Invigor signs up leading player in liquor segment, Pernod Ricard Australia
Big data solutions company, Invigor Group (ASX:IVO) announced on Monday it had substantially expanded its customer footprint in the alcohol beverage market by signing up Pernod Ricard Australia as a client of its cutting-edge Insights Retail Software as a Service (SaaS) data analytics platform.
Insights Retail is the market leading cloud-based market intelligence solution developed by IVO that collects real-time data across online and offline prices, freight, consumer demand and marketing activity, including coverage of all major alcohol retailers and brands across Australia.
Underlining the significance of on-boarding Pernod Ricard, the group is an internationally renowned liquor manufacturer known for owning the world’s most comprehensive portfolio of iconic wine and spirit brands, including household names such as G.H. Mumm, Chivas Regal, Absolute Vodka, Jameson, Havana Club, Kahlua and Jacob’s Creek Wines.
Under the terms of the agreement Pernod Ricard Australia will leverage the Insights Retail platform to maximise its revenues and margins in the highly competitive alcohol beverage sector by gaining access to insights and information that will allow it to rapidly respond to changes in industry and pricing conditions.
It is this sort of data that clients of Invigor benefit from in terms of increasing market share, effectively targeting advertising and shaping its sales programs.
However, this company is in the early stages of growth and therefore investors should seek professional financial advice before considering these stocks for their portfolio.
IVO’s interconnected datasets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value for money.
Using its current products and a pipeline of additional offerings, IVO will have the ability to provide an end to end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
This is an ideal time for IVO to increase its exposure to a resilient sector such as alcohol and beverages, which isn’t traditionally as sensitive to downturns in consumer spending. With the broader retail sector experiencing challenges and negative sentiment surrounding the imminent arrival of Amazon, sectors which broadly fit into the non-discretionary spending area are likely to be sought after.
Amazon bringing challenges for bricks and mortar business
Similarly though, the threat some say traditional bricks and mortar retailers face from the likes of Amazon could well work in IVO’s favour, as consumer discretionary retailers seek to find ways to gain a competitive edge in a changing environment.
IVO’s management touched on this aspect in saying that cloud-based data analytics is now a critical and indispensable tool for business, particularly in highly competitive industries such as liquor manufacturing and distribution.
Commenting on this latest client win, IVO’s Chairman and Chief Executive, Gary Cohen said, “This contract further demonstrates Invigor’s ability to deliver substantial revenue generating contracts with major enterprises such as Pernod Ricard Australia, which strengthen and entrench our position as a leader in the fast growing data analytics market”.
Cohen also highlighted the fact that IVO has a robust sales pipeline and expects to secure additional clients and product categories in coming months, developments that are likely to provide share price momentum.
It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
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