Big bank looks to engage Invigor as it continues heavy push into Asia
B2B data intelligence and solutions company Invigor Group Limited (ASX:IVO) today reported that its Shopper Insights and Loyalty solution has been selected as the product of choice by several large multi-national groups and nationwide retailers.
Invigor helps companies in the retail and service industries turn data analytics into dollars. It allows businesses to gain a holistic view of their customers and competitive landscape to not only understand, but effectively engage with today’s physical and digital consumers. Combined with proprietary data and predictive engines, Invigor provides strategic insights and recommendations that empower businesses to successfully influence future customer strategy and increase long-term profitability.
These solutions are now gaining traction among a wide range of retailers and multi-nationals.
The current pipeline of contracts and their potential value are substantial and could underpin a strong recurring revenue stream for Invigor.
Adoption of IVO’s solutions will help drive in-store revenues, whilst increasing the share of transactions being generated from shoppers.
It has been a good quarter overall for Invigor, with the company securing a major partnership with the Retail Drinks Association to actively promote Invigor’s solution across their several thousand membership base. This complements its relationship with Member Retail Liquor Specialist Group, which operates 11 Celebration and Bottle O stores in NSW and ACT and has already been contracted to adopt the solution.
Further to this, a major Australian National retailer will also implement the solution across several of their stores with a view to a nationwide rollout.
An International Brand group are looking also to adopt these solutions to enable the greater take up of their products in the marketplace.
However, what could be a major catalyst for Invigor, is the roll out of its solution by a large Asian banking group, which is looking to engage IVO as part of its digital strategy. The pair is in advanced discussions to rollout the first stage of what will eventually be a multi store project across Asia.
Invigor CEO, Gary Cohen said of the coming contracts and solutions roll-out, “Invigor has invested heavily into these two product groups. The payback of our investment with the current adoption and the potential scale of some of the contracts and discussions is very pleasing and validates our prior investment decisions.”