Retail Media Networks really hit their stride in 2021 with eMarketer reporting $41 billion will be spent on the category. MediaRadar reported that from May 1, 2021 to January 31, 2022 over 23,500 companies representing 38,000 brands bought ads on Retail Media Networks. With these networks garnering so much revenue retailers are extending their digital advertising footprint to signage in store. INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) has developed patented technology which allows the EAS loss prevention systems located at the front entrance of the store to also operate effectively with two large digital display screens located within the detection field. “Having display screens at the front entrance of retail stores is proving to be an in-demand location for advertisers,” added Kyle Hall CEO of INEO Tech Corp.In addition to INEO Tech Corp., other companies to watch in this market include Criteo SA (NASDAQ: CRTO), Quotient (NYSE: QUOT), Pixelworks Inc. (NASDAQ: PXLW), and Publicis Groupe SA (OTC:PUBGY).
Look at INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF), For Example
INEO Tech Corp., the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, is pleased to provide the following update on its recent progress with retailers across the globe.
INEO continues to make significant progress by executing on its direct sales pipeline. The Company has expanded its footprint with a major retail client and is starting the next phase of its roll-out by deploying the INEO Welcoming System into large groups of stores in concentrated geographic regions. Combined with another retailer, which is just starting to deploy, INEO Welcoming Systems will be installed in over 30 locations within the next few weeks. The Company is well positioned to deploy more than 1,000 retail locations in the United States under the terms of its signed agreements.
Further to the Company’s announcement on May 30, 2022, INEO’s agreement with a Canadian retailer consisting of approximately 500 franchisee locations has resulted in the successful pilot installation at one store in the greater Vancouver area and the Company has commitments to install systems in additional stores in the coming weeks. INEO remains on track to roll-out all of the committed locations with systems this year.
Kyle Hall, CEO of INEO, commented, “We are very excited with the significant progress and momentum INEO is building with large retail chains. Retailers are quickly becoming aware of INEO and are captivated by our ability to provide digital display screens inside of a loss prevention system. More importantly, our patented product generates revenue for the retailer with our integrations to the retailer’s Retail Media Network. Having display screens at the front entrance of retail stores is proving to be an in-demand location for advertisers. Furthermore, we are very pleased with our partner Prosegur’s success in achieving pilot installations with several large retailers across the globe. We are witnessing increasing numbers of pilot systems and strong levels of interest to convert pilot system installations into full scale deployments and roll outs.”
The Company’s sales pipeline has increased to over $40 million in annual recurring revenue with increasing traction through the global distribution partnership with Prosegur, a multi-national security solutions company based in Spain. Through this partnership with Prosegur, INEO has installed or secured commitments for pilots with several retail chains in the United States across various industries including pharmacy, agriculture supplies, department store, clothing retailer, global sports franchise, supermarket and luxury department store chain. Combined, these retail chains represent over 8,000 potential store location installation sites for INEO in the United States alone.
In addition, Prosegur has been instrumental in landing a South American supermarket chain which is now completing its pilot stage and is committing to roll-out many more locations in early 2023.
Other related developments from around the markets include:
Criteo SA, a global technology company operating one of the world’s leading Retail Media Platforms has rescheduled its Investor Day to October 31, 2022 in New York City. The Investor Day will be an opportunity for the Company to provide an update on its mid-term financial outlook. The event will feature presentations from Criteo's executive leadership team followed by a question-and-answer session. Presentations will begin at approximately 8:30 AM Eastern Time. A live webcast and Investor Day materials will be made available on the Company's investor relations website.
Quotient a leading digital media and promotions technology company, announced its digital out-of-home (DOOH) multi-touch media measurement capabilities within the Quotient Analytics Platform. Advertisers, retailers and agencies can access near real-time attributable sales and return on ad spend to enable meaningful adoption of DOOH as well as visibility into the channel’s role within holistic omnichannel campaigns. “It’s more important than ever that ad buyers feel comfortable with their investments and can validate them. Increasingly, that validation means linking campaigns, or a specific part of a campaign, directly to metrics that directly impact the business, like sales,” said Norm Chait, Senior Director, OOH Practice Lead at Quotient.
Pixelworks Inc., a leading provider of innovative video and display processing solutions, announced financial results for the second quarter ended June 30, 2022. “Second quarter revenue increased sequentially and grew 36% year-over-year, marking another consecutive quarter of strong double-digit growth and highlighted by record quarterly revenue in our mobile business," stated Todd DeBonis, President and CEO of Pixelworks. "We also experienced sustained customer demand outside of mobile, with revenue in our Projector business reaching the highest quarterly level in more than two years.”
Publicis Groupe reported on CEO On Arthur Sadoun's proposal, “the management team has been strengthened with the creation of a Management Board in order to prepare for the future of the Group. This new management team is made up of highly qualified personalities who have demonstrated great mastery of the operations for which they are responsible: Agathe Bousquet, President France of Publicis Groupe; Dave Penski, CEO Publicis Media US; Carla Serrano, Strategy Director of Publicis Groupe; Nigel Vaz, CEO Publicis Sapient”.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. INEO Tech Corp. paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares INEO Tech Corp. Please click here for disclaimer.
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