A Retail Velocity Blog
Askuity acquired by The Home Depot and will no longer support Lowe's, Menards, and Walmart
In December 2018, The Home Depot (THD) acquired Askuity. THD will be using Askuity's "Retail Intelligence Platform" to allow THD vendors access to THD's POS and inventory data. Since THD now owns them, Askuity will no longer support other retailers, such as, Lowe's, Menards, and Walmart, etc..
Therefore, Askuity's former customers will need to find another POS Data collection and analysis software solution to handle POS data from retailers like Walmart, Lowe's Home Improvement, Menards, Target, Meijer, etc.
The Home Depot purchased Askuity from Dunnhumby in December, 2018
Understanding Demand Signal Repositories in the Retail Consumer Goods Industry
The promise of big data in the consumer products industry has filled a thousand lakes. In “Why the promise of big data hasn’t delivered yet," Rosemary Barnett wrote “The basic premise of the industry’s offering is this: Hidden in that huge mass of enterprise data are latent patterns. If only you could interpret your data properly, like an explorer deciphering an ancient scroll, you would be able to unearth these precious business secrets. Specialist analytic software tools are needed to crack the code. The big, diverse, disparate, messy data go into these tools, and actionable insights come out.”
Retail suppliers are not only exposed to the risk of fines associated with a tightened delivery window, but also need to be aware of the increase in manufacturer inventory carrying costs (ICC) to support these requirements. With a two day reduction in the delivery window, suppliers are now forced to absorb the buffer costs for inventory. Even early deliveries are fined because retailers, such as Walmart and Kroger, understandably, refuse to receive the products early which would start the payables clock ticking and also increase their ICC.
Let the Cloud Games Begin!
Without question, Amazon still convincingly dominates the market for cloud computing. Gartner expects the cloud hosting market to reach $89B by 2021, up from $35B today. Amazon is leading today with “Others” a close second, but growing quickly are Microsoft, Google and Alibaba.
"We keep moving forward, opening new doors, and doing new things, because we’re curious and curiosity keeps leading us down new paths."
— Walt Disney
At Retail Velocity, we haven’t built a theme park, we can’t draw a cartoon duck without looking goofy, and we don’t wear mouse ears around the office. But we still do share something big in common with Walt Disney.
This spring at the Consumer Goods Technology Summit in Chicago, we heard that word – curiosity – uttered several times by featured speakers during their messages to the audience. In turn, that piqued ours since at Retail Velocity our mission is to provide CPG suppliers with the means to follow their own curiosity. Because, much like Walt, we strongly believe that for our clients to make leaps forward, open new doors and try new things in the retail industry to generate business growth, it’s their curiosity that will light the way.