matching. Another noticeable factor in the titles is the number 3588 which is a common MPN. So, unique product identifiers are a way of matching.
Use Of Unique Product Identifiers In Product
Platforms such as Google and Amazon are enforcing sellers to provide unique identifiers for their products. To read more about Unique Product Identifiers like GTIN and UPC.
Global competition is on the rise and more sellers are selling across international marketplaces with the purpose of global brand outreach, visibility, appeal, and increased profit margins.
Fortunately, with Unique Product Identifiers, GrowByData can seamlessly identify top competitors, and top-performing products, and formulate pricing strategies to give customers an edge with accurate SKU level Pricing on a global scale across marketplaces in North America (US, Canada, Mexico), UK, Japan, Europe, and other geographies.
Contact us to learn more about Product Intelligence to schedule a demo.
