A leading data analytics, insights and loyalty company, Invigor Group Limited (ASX: IVO) on 17 April 2019 confirmed that it has entered into a partnership with Retail Drinks Australia (RDA). Based on the exclusive partnership, the company will be providing the members of Retail Drinks Australia with a suite of Data Insights products, leveraging the Company’s core insights technology platform.
RDA is a national industry body that represents over 6,600 Australian retail liquor stores along with national chains as well as the independent retailers.
The partnership of the company with RDA will enable IVO and RDA to offer better understanding related to the Promotions, Product, Loyalty as well as Competitive Pricing to its member. As per IBISWorld Industry report, it was found that the liquor retail industry growth was stagnant and it pointed to changing alcohol trends, the declining profitability as well as the increasing competition as some of the key drivers.
In late 2018, the company secured a contract worth $520,000 with Australian brewer Carlton & United Breweries. This contract along with the recent partnership with RDA reflects the growing and strengthening presence in the alcoholic beverages sector.
The partnership of the company with RDA will bring new opportunities for the company’s Pricing and Loyalty solutions. This partnership is an indication of the growth of Invigor in the alcoholic beverage space.
Based on the Partnership, Gary Cohen, the CEO of IVO stated that the partnership with RDA highlights the growing demand of suite of Pricing and Loyalty product of IVO and also the reliability of the company’s technology in the sector.
When it comes to the Pricing and Loyalty solutions for the retail sector, this partnership shows how the solutions provided by IVO differs with respect to the solutions provided by its competitor.
The Retail Drinks Insights was designed as per the consultation with the members for members. The insights will benefit all the liquor retailers in Australia by providing them with increased visibility of store performance as well as understand their customers by helping them to make more data-driven buying as well as promotions dialogue with their suppliers.
On 10 April 2019, IVO announced that it bagged a multi-brand deployment of the WeChat pay platform in Singapore. It had entered into an agreement with Asia’s leading luxury goods retailer, Club21. The company would be combining its promotions dialogue with their suppliers into the WeChat platform where it can target the customers, especially the Chinese tourist who can redeem the offer when they shop at Club 21 stores in Singapore. This indicates the growing footprints of the company in Singapore.
On 12 April 2019, IVO further expanded the WeChat footprint in Singapore.
In the previous six months, the shares of IVO generated a negative return of 20%. However, in the last one month, the stock gave a decent return of 14.29%. By the end of the trading session on 17 April 2019, the closing price of the stock was A$0.04. IVO holds a market capitalization of A$10.64 million and approximately 2.66 billion outstanding shares.