STRATACACHE, a leading provider of scalable, high-performance digital signage and retail marketing technologies, has formally announced the acquisition of the LIFT Network from Verifone. This was something first rumoured to be happening at #NRF17 earlier this year.
VeriFone first acquired LIFT Retail Marketing Technology Inc. back in March 2012.
LIFT is an interactive digital upsell platform at convenience store (C-Store) retailers nationwide. This newest acquisition further positions STRATACACHE as the biggest player in the in-store digital shopper marketing and engagement space. LIFT will roll up to PRN and report to PRN CEO Kevin Carbone, STRATACACHE’S own flagship retail media company.
The LIFT technology enables a seamless upsell opportunity at the point of sale with measureable ROI. It links basket information, shopper behavior, and cashier performance to deliver tested “plus one” sales. A touchscreen at checkout displays relevant offers based on real-time transaction data, allowing C-Store retailers to sell additional items to every shopper, personalize the customer experience with redeemable promotions, drive brand activation, and maximize cashier performance. Results demonstrate an ability to grow sales by 9% to 65%. Today, LIFT has 3500+ screens that deliver 64MM+ monthly impressions at Sunoco APlus, Global Partners LP, G&M Oil, Ricker’s, CITGO and other leading C-Store retailers.
Chris Riegel, CEO of STRATACACHE told us “The LIFT Network provides an outstanding opportunity to further evolve the digital shopper marketing experience in store,” said “This targeted upsell platform allows us to further grow our reach into the consumer’s path to purchase while positively impacting sales and gathering key customer insights at retail. With this acquisition from Verifone and the enhancements provided by our artificial intelligence, predictive analytics, and mobile analytics capabilities, STRATACACHE (PRN) can take this network to the next level.”
Jim Cox, Retail Development Manager at CITGO Petroleum Corporation said “LIFT gives us a powerful upsell tool in our stores. It integrates easily with our POS system, interacts with every customer to market an extra item, and coaches our associates in real-time to upsell. It also provides actionable data that helps our team better understand basket information and cashier performance.”
Another customer, Beau Dickerson, Director of Sales, National Accounts at Pabst Brewing Co. said “In an era where marketing and using media to influence and interact with customers is costly, competitive, and all too often ineffective, LIFT offers a different approach by building digital media that engages customers at the critical point of purchase. They have great people, provide first-class customer service, and clever technology.”
This latest acquisition combined with the growth of PRN and the recent acquisitions of SCALA and RDM increases STRATACACHE’S advantage in the global retail sector. With over two million consumer-facing screens around the world, STRATACACHE is unmatched with a powerful suite of shopper engagement solutions.
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