Product Relationships

Definition

Product relationships refer to the connections and associations between products, such as upsells, cross-sells, and substitutes. Product relationships are used to enhance the customer experience, increase sales, and improve profitability. Upsells are additional products or services that are offered to a customer after they have made a purchase, while cross-sells are products or services that are recommended based on the customer's current purchase. Substitutes are alternative products that can be offered to a customer when a product is out of stock or unavailable. In a PIM context, product relationships are managed as part of the product information model, enabling merchandisers to create and manage product relationships across multiple channels and platforms.

Why It's Important for E-commerce

Product relationships are crucial for e-commerce success as they enable merchants to enhance the customer experience, increase sales, and improve profitability. Upsells and cross-sells can help merchants increase average order value, while substitutes can improve customer satisfaction and reduce abandoned carts. Effective product relationship management also enables merchants to create personalized shopping experiences, offer targeted recommendations, and improve search results. Product relationships also play a role in SEO, as they can help merchants create relevant and interconnected product pages that improve search engine rankings.

Examples

• Upselling a warranty plan with a new laptop purchase
• Cross-selling a printer with a new laptop purchase
• Offering a substitute product when a product is out of stock
• Creating product bundles based on customer behavior
• Recommending related products based on Browse history

How WISEPIM Helps

• **Upsell Management:** Create and manage upsell relationships between products.
• **Cross-Sell Management:** Recommend related products based on customer behavior.
• **Substitute Management:** Offer alternative products when items are unavailable.
• **Product Bundling:** Create bundles based on customer behavior and preferences.
• **Personalized Recommendations:** Offer tailored product suggestions to individual customers.

Related Terms

Also Known As