Under the pilot agreement, Loop and Maplin intend to pursue joint marketing and revenue sharing opportunities through SaaS and ARPU (Average Revenue Per User) models
- Announced the launch of a Pilot agreement with Maplin Electronics, the UK’s leading online electronics retailer, to implement Loop’s real-time artificial intelligence analytics platform.
- Loop Insights CEO, Rob Anson, stated, “This opportunity with Maplin represents our first enterprise eCommerce retailer, providing Loop with a tremendous opportunity to demonstrate the power of our real-time, artificial intelligence-driven engagement to online customers….”
VANCOUVER, British Columbia, Feb. 04, 2021 — Loop Insights Inc. (MTRX:TSXV (RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement, and automated venue tracing to the brick and mortar space, is pleased to announce the launch of a Pilot agreement with Maplin Electronics, the UK’s leading online electronics retailer, to implement Loop’s real-time artificial intelligence analytics platform.
Loop Insights CEO, Rob Anson, stated, “This opportunity with Maplin represents our first enterprise eCommerce retailer, providing Loop with a tremendous opportunity to demonstrate the power of our real-time, artificial intelligence-driven engagement to online customers. Loop will deliver operational efficiencies for Maplin by providing real-time intelligence focused on supply chain and demand analysis, as well as inventory and fulfillment analytics, enabling us to showcase our AI forecasting tools. I have every reason to believe the pilot will be a great success for Maplin and open up the door to further lucrative global enterprise eCommerce opportunities.”
Agreement with Maplin Represents Loop’s Continued Expansion Into UK’s Retail Industry, Including Brick and Mortar and Now Ecommerce
Under the terms of the agreement, Loop will deploy its Insights platform consisting of the Company’s web-based portal, analytics dashboard, and AI-driven retail insights. Maplin will also provide Loop with access to web traffic data from its eCommerce platform, allowing the Company to create a unified picture of Maplin’s retail business in the digital world, thus creating new opportunities for increased revenues, consumer engagement, and data monetization.
Upon successful completion of the Pilot, it is the intention of both parties to implement Loop’s artificial intelligence-driven analytics platform for both Maplin and all of its suppliers including major electronics brands such as Sony, Panasonic, and Samsung.
Maplin Managing Director, Ollie Marshall, stated, “The signing of this agreement with Loop Insights is the first step towards enhancing our retail capabilities as Maplin looks to optimize its eCommerce operations. As a company that is 100% online, we are dedicated to remaining true to our consumer-focused brand, offering quality electronic products for consumers across Europe. Loop’s AI-driven retail insights add a new dimension to Maplin’s operations that will greatly optimize our operations and improve our overall customer experience.”
Insights Revenue Model Provides Potential For Recurring Annual Revenue Streams, Including Annual SaaS Licenses and ARPU (Average Revenue Per User) Fees
In previous press releases announcing new and completed successful pilots, Loop has provided shareholders with details pertaining to its pricing models for greater transparency. Each of those models pertained to physical chain locations with numerous tills per location.
The nature of this eCommerce Pilot Agreement does not include tills. As such, Loop expects to generate revenue through ongoing SaaS and ARPU (Average revenue per user) fees in addition to data analysis that will provide both Maplin and suppliers with an improved understanding of consumer trends. In addition, when the Company’s automated marketing “Engage” service and wallet pass loyalty applications are layered in, these numbers quickly multiply by 5-10x and provide the company with an even more significant potential revenue stream.
Finally, both Loop and Maplin intend to pursue additional monetization opportunities on a revenue-sharing basis using Loop’s brand segmentation capabilities. Maplin and Loop expect to also generate revenues through combined data sharing opportunities with Maplin suppliers and brands seeking retail insights data that can be leveraged for targeted omnichannel advertising. Under the Maplin model, these targeted marketing opportunities are expected to drive sales of niche and seasonal goods based on the optimization of trends and consumer data.
Read More: https://agoracom.com/ir/LoopInsights/forums/discussion/topics/754638-loop-insights-enters-into-first-pure-ecommerce-pilot-with-uk-s-leading-online-electronics-retailer-maplin-for-real-time-artificial-intelligence/messages/2301974#message
