The announcement was made at the opening day of the Retail Business & Technology Expo in London.
The majority stake in Market Hub allows the Group to bolster its development in the United Kingdom and Ireland, and to leverage the start-up’s disruptive technology to further its adoption by retailers around the world.
Market Hub is an Irish retail technology start-up founded in 2013. Its technology connects into the point of sale (POS) systems of major retailers. It is designed for businesses who aspire to be truly agile, instructing retailers what to do and automating the action. Market Hub identifies, analyses and monitors key trends in sales, stock and waste that go unnoticed in-store and loses the retailer money. It provides highly effective, actionable recommendations to improve margins and sales and empower retailers to cut waste dramatically.
The combination of SES-imagotag’s innovative Electronic Shelf Label (ESL) solutions and Market Hub’s technology results in a new offer, V:Analytics, part of the VUSION Cloud Retail IoT platform. Market Hub’s data, notably on price, can be streamed live and in seconds to the connected labels on store shelves, creating an innovative link between the data and the shop floor. Therefore, stores can reduce up to 50% of their daily wastage, automatically increasing their sales and gross margin, while improving price integrity and intelligence through big data analytics. This solution is live in several pilot stores in the United Kingdom and Ireland.
Roy Horgan, CEO and Founder of Market Hub added: “This partnership represents an important combination for retailers. SES-imagotag are leading innovators in the space, and their shelf label technology will help ensure the data Market Hub provides on products is more easily actionable in stores. One of the biggest challenges we see with data, especially when it comes to retail, is how it is used on the shop floor. With Market Hub and SES-imagotag’s joint offering, we have the technology to deliver an end-to-end experience which will optimise profit margins and reduce waste.”
Thierry Gadou, Chairman and CEO of the SES-imagotag group said: “We’re delighted by this partnership with Market Hub. The big data analytics service they provide helps to realize the full potential of our market-leading solution. For retailers, this means a fully integrated digital service which can be understood and implemented from the CEO’s desk to the store manager’s back office. Our alliance with Market Hub ensures we are a step closer to helping retailers achieve the digital transformation of physical retail. At the same time, the Irish innovative company and its team will greatly benefit from SES-imagotag thanks to its unrivaled international market reach and strong financial and industrial base.”