Loop Insights Enters Into Five-Store Pilot Agreement With Sobeys, Canada’s Second-Largest Grocer, To Deliver Digital Receipts Via Loop’s Wallet Pass Technology

Rhea-AI Summary

Loop Insights Inc. (RACMF) announces a pilot program with Sobeys, Canada’s second-largest grocery chain, to implement Loop’s AI-driven Insights and Engage platforms across five selected stores. The pilot will also test Loop’s new digital receipt capability and Wallet pass technology aimed at enhancing customer engagement and optimizing retail operations. Sobeys, generating over $28 billion in annual sales from 1,400 locations, aims to improve customer experience through this collaboration. Successful results may lead to further expansion of the partnership.

Positive

• Partnership with Sobeys could enhance market visibility and credibility.
• Potential for revenue growth from a successful pilot program.
• Access to a large customer base with Sobeys' extensive network.

Negative

• Dependence on the pilot's success for future expansion.
• Market uncertainty and risks associated with new technology adoption.

VANCOUVER, British Columbia, March 18, 2021 (GLOBE NEWSWIRE) -- Loop Insights Inc. (MTRX:TSXV RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, is pleased to announce the Company has entered into a five-store pilot with Sobeys, Canada’s second-largest grocer, to provide Sobeys with Loop’s Insights and Engage platforms, including its new digital receipt capability, as well as Loop’s Wallet pass technology.

Sobeys SVP and Chief Information Officer Bruce Burrows stated: “Loop Insights’ diverse suite of services was an obvious fit for Sobeys as we look to drive consumer engagement and close gaps in our personalization of the customer experience. By testing Loop’s Fobi device in our retail operations, we hope to connect more directly with customers while returning AI-driven insights to optimize our retail operations.”

Loop Insights CEO Rob Anson stated: “Signing this five-store pilot agreement with Sobeys, which generates over $28 Billion in annual sales from more than 1,400 stores under various banners across Canada, is another clear indication of the power of Loop’s enterprise-level services, including Engage, Insights and our Wallet pass technology. Following our LOI to acquire Passcreator, we now have complete control of our technology, which will allow for customized, large-scale implementations for our clients.”

Under the terms of the agreement, the Company will deploy its Fobi device at five select Sobeys locations in order to pilot the onboarding of shoppers to receive electronic receipts.

Should the pilot program achieve its desired results, the parties may expand the scope of the relationship to additional Sobeys locations.

This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion

About Empire

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire’s key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $28.4 billion in annual sales and $15.0 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 127,000 people.

About Loop Insights

Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.

For more information, please contact:

Loop Insights Inc. Rob Anson, CEO T : +1 877-754-5336 Ext. 4 E: ir@loopinsights.ai

LOOP Website: www.loopinsights.ai Facebook: @ LoopInsights Twitter: @ LoopInsights LinkedIn: @ LoopInsights

Sobeys Inc.
Karen White-Boswell
Director, External Communications
T: 1(416) 779-2319
E: Karen.White-Boswell@sobeys.com

This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

 

 

 

FAQ

What is the purpose of Loop Insights' pilot program with Sobeys?

The pilot aims to test Loop's AI-driven Insights and Engage platforms, including digital receipts, to enhance customer engagement at selected Sobeys stores.

How many stores will Loop Insights pilot with Sobeys?

Loop Insights will conduct a pilot program at five selected Sobeys locations.

What potential benefits could arise from the pilot program between Loop Insights and Sobeys?

If successful, the pilot could lead to an expanded partnership, enhancing customer engagement and driving revenue growth.

What is the expected impact of the pilot program on Loop Insights' business?

The pilot could enhance Loop Insights' market credibility and visibility, potentially leading to increased business opportunities.