In-store Operations Technology Leader, Retail Insight, Eyes Accelerated International Growth
Now processing over 10% of the global grocery sales data, Retail Insight, the leading provider of in-store operations execution software, is targeting its next growth phase, consolidating its position as a global technology leader, while expanding into new territories, supported by a series of senior hires.
Having added several new major clients in 2022, including health food grocer Sprouts, Retail Insight now works with more than 30 of the world's leading grocers, supermarket brands and CPGs in over 20 markets.
Its suite of store operations execution software, powered by its cognitive technology platform, enables over 115,000 daily users to maximize the full potential of their store through the use of data. The platform now processes over two trillion calculations every week to surface actionable insights that quickly deliver significant value to retailers and CPGs alike. In 2022, Retail Insight delivered over $500 million in gross profit back to its customers, whilst also achieving an average return on investment (ROI) in excess of 30x.
With over 35,000 stores already live globally, Retail Insight is eyeing the next phase of its ambitious growth trajectory in new territories, supporting its expansion plans with several strategic senior hires. It recently announced the appointment of grocery retail technology expert, Florian Strecker, as Vice President for DACH, as well as Fabien Thomas as Sales Director for France, who brings 25+ years of grocery tech experience to the role. Retail Insight also will appoint a raft of new senior hires in strategic growth markets, including Spain, France, the Nordics and Italy, which will replicate its success in North America, Northern Europe and Asia-Pacific. Its target is to double headcount globally, as well as opening new offices in Dusseldorf, Maastricht, Paris and Dubai.
As retail continues to face challenging trading conditions, with inflationary pressures across manufacturing, supply chains and labor further squeezing already tight margins, Retail Insight's solutions are centrally positioned to help retail and CPG businesses maximize the full potential of every store, delivering advanced performance, productivity and value.
Paul Boyle, CEO of Retail Insight, commented: "We are witnessing a transformative era in the global retail industry, where retailers and CPGs are turning to technology to elevate their in-store performance. Our primary mission is to empower our customers to execute flawlessly at the shelf-edge, thereby enabling them to create the perfect store. With ambitious growth targets, we aim to extend the vision of store executional excellence to a broader range of retailers and suppliers, equipping them to boost sales, optimize costs, and drive sustainable margins."
Retail Insight's scaling journey is already well underway, with the recent launch of InventoryInsight, a machine learning-driven software that identifies and automates the correction of inaccurate inventory records, as well as a number of pilots and estate-wide roll-outs going live with some of the world's leading retailers and category-king suppliers.
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