Frost & Sullivan: Who’s Benefitting from Retail Product Protection?

– Product protection plans boost revenue and customer loyalty for retailers

MOUNTAIN VIEW, Calif., Aug. 29, 2014 /PRNewswire/ — The adoption of retail product protection plans continues to increase in the United States. Frost & Sullivan estimates the total US retail product protection market size to be approximately $8-10 billion across consumer electronics, home appliances, jewelry, sporting goods, furniture, and other product categories. Strong support of leading retailers, coupled with greater consumer awareness of the need and utility of retail product protection plans, continues to drive demand for retail product protection solutions.

A recent analysis from Frost & Sullivan, Retail Product Protection Plans in the United States: A Market and Competitive Overview, presents an overview of the retail product protection plan market in the United States. The insight analyzes the key elements of advanced retail product protection plans and outlines the benefits for both consumers and retailers. Additionally, Frost & Sullivan evaluates the industry’s most progressive retail product protection products from market leading providers.

For complimentary access to more information on this research, please visit: http://bit.ly/1vSWYMC

“Issues with electronics or appliances requiring repairs or replacement are prevalent in today’s marketplace; our research indicates that roughly 1 in 5 retail customers that purchase an electronics device or a major appliance are likely to have a problem with the product within the first 12 months,” said Brent Iadarola, Frost & Sullivan Research Director. “Protection plans provide a defined path for consumers to resolve their product issues by receiving assistance to repair or replace the covered product.”

Initially positioned as a value-added service (VAS), retail product protection plans have evolved as integral tools for retailers to enhance customer loyalty and generate incremental category sales. Consumers are attracted by the multiple benefits protection plans have to offer such as single source solution, quality care, and protection from unexpected costs. Hence, a well-structured retail product protection plan can help retailers improve customer satisfaction, increase store visits and ultimately revenue.

The emergence of ‘connected’ consumer electronics and appliances has also materialized as an important growth driver for the retail product protection industry. As products become ‘smarter’, post-sales technical support will be crucial to help customers troubleshoot device issues, reduce product returns, and optimize the overall customer experience.

Retailers should seek providers with progressive roadmaps that offer integrated and complete solutions to ensure a seamless customer experience. Furthermore, retailers should consider parameters such as product capabilities, customer support and service innovation, sales enablement and marketing capabilities, when selecting a retail product protection partner.

“While on the surface all product protection plans seem very much alike, they are clear differentiators when it comes to servicing customers,” noted Iadarola. “Retailers are encouraged to conduct a detailed analysis of the various retail product protection providers in order to select the right partner to help meet their growth objectives.”

Retail Product Protection Plans in the United States: A Market and Competitive Review is part of the Mobile & Wireless Communications (http://www.wireless.frost.com) Growth Partnership Service Program. Frost & Sullivan’s related studies include:  Next Generation Mobile Protection Market Insight, An Insight into the U.S. Mobile Device Logistics Markets; Mobile Handset Protection, A Win-Win for Carriers and Consumers. All research included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Retail Product Protection Plans in the United States: A Market and Competitive Overview

Contact:
Clarissa Castaneda
Corporate Communications – North America
P: 210.477.8481
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Frost & Sullivan: Big Data Evolution Fast-tracks the Development of Smart Buildings

– Increasing partnerships between data analytics and building technology providers highlight the immense value big data can bring

LONDON, Aug. 28, 2014 /PRNewswire/ — The convergence of next-generation IT solutions such as the Internet of Things (IoT), cloud computing, big data and data analytics will open up new business opportunities for both building technology and ICT companies. More importantly, these platforms are expected to become the pillars of smart building evolution in terms of technology, business value and customer satisfaction.

New analysis from Frost & Sullivan, Big Data as an Enabler for Smart Buildings, finds that urbanization, the connectivity and convergence of smart technologies, and communication between smart devices are the three big trends that will drive the development of the smart buildings industry.

“The ongoing convergence of operating technology and IT indicates that key technology advancements will gather pace in the fields of data analytics, cloud services and IoT,” said Frost & Sullivan Energy and Environmental Research Analyst Anirudh Bhaskaran. “Big data, especially, will emerge as a more valuable delivery model owing to affordable upfront costs and lower resource usage.”

In addition, big data provides an open platform that enables the integration of data from different systems. The technology’s scalability is another crucial benefit that will underpin its value in the smart building space.

