Abstract:Product offers on e-commerce websites often consist of a textual product title and a textual product description. In order to provide features such as faceted product filtering or content-based product recommendation, the websites need to extract attribute-value pairs from the unstructured product descriptions. This paper explores the potential of using large language models (LLMs), such as OpenAI's GPT-3.5 and GPT-4, to extract and normalize attribute values from product titles and product descriptions. For our experiments, we introduce the WDC Product Attribute-Value Extraction (WDC PAVE) dataset. WDC PAVE consists of product offers from 87 websites that provide schema$.$org annotations. The offers belong to five different categories, each featuring a specific set of attributes. The dataset provides manually verified attribute-value pairs in two forms: (i) directly extracted values and (ii) normalized attribute values. The normalization of the attribute values requires systems to perform the following types of operations: name expansion, generalization, unit of measurement normalization, and string wrangling. Our experiments demonstrate that GPT-4 outperforms PLM-based extraction methods by 10%, achieving an F1-Score of 91%. For the extraction and normalization of product attribute values, GPT-4 achieves a similar performance to the extraction scenario, while being particularly strong at string wrangling and name expansion.