With an eye on expanding its point-of-sale targeted marketing platform, U.K.-based Ecrebo said it received an investment of 12 million pounds, or $15 million at current exchange, from Sir Keith Mills, the founder of Air Miles and Nectar, and Joseph Schull, the former head of Europe for international private equity firm Warburg Pincus.
Powered by data analytics and shopper intelligence, Ecrebo’s software is positioned to play to consumer convenience while synchronously embedding marketing coupons, new products and offers in receipts based on purchase history. In effect, each sale creates a post-purchase marketing channel for retailers by automating customized incentives that help drive sales.
Tailored to accommodate in-store shoppers, Ecrebo’s software offers omnichannel marketing strategies that emphasize the personalization of in-store experiences. Their insights are based on in-store shopping data as about 90 percent of total retail sales are still generated in brick-and-mortar stores.
“With double-digit redemption rates for major offers, these coupons have increased trip frequency, grown basket size and introduced customers to new and relevant product areas,” said Harry Bullard, the head of pricing and promotions at Marks & Spencer (M&S), a client of Ecrebo since 2012.
International Danish jewelry manufacturer and retailer Pandora implemented Ecrebo’s marketing platform in 220 of their U.K. stores earlier this month, aiming to capture customer data at the point-of-sale and offer digital receipts to in-store customers. Post-sale, shoppers receive an electronic record with purchase details and a product guarantee, including an opt-in to receive company updates and share feedback on in-store experiences. The brand relies heavily on automated receipts, as 60 percent of Pandora purchases are gifts.
Hassan Hajji, the cofounder of Ecrebo, said the company’s technology allows retailers “to use the data they collect from their customers intelligently to understand their behavior and preferences and deliver personalized communication at the checkout.”
“Brand loyalty, customer satisfaction and superior long-term financial returns really are the rewards for getting personalization right,” Hajji explained. “Today’s shoppers are more fickle and price-conscious than ever, with loyalty even harder to come by, so it is more important than ever to know and understand customers and their needs.”