The integration of ICT and building technologies to satisfy the technical demand for big data and analytics applications will lead to new partnerships between data analytic and building technology providers in the near future. Tier I building technology participants, in particular, will welcome strategic alliances with data analytic vendors.

“Local government focus on technology, policy, economy and infrastructure will lend further momentum to smart building initiatives and, gradually, lead to their evolution into smart cities in the next 10 to 15 years,” added Bhaskaran. “The BRIC countries – Brazil, Russia, India and China – are likely to invest strongly in smart buildings and smart cities due to expanding population, economic growth and rapid urbanization.”

As a result, organizations involved in both big data and building technologies will be at the frontline of the smart building space when the two industries merge into a single platform.

For more information on this research, please email Chiara Carella, Corporate Communications, at chiara.carella@frost.com.

Big Data as an Enabler for Smart Buildings is part of the Building Management Technologies(http://www.buildingtechnologies.frost.com) Growth Partnership Service program. This Market Insight discusses the mega trends driving big data in smart buildings as well as the ecosystem of next-generation information technology. Further, the Insight tracks the potential of big data and analytics as game changers in the smart buildings industry.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on “the next big thing”

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Contact:

Chiara Carella 
Corporate Communications – Europe 
P: +44 (0) 20 7343 8314 
M: +44 (0) 753 3017689 
E: chiara.carella@frost.com

http://www.frost.com 

Report-TCO Development Sees Progress and Remaining Hotspots in Socially Responsible Manufacturing Among IT Brands

STOCKHOLM, Aug. 28, 2014 /PRNewswire/ — A new report from TCO Development reveals some progress but also persistent problems among 17 major IT hardware brands working to comply with new socially responsible manufacturing requirements. The State of Socially Responsible Manufacturing in the IT Industry reviews brand efforts over a one-year period to meet new criteria in TCO Certified, the sustainability certification for IT products.

(Logo: http://photos.prnewswire.com/prnh/20120910/559379-a)
(Photo: http://photos.prnewswire.com/prnh/20140828/702915)

Progress was observed in three areas; brand responsibility for ethical treatment of manufacturing workers, establishing a structure for social responsibility work, and transparency between brands, manufacturers and other stakeholders.

However well known problems persist, including excessive overtime, insufficient health and safety routines, labor law violations and restrictions on worker rights to organize. 15 of the 17 brands showed non-conformities in one or more areas.

Initially introduced in 2009 and expanded in 2012, the criteria focus on brand compliance with ILO Core Conventions, the UN Convention on the Rights of the Child and labor and social protection laws in the country of manufacture.

Niclas Rydell, Product and Certification Director at TCO Development comments: “By adding social criteria to TCO Certified, we want to give buyers a way of identifying IT products that are sustainably and responsibly made. We’re also providing industry with a structure for measuring incremental improvements in social responsibility, treatment of workers and transparency with stakeholders.”

Compliance is verified by accredited third parties using a strict code of conduct, third party factory audits and corrective action plans. Factories and products are also subject to follow-up spot checks and audits. Rydell concludes: “Moving forward, continued brand engagement in follow-up and implementation of the code of conduct will be key to addressing identified hotspots and making further progress.”

About TCO Development 

TCO Development advances sustainable IT and is the organisation behind TCO Certified, the third party sustainability certification for IT products. Professional IT purchasers worldwide choose TCO Certified products as part of their sustainable IT strategy. Products achieving TCO Certified meet a broad series of criteria to ensure that manufacturing, use and recycling is carried out with consideration for environmental, social and economic responsibility. TCO Certified is available for displays, notebooks, tablets, smartphones, desktops, all-in-one PCs, projectors and headsets. TCO Development is headquartered in Stockholm, Sweden, with regional presence in North America and Asia.

Contacts:
Niclas Rydell +46705889271
Niclas.rydell@tcodevelopment.com

Press: Anna Pramborg: +46706676404
Anna.pramborg@tcodevelopment.com

Thomson Reuters Collaborates with DataCite to Expand Discovery of Research Data

— Thomson Reuters Data Citation Index cooperation with DataCite guides industry to better discovery, attribution and connectivity to research

PHILADELPHIA, Aug. 28, 2014 /PRNewswire/ — The Intellectual Property & Science business of Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced a collaboration with DataCite, a leading global nonprofit organization dedicated to enabling people to find, share, use, and cite data. The collaboration will promote the discovery of research data sets through the Data Citation Index(SM), a single-point solution providing access to quality research data sets from multi-disciplinary repositories around the world.

This collaboration will connect the Data Citation Index to high quality research data from repositories worldwide that work with DataCite. This will ensure that the valuable content that has been made citable by DataCite is globally discoverable, properly attributed and reusable by other researchers. As part of the Web of Science™ — the premier scientific search and discovery platform and industry authority in science, social science, and arts & humanities citation indexes — inclusion within the Data Citation Index will also further DataCite’s mission of increasing acceptance of research data as citable contributions to the scholarly record.

“We are excited to be working with Thomson Reuters to enhance the ways that people can find and use data,” said Adam Farquhar, president of DataCite. “With global research output rapidly increasing and citable datasets becoming legitimate contributions to the scholarly record, it is imperative that researchers around the globe can efficiently access, cite and measure data-intensive research.”

Since creating the Data Citation Index, Thomson Reuters has worked closely with global industry leaders to expand the breadth of research discovery by capturing bibliographic records and cited references for digital research, as well as literature describing research which cites or uses the data, stewarding the accurate identification, attribution and measurement of this growing body of scholarship. The Data Citation Index allows users to gain a comprehensive view of the genesis of research projects and influence the future paths they may take, while minimizing the duplication of work and speeding the scientific research process to keep pace with the changing global research landscape. Through linked content and summary information, this data is displayed within the broader context of the scholarly research ecosystem, enabling users to gain perspective that otherwise would be lost if viewed in isolation.

“We are pleased to be working with DataCite, a leader in providing persistent identifiers to high-value data, to improve access to datasets and accurate scholarly attribution,” said Gordon Macomber, managing director of Thomson Reuters IP & Science. “As the global output of scientific and scholarly research continues to rapidly grow, DataCite’s support of the Data Citation Index raises the importance of identifying prior research to enhance the scientific process.”

Learn more about the Data Citation Index and Web of Science.

DataCite

DataCite is a global nonprofit membership organization that aims to make research better by enabling people to find, share, use, and cite data through reliable, easy-to-use persistent data identification services underpinned by the DOI system. DataCite engages stakeholders including researchers, scholars, data centers, libraries, publishers and funders through advocacy, guidance and services. For more information, go to www.datacite.org.

Thomson Reuters

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world’s most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com.

CONTACT

Thomson Reuters

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South-East Asian Leaders Discuss the Progress and Challenges with ASEAN Integration At The Economist Events’ South-East Asia Summit

JAKARTA, Indonesia, Aug. 27, 2014  /PRNewswire/ — Regional leaders from across government, business, academia, multilateral institutions and non-government organisations (NGOs) came together today at The Economist Events’ South-East Asia Summit to discuss the political, economic and strategic rationale for South-East Asian nations seeking a more integrated region. The event, held in Jakarta at the Ritz-Carlton Hotel, Mega Kuningan, brought together more than 160 high-level executives to explore how greater regional integration is affecting South-East Asia’s economic growth and its interaction and connections with the rest of Asia.

During the keynote panel discussion, Idris Jala, Minister in the Malaysian Prime Minister’s Department and Chief Executive Officer of the Performance Management and Delivery Unit (PEMANDU), expressed how South-East Asia was moving from a loose neighbourhood of states to a connected regional community, through greater political, economic and social integration and the growing importance of the Association of Southeast Asian Nations (ASEAN), in the lead up to the ASEAN Economic Community 2015. However, Jala remarked on how ASEAN still faced many challenges.

“The first challenge is that ASEAN countries are at very different levels of development…There has to be a self-assessment of where each country is in terms of achieving goals set down by ASEAN. A consolidated assessment of where we are. We will then know where the gaps are…ASEAN was never intended to be like the European Union, nonetheless though, if we really believe in greater ASEAN integration, we need to move to greater compliance with ASEAN Economic Community obligations and commitments.

“If you want ASEAN to progress, we need to define the obligations for collaboration and then define the rules for competition. The private sector wants clear rules….There is tremendous opportunities for companies laying a footprint across ASEAN, but we need to lay down clearer frameworks for them.”

Visit the South-East Asia Summit website here, which includes the full programme and speaker details.

To select and download photos from the event, please click here: https://edelmanftp.box.com/s/btgy6la9vh378iyt8opj

Supporters of The Economist Events’ South-East Asia Summit include HSBC as the Lead Sponsor. Asian Institute of Finance and Deloitte are the Supporting Sponsors. Melbourne Business School is the Academic Sponsor. Edelman is the Official PR agency.

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Edward Parker
Email: Edward.Parker@edelman.com 
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