IBM Buys Retail Forecasting And Merchandising Software Company

IBM has made a major purchase today in the commerce and retail world—DemandTec, a retail marketing and merchandising software company. IBM is acquiring DemandTec (which listed on the Nasdaq) in an all cash transaction at a price of $13.20 per share, or approximately $440 million.

DemandTec provides retailers and e-commerce companies with tools to transact, interact, and collaborate on core merchandising and marketing activities. DemandTec’s cloud-based analytics software allows businesses to examine different customer buying scenarios, both online and in-store, so retailers can spot trends and shopper insights to make better price, promotion, and assortment decisions that increase revenue and profitability.

For example, retailers can predict how consumers will respond to a price change before making the change. Or a merchant and supplier can work together to understand how one shopper segment differs from another to create a targeted merchandise plan.

DemandTec’s use of cloud-based price, promotion and other merchandising and marketing analytics helps companies better define the best price points and product mix based on customer buying trends. Essentially, DemandTec uses data analysis and forecasting to make the retail world smarter.

DemandTec customers include Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., The Home Depot, Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, Target, Walmart, and WH Smith. DemandTec also has a portfolio of 31 patents in the areas of pricing, response analysis, and promotion analysis.

For IBM, the acquisition is all about its smarter commerce initiative. IBM estimates the market opportunity for Smarter Commerce at $20 billion in software alone.

IBM’s recent acquisitions include Algorithmics, and Tririga.

Spring Singapore unites local retail brands to launch ‘Get Singapore’

Singapore – Spring Singapore has launched ‘Get Singapore’ – a collective brand that will act as a focused marketing platform to showcase well-designed and high-quality Singapore brands both locally and abroad.

It is a joint initiative of Spring Singapore and the local retail industry, supported by the Singapore Tourism Board, and has been subscribed by 37 brands comprising of large and mid-sized retailers.

Get Singapore offers the participating brands a strategic and unified platform to showcase and market their brands and merchandise both here and overseas. A series of events and activities targeting consumers and companies will be held in Singapore, encompassing mall activities as well as joint initiatives with partners such as payment system vendors, mall owners and industry associations.

The launch of the Get Singapore website will also include a special section on corporate gifts for organisations; leaflets will be distributed at the Changi Airport visitor centres, while an advertising campaign will soon roll out as well as Get Singapore visual merchandising across all participating outlets.

A promotion will run at VivoCity from 29 May to 1 June, followed by another at Centrepoint from 14-19 July.

According to Kim Faulkner, acting CEO of Get Singapore, marketing activities overseas are planned for the near future – as the group sets out to change the international perception of Singapore brands.

“Collectively, Get Singapore will promote Singapore as a place where good design and innovative retail ideas flourish. In fact, several of the participating brands have taken their concepts abroad and have already built a strong regional and international customer base,’ Faulkner said.

Source: marketing-interactive.com

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