Artificial Intelligence

The physical and virtual retail worlds continue to converge thanks to innovative technology, especially as consumers rapidly adopt digital solutions and apply them to their retailing experiences.

“Consumer-driven solutions are what keep customers at the epicenter of the shopping experience, and that’s what retail is all about,” said Sahir Anand, VP and research group director for Aberdeen Group, Boston.

SAN BRUNO, Calif. — Walmart announced that its Vudu entertainment service is now available Xbox 360. Xbox LIVE customers can now shop Vudu’s library using new, interactive features such as voice search, voice control and Kinect gesture commands to rent or own the latest Hollywood hits, TV shows, cinema classics and independent gems in standard or high definition, the company said.

As an incentive to get customers to try Vudu on Xbox, Walmart announced that Vudu is offering a $4.99 credit toward their first rental or purchase. 

ARMONK, N.Y. -- IBM announced a definitive agreement to acquire Emptoris Inc., a leading provider of cloud and on-premise analytics software that brings more intelligence to procurement and supply chain operations with spend, supplier and contract management for “smarter commerce.” Financial terms were not disclosed.

Wal-Mart Stores' Mexican subsidiary, Walmex, is now part of the Mexican Stock Exchange's newly created Sustainable Index, the company reported. 

By Kenneth Gruskin, kgruskin@gruskingroup.com

Today, fickle and demanding consumers can access virtually anything they want as a result of technology such as smartphones, tablets, and computers. This anytime, anywhere access coupled with what can be referred to as the four ‘C’s’ — convergence, convenience, connection, and cost — are having a dramatic impact on retailers. 

Let’s face it – the Internet has made comparing prices before you buy a no-brainer. Recent surveys show that consumers are more cost conscious than ever before, which means they will accept nothing less than the lowest price. Increased competition and mounting expense pressures have prompted retailers to turn over every rock in an effort to control costs. Every area of a retailer’s business is now under intense scrutiny and divisions previously thought of as “expense” centers, are being required to either generate revenue or be eliminated.

San Mateo, Calif. -- IBM and DemandTec announced Thursday that the two companies have entered into a definitive merger agreement for IBM to acquire DemandTec in a deal worth approximately $440 million.

IBM said the acquisition of DemandTec will extend its Smarter Commerce initiative by adding cloud-based price, promotion and other merchandising and marketing analytics to help companies better define the best price points and product mix based on customer buying trends.

ARMONK, N.Y. and SAN MATEO, Calif. — IBM announced that it intends to acquire DemandTec for $13.20 per share, or at a net price of approximately $440 million, after adjusting for cash.