How Mars wants to double sales by 2030 by investing $1 billion

Mars has unveiled plans for a $1 billion (€897.1M) investment over the next 3 years, with 30% of the funds dedicated to generative AI, data management, e-commerce, and other cutting-edge technologies.

The majority of the investment (70%) will focus on making the dog and cat food division more digitally oriented. This includes hiring 300 tech workers, upskilling existing staff, and bringing in third-party vendors and consultants.

The new hires, including data engineers, data architects, and digital product developers, will support Mars’ goal of doubling its digital sales by 2030.

Additionally, Mars plans to expand its use of electric vehicles with an aim to have 300 trucks on the road in Europe by 2025.

Advancing AI capabilities

So far, Mars’s AI initiatives have focused on “relatively standard applications for a large consumer products business.”

However, the multinational is beginning to leverage generative AI tools to analyze insights from nutritional research and internal data, aiming to drive future pet food innovations.

Mars is also using AI image recognition tools to make more accurate veterinary care diagnosis.

According to Ikdeep Singh, Global President of Mars Pet Nutrition, the company should focus on integrating AI for product development, marketing, and supply chain management business to address younger customers who are gravitating to social channels like TikTok and Instagram to learn more about pet ownership, nutrition, and vet care.