NEW YORK, Sept. 11, 2019 /PRNewswire/ -- The technological advancements ongoing within the consumer products industry are now allowing companies to engage with consumers in new and innovative ways. Consumer product (CPs) companies are committed to providing customers with current market trends, understanding their preferences, and deepening connections with customers, according to Deloitte. With the coming of the digital era and the increasing competition, CPs are forced to adapt and implement cutting-edge innovations. As such, it is imperative for CPs to continually adopt new technology in order to stay ahead of the competition. Deloitte now expects CPs to develop their own proprietary technology, to accentuate the growth of direct-to-consumer brands, emergence of pop-up stores, and online retailers. Moreover, Deloitte also projects CPs to invest in smart packaging as well as innovative trends such as neuro-nutrition and biohacking. Furthermore, the use of technology also makes on-demand access to information possible, allowing companies to employ customer habits in product segments. Additionally, CPs are also implementing fulfillment services and smart manufacturing techniques in efforts to broaden their consumer base while maximizing operational efficiency. Consequently, the combination of these methodical practices will increase consumer engagement and satisfaction. In 2019, the U.S. consumer goods market is estimated to be valued at USD 635 Billion, according to SelectUSA, citing data by Statista. It is also likely that, in 2019, many CPs will advance beyond their current technological standpoint as evidence of new technology has already permeated throughout the industry. Edison Nation, Inc. (NASDAQ: EDNT), The Procter & Gamble Company (NYSE: PG), XPO Logistics, Inc. (NYSE: XPO), Church & Dwight Co., Inc. (NYSE: CHD), Colgate-Palmolive Company (NYSE: CL)
The combination of fulfillment services and smart manufacturing is helping to improve many companies' supply capabilities while also minimizing their resource usage. In particular, many small-to-medium-sized enterprises are leveraging both. Specifically, many enterprises are establishing fulfillment centers as well as strong regional footprints in order to further their consumer penetration. Fulfillment services handle inventory operations such as management, order picking, and shipping operations. And these services are now heavily demanded because of the emergence of e-commerce businesses. According to Orbis Research, the global service fulfillment service is expected to reach USD 8.08 Billion by 2025, registering a CAGR of 10.2% from 2019 to 2025. However, some corporations are able to handle the entire supply chain by themselves. For instance, international-scale e-commerce businesses manufacture their own products such as electronics and home appliances. International operators are then able to ship their products globally because they have fulfillment centers across various regions. However, operating at the large of a scale can often increase production expenses. As such, the growing emphasis on increasing production efficiency and gaining visibility across the value chain is further promoting the smart manufacturing market. And according to Grand View Research, the smart manufacturing market is projected to reach USD 395.24 Billion by 2025, while exhibiting a CAGR of 10.7%. Now, companies that independently operate both fulfillment centers and manufacture their products eliminate the need for third-party services, thus allowing them to deliver products at a much faster rate. "Yes, fast does beat big. Reacting more quickly to the needs of the consumer will ultimately drive consumer satisfaction, bring untapped revenue to the bottom line, and open up unrealized opportunities for innovation. But to make that happen, consumer products companies need simplification, standardization, and automation – not one or two of these elements, but all three," said Paul Larson, Industry Principal for Consumer Products at SAP. "Let's face it: Scale is useful if you're a big organization with a diverse range of brands, but it can get you only so far. Consumer products companies need to start acting fast and driving the agility to connect with your entire ecosystem to boost revenue and customer satisfaction."
Edison Nation, Inc. (NASDAQ: EDNT) just announced breaking news this morning that, "Edison Nation, Inc., a multifaceted ecosystem which fosters innovation and drives IP, media and consumer products, today announced that they are joining Bahamas' disaster relief efforts by partnering with Juiced2Go to donate emergency mobile phone batteries.
Juiced2Go (http://www.juiced2go.com/) develops disposable emergency mobile phone batteries, designed to connect to both iPhones and Android devices to generate up to 8 hours of talk time when other forms of power are unavailable. Edison Nation is partnering with them to send 5,000 batteries to families in the Bahamas currently suffering from power outages.
"We want families to feel safe and connected as much as possible as a result of this overwhelming event and rebuilding process," said Sidney Richlin, Ronny Mirel, and Dianne Magsari the Co-Founders of Juiced2Go.
Furthermore; Edison Nation is also donating products from their Cloud B brand to "The Ranfurly Home for Children", to offer a small sentiment of joy to kids in the area during this time of crisis.
Chris Ferguson, CEO of Edison Nation states, "The Edison Nation family is saddened over the damage caused by Hurricane Dorian in the Bahamas and this donation shows our support to those affected."
About Edison Nation, Inc. - Edison Nation, Inc. (EDNT), is a multifaceted ecosystem which fosters innovation and drives IP, media and consumer products. Edison offers innovation sourcing, product design, sales, manufacturing and fulfillment services. Edison Nation's model is to source innovative ideas to launch internally or license to brand partners. Edison Nation hopes to leverage its television property, "Everyday Edisons," to become the recognized leader in the innovator community. For more information, please visit www.edisonnation.com."
The Procter & Gamble Company (NYSE: PG) serves consumers around the world with one of the strongest portfolios of trusted, quality, and leadership brands. Recently, the Procter & Gamble Company announced the successful completion of its acquisition of the Consumer Health business of Merck KGaA, Darmstadt, Germany. This move improves P&G's OTC geographic scale, brand portfolio and category footprint in the vast majority of the world's top 15 OTC markets. With this acquisition, former Merck KGaA, Darmstadt, Germany, Consumer Health President & Chief Executive Officer, Uta Kemmerich-Keil, will be joining P&G as leader of P&G Personal Healthcare International, an organization encompassing the newly combined consumer (or OTC) health care businesses in Europe, Latin America, and Asia/IMEA (India, Middle East and Africa). "Today marks the beginning of an exciting new era for P&G Personal Health Care, as we now move forward to realize the great potential of our combined businesses," said Tom Finn, President, P&G Global Personal Health Care. "In bringing Merck KGaA, Darmstadt, Germany, Consumer Health into P&G, we have created a new health care organization that is well-positioned to enable consumers to live longer, healthier and more vibrant lives as well as drive further sales and profit growth for P&G. We are pleased to welcome the strong leadership of Uta Kemmerich-Keil into the P&G family, along with the thousands of talented people of Merck KGaA, Darmstadt, Germany, Consumer Health who are transferring to P&G."
XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. XPO Logistics, Inc. had recently been awarded a multi-year contract renewal by Arco, the U.K.'s largest supplier of safety equipment, workwear and safety services. XPO provides Arco with an integrated, digitally managed transport solution for less-than-truckload (LTL) distribution in the U.K. The shared network uses XPO technology to manage direct order entry, track freight consignments and deploy resources. 4G scanners at the Arco site improve trunk utilisation before onward shipping to 11 LTL sites. Dan Myers, Managing Director, transport – UK and Ireland, XPO Logistics, said, "Our team is excited to provide Arco with a transformative solution to support their U.K. expansion. Our investments in dynamic, multichannel solutions continue to deliver value for our customers."
Church & Dwight Co., Inc. (NYSE: CHD), a USD 3.5 Billion Consumer Packaged Goods company, was founded in 1846 and is headquartered in Ewing, New Jersey. Church & Dwight Co., Inc. recently signed a definitive agreement with Ideavillage Products Corporation to acquire the FLAWLESS™ and FINISHING TOUCH™ brands of hair removal products, the market leader in women's electric hair removal products, for approximately USD 475 Million in cash plus an additional earn-out payment of up to a maximum of USD 425 Million, in cash, based on a twelve-month net sales target ending no later than December 31st, 2021. The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in the second quarter of 2019. "Women today are more focused on hair removal from their bodies. FLAWLESS provides simple, fast, dermatologist-approved solutions for face, brows and legs. FLAWLESS is a beloved brand by look-conscious consumers who want to be "selfie-ready" at any moment," said Matthew T. Farrell, Church & Dwight Chief Executive Officer. "FLAWLESS represents a powerful addition to our specialty haircare portfolio which includes BATISTE dry shampoo, VIVISCAL hair thinning supplements, and TOPPIK hair fibers."
Colgate-Palmolive Company (NYSE: CL) is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care and Pet Nutrition. As part of its strategy to focus on its higher-margin oral care, personal care and pet nutrition businesses, and expanding its portfolio in premium skin care, Colgate-Palmolive Company recently announced that it had agreed to acquire the Laboratoires Filorga Cosmétiques (Filorga) Skin Care Business for an equity purchase price of EUR 1.49 Billion (approximately USD 1.69 Billion). Filorga is a premium anti-aging skin care brand focused primarily on facial care. Originally founded in France in 1978, the brand is now sold in over 60 countries with its largest markets being France, Italy, Spain and Greater China. The Filorga brand leverages a multi-channel distribution strategy across pharmacy, online, specialty stores and travel retail. Noel Wallace, Colgate's President and Chief Executive Officer commented, "Filorga is a strong, premium-priced brand with distinctive positioning that fits well within our long-term personal care growth strategy. We are excited that this acquisition will add a high-growth, profitable, global skin care asset to the Colgate portfolio with the opportunity to drive continued growth through expanded distribution and awareness. This acquisition also provides Colgate entry into the fast-growing and sizeable travel retail channel, particularly in Asia."
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