springbig Introduces Brands Marketplace Feature
springbig’s first artificial intelligence feature helps retailers make data-driven decisions
BOCA RATON, Fla., April 19, 2023 (GLOBE NEWSWIRE) -- springbig (the “Company”) (NASDAQ: SBIG), a leading provider of SaaS-based marketing solutions, today announced the launch of its Brands Marketplace Offering. The Company’s first artificial intelligence-based (“AI”) solution uses consumer data to help its retail clients make data-driven decisions regarding the brands and products that are offered in their place of business.
springbig designed the Brands Marketplace to enhance the cannabis retail experience for retailers and consumers. The Company's data-driven solution tracks pertinent consumer trends within each of its Retail Clients including time of purchase, types of products purchased and the frequency at which customers buy particular items from said Retailer. Using advanced machine learning algorithms, the Brands Marketplace analyzes a customer’s shopping habits and identifies patterns in their behavior, preferences and demographics. Retailers can utilize the trends identified by the Brands Marketplace to make better-informed decisions regarding the brands that will be offered in their stores. The Company believes this will in turn yield the greatest return for the retailer and at the same time provide their consumers with the most appropriate product selection
"We are thrilled to introduce our first AI offering, which enables store owners to keep up with the different consumer trends developing day to day," said Jeffrey Harris, CEO of springbig. "Numerous consumers can regularly cycle through a storefront and purchase dozens of different items, which can be difficult for store owners to track. Fortunately, our new tool will simplify this aspect of business for our clients and help them make decisions that will benefit them and their patrons alike."
The Brands Marketplace is the latest addition to springbig's suite of business solutions. This year, the Company has launched its Build Your Own Audience, Compare Campaigns, Member Offers, Campaign Caddie and Email Marketing Engines features. Additionally, springbig has introduced integrations with COMBASE, Alleaves and Flowhub. The Company’s collection of data-driven tools has garnered recognition by Deloitte Fast 