Source: Daily News Egypt
Leading tech investor, A15, has capitalised its investment in the Ireland-based retail personalisation platform Intouch by doubling down its initial investment in the Artificial Intelligence (AI) -driven company.
This comes after A15 invested in Intouch and providing them with in-kind services.
Intouch allows brick-and-mortar stores to collect in-store data about its customers using artificial intelligence to optimise customer interactions and operations. The tool helps retailers with physical stores personalise the shopping experience and better connect their customers to appropriate products.
“The investment from A15 will strengthen our deep ties with the region and our commitment to serve the region with state-of-the-art technology to push the retail experiences for shoppers to the next level,” CEO of Intouch Sameh Abdalla says.
“The Middle East is vitally important to us with several pilots for the largest players in the region going live within the last year,” he added.
In the Middle East specifically, the compound annual growth rate (CAGR) of the grocery market registered 11%, while globally the percentage stands at -2%, based on McKinsey statistics.
According to professional services company Accenture, 75% of consumers prefer to buy products from retailers that personalise their offering.