Why we invested in Foxintelligence
Foxintelligence offers real-time, transaction based intelligence for retailers, based on electronic receipts.
“Data is the new oil”, we all say. Brick-and-mortar retailers are heavily relying on data points, such as their updated market share, best selling products and brands, demographics, pricing and discount strategy, breakdown of the product and category mix etc. to stay competitive in the market. Traditional measurement and data analytics companies such as Nielsen, Kantar and Ipsos provide data and marketing studies from offline transactions, but they are unable to measure online KPIs. As a consequence, e-merchants run their businesses without almost any transaction based market data. But is this data available? Yes.
Foxintelligence found a very witty way to offer this type of data, not only in real time, but also at an item level, by scanning e-receipts in mailboxes. Clearly, this is a game changer, even if we accepted the risk of an email provider dependency and efforts related to regulatory compliance. Foxintelligence offers gold for any merchant and other businesses as no one can ignore online developments and the rapidly growing e-commerce space.
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