GS1 US has expanded its product identification offering for small and micro businesses to release a single GS1 US Global Trade Item Number.
FREMONT, CA: GS1 US has expanded its product identification offering for small and micro businesses with the release of a single GS1 US Global Trade Item Number (GTIN). Ideal for businesses rolling out a new product, the new single identifier will offer a low-cost option to uniquely identify products and optimize the process for getting items ready for sale throughout retail and e-commerce channels.
A GTIN is the product identifier encoded into a U.P.C. barcode that is extensively accepted by retail systems. With a one-time cost of $30, a business can generate a single GTIN, manage related product data, and share the data with trading partners using GS1 US Data Hub. Additionally, a firm that licenses an individual GTIN will be included automatically in the GS1 Global Registry, a database that several retailers and online marketplaces leverage to verify product identification and confirm product authenticity.
The single GTIN offering was tailored to support the demands of U.S.-based small businesses that are increasingly utilizing e-commerce to sell their products as consumer shopping activity swiftly shifts online. According to a recent study, American businesses sold more than 3.4 billion products through the online marketplace in the last year, up from 2.7 billion the past year. Additional research proves the importance of having U.P.C.s and GTINs in online product listings.
Since the onset of the COVID-19 pandemic, there is an uptick in the number of small businesses needing to identify their products to sell online. GS1 US wants to support these small brands on their journey and offer them an authentic GTIN that will be accepted by retailers and online marketplaces globally and make it seamless for consumers to identify and buy their products.
Since demands can vary by retailer, small businesses must consult seller guidelines to understand which GS1 identification standards are required to help electronic data exchange and shipping. To aid small businesses in making informed product identification decisions, GS1 US has developed an estimator tool and other resources to help their growth.