Retailers must continually implement new technologies designed to provide the best experience for both shoppers and company employees if they wish to stay on top of the game, says a IDC Retail Insights.
The Global market intelligence firm released its Top 10 Decision Imperatives for 2015 and beyond, earlier this month. Each imperative includes four parts and correspond with predictions for the several years as outlined by Greg Girard, Program Director at IDC Retail Insights.
Imperatives include:
- A continued shift toward "third platform" technologies - IT platforms build on mobile devices, cloud services and social networks.
- Investments in 'omnichannel' integration technologies - omnichannel shoppers are expected to spend 30% more than the single-channel shopper.
- Improved ROI on loyalty promotions due to the unification of multiple sales channels.
- Increasing mobile payment initiatives to enhance existing ecommerce, loyalty and store MPOS investments.
- On-demand socially networked delivery services will perform 90% of all intra-day direct-to-conumer deliveries.
The firm left retailers with a guidance summary to take into business model preparations for the coming years:
- Invest in customer-centric information;
- Equip associates with training and tools that facilitate differentiating experience;
- Look for technologies built for visibility, speed, automation and anticipatory needs; and
- Adopt more sustainable infrastructure and applications.
Mars, Incorporated and the Procter & Gamble Company announced today that Mars has agreed to buy the IAMS®, EUKANUBA® and NATURA® brands in major markets for $2.9 billion U.S. This is a strategic move for Mars Petcare to complement its large and growing global Petcare business.
"We view the addition of the IAMS®, EUKANUBA® and NATURA® brands as exceptionally strategic," said Mars Petcare Global President, Todd Lachman. "This acquisition is a perfect fit with our Mars Petcare vision of making A BETTER WORLD FOR PETS™. The deal reinforces our leadership in pet nutrition and veterinary science, attracts world class talent and grows our world leading portfolio."
The geographic regions included in the acquisition, which account for approximately 80% of P&G Pet Care's global sales, include North America, Latin America and other selected countries excluding most European markets. P&G said it is working on alternate plans to sell its Pet Care business in European Union countries.
"Exiting Pet Care is an important step in our strategy to focus P&G's portfolio on the core businesses where we can create the most value for consumers and shareowners," said P&G Chairman, President and CEO, A.G. Lafley. "The transaction creates value for P&G share owners, and we are confident that the business will thrive at Mars, a leading company in pet care."
The company is expected to complete the transaction in the second half of 2014, subject to regulatory approvals.
Mars Petcare is one of the world's leading pet food and veterinary care providers and employs more than 35,000 associates across 50 countries. Upon completion of the transaction, IAMS®, EUKANUBA® and NATURA® brands will join Mars Petcare's billion dollar stable mates PEDIGREE®, WHISKAS®, BANFIELD® and ROYAL CANIN®.
For further company and financial impact related information, READ THE NEW RELEASE.
South Korea reported a 20.9% increase on pet spending in August 2013 over the same month last year. Data collected from the Credit Finance Association showed spending at pet shops and veterinary clinics amassed an ₩83.1 billion ($77.7 million US) purchase totals.
The demand for pet-related insurance programs also gathered ground this year, implying the growing presence of pet-related instruments in the country's financial sector. Two reporting insurance companies announced policy increases of more than 400 subscribers in the past year.
Market watchers said the rising amount of pet-related transactions with plastic cards came as more cardholders adopted companion animals amid the increasing number of one-member households in South Korea.
