Fobi Data Exchange Launches With First Partner, In-Touch Group, A Leading UK Platform Managing Data From 6,000 Independent Convenience Stores
In-Touch group will optimize Data With Fobi AI Driven Analytics And Monetize Through Global CPG Brands. Fobi Data Exchange (FDX) Delivers Analytics For Both Convenience Stores and CPG Brands Previously Thought Unattainable
VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a global leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, is pleased to announce the launch of the Fobi Data Exchange (“FDX”) with its first data monetization agreement and partner, In-Touch Group, a provider of consumer insights and digital marketing to retailers and consumers. In-Touch currently manages a data lake of point-of-sale transactions for approximately 6,000 convenience stores, which is projected to increase to approximately 10,000 stores by the end of 2021.
Through FDX, Fobi will optimize and monetize this data by providing Global CPG brands with insights, analytics and advanced audience segmentation capabilities into independent convenience stores never before thought possible.
FOBI AND IN-TOUCH SOLVE MAJOR PAIN POINT BY PROVIDING BRANDS WITH GREATER VISIBILITY INTO FRAGMENTED INDEPENDENT CONVENIENCE STORE SECTOR
The unsolved challenge for market research companies has always been the convenience and independent retail marketplace. Access to data in these channels is extremely valuable and this partnership with In-Touch will solve the pain point of limited visibility and access to category and brand insights across these markets. With FDX, brands will now be able to enhance category management effectiveness and retail execution in a very fragmented but very large and competitive market.
Richard Lee, SVP, Strategy and Corporate Development at Fobi stated: “These independent convenience stores represent a large proportion of branded goods sales in the UK, but a small proportion of actionable insights due to the fragmented nature of their collective data. Through FDX we will apply our industry leading AI analytics to create visualization, forecasting, insights and predictive analytics data for CPG companies that simply wasn’t previously possible.”
FOBI DATA EXCHANGE CREATES NEW REVENUE STREAM BY PROVIDING GLOBAL CPG BRANDS AND DATA AGGREGATORS WITH UNPARALLELED DATA
In-Touch’s ePOS integration provides the ability to source transaction level and basket level data for CPG categories within the convenience store channel. Through this partnership, Fobi will have the ability to optimize the data, provide sought after access to this channel and provide valuable insights into the fragmented sector, creating a huge opportunity for CPG companies to increase brand share and drive lucrative monetization opportunities for FDX.
FDX will provide powerful analytics, including drill down access to valuable retail and transactional data for CPG Brands and third parties to build customized segmented audiences to curate and activate personalized targeted promotions and campaigns.
Rob Anson, Fobi CEO stated: “This partnership and data monetization agreement enables us to showcase the power and value of FDX, which will benefit brands immensely by gaining access to our insights, analytics and advanced audience segmentation capabilities. As data is the new gold, the value that the Fobi Data Exchange brings to the company and shareholders is very exciting as it provides a means to an entirely new path of revenue.”
Gerry Hooper, MD of In-Touch stated: "This new partnership is designed to show the power of data and the influence it can have in terms of increasing brand distribution and RoS. Working with Fobi will enable, via their analytics capabilities, a broader reach for this rich vein of valuable transaction data and enable the partnership to deliver value back into the convenience sector, via digital campaigns for consumers and incremental revenue for retailers. A 'Win Win' for all parties involved."
IN-TOUCH PARTNERSHIP TO EXPLORE RECEIPT PRINTING AND DIGITAL COUPONS AND VOUCHERS AT TILL USING THE ALL NEW FOBI 3.0
For the first time the independent channel can participate in the same way that large grocers and other retailers can by using the new Fobi 3.0 IoT device. By enabling receipt printing, digital coupons and vouchers that can be redeemed at the POS, Fobi is revolutionizing the retail and loyalty ecosystem and driving significant revenue through new business models.
In-Touch is a technology company and platform that enables consumer and partner insights and a marketing platform that adds value to both retailers and consumers. It’s a powerful solution which can seamlessly process secure transactions and offer mobile digital coupons and in-store rewards in a variety of ways and environments.
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
For more information, please contact:
|Fobi AI Inc.||Fobi Website: www.fobi.ai|
|Rob Anson, CEO||Facebook: @ Fobiinc|
|T : +1 877-754-5336 Ext. 3||Twitter: @ Fobi_inc|
|E: firstname.lastname@example.org||LinkedIn: @ Fobiinc|
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, and results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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