Venture Fund Prostor Capital invested $2 million In Smart Checkout project.
Its an absolutely new channel of communication with retail store customers. The basis of Smart Checkout technology is hardware and software system that makes it possible to identify needs and preferences of each consumer, with maximum accuracy, while they pay at the cash register in a store, and create a unique offer based on this data.
One of the main advantages of Smart Checkout as a marketing tool is an accurate targeting — only target audience is informed about an upcoming promotion that increases a conversion rate and feedback from an advertising campaign.
Company has no direct competitors on Russian market at the moment. Although there is an American company Catalina Marketing, its technology is installed in supermarkets in USA, Canada, Japan and in some of the countries in Europe.
Open Retail Company intends to achieve revenue of $ 100 million by 2017.