In retail today, research shows deeper engagement is key to digital transformation as PetMeds teams up with Vetster. Plus, grocery delivery is shifting from pandemic-fueled luxury to mass-market option, Hasbro will focus on rebounding from tumultuous times, and digital consumers want digital incentives when they shop. by retail.
Study of 11 nations: Deeper engagement is key to scaling digital transformation
“Benchmarking The World’s Digital Transformation, The ConnectedEconomy™ Index Q1 2022” by PYMNTS, created in collaboration with Stripe, studied consumer engagement across 40 key activities and the 10 categories we call “pillars of the connected economy”. Looking at data from over 15,100 respondents in 11 countries gathered between January 13 and February 16, we conclude that although these nations generate 50% of the world’s gross domestic product (GDP) and represent a bloc of 700 million consumers with smartphones and web access, their economies are still in the early stages of digital transformation.
PetMeds partners with Vetter on pet telehealth platform
Online health company PetMed Express, or PetMeds as it is more commonly known, announced a collaboration and investment in pet telehealth platform and care marketplace Vetster, giving more than 2 million PetMeds pet owners 24-hour access to virtual pet care and medications. PetMeds is now the exclusive e-commerce provider of Vetster medications, and Vetster is the exclusive provider of telehealth services for PetMeds customers.
Grocery delivery is evolving from luxury service to mass market option
For much of the pandemic, consumers with higher disposable income shelled out for the grocery delivery service, while those with tighter budgets continued to patronize physical stores. Now, as online grocery stores look to their post-pandemic future, many are trying to expand their audience to include those in all income brackets. Instacart, for example, announced two moves over the past week to bring its offerings to a wider audience. The online grocery market will expand its partnership with discount grocer Grocery Outlet and partner with Wegmans Food Markets to accept Electronic Benefits Transfer (EBT) and Supplemental Nutrition Assistance Program (SNAP) payments.
Hasbro’s new CEO says the company will focus on ‘fewer big opportunities’
The continued popularity of Hasbro’s tabletop games since the start of the pandemic, alongside the steady growth of its digital game franchise and new TV and film partnerships, marked the ongoing turnaround of the nation’s largest toymaker in terms of sales and market value. CEO Chris Cocks is not only trying to reverse a crisis that has seen Hasbro shares fall more than 15% so far this year (compared to a 7% drop for the S&P 500 and a 6% rise by smaller rival Mattel), the maker of Play Dough and My Little Pony are also embroiled in a proxy battle that seeks to shake up the company’s board and expand its digital operations.
Digital consumers demand digital incentives from retailers
Amid rising inflation, new PYMNTS research has shown the growing importance for retailers to do more to attract and retain increasingly budget-conscious consumers by enticing them to come in and keep coming back. Retailers who might be unsure of the importance discounts, loyalty and rewards play in consumers’ decision-making process need only look at what their competitors are offering, according to new findings from the latest edition. from The Expanding Payments Choice Playbook, a collaboration between PYMNTS and Onbe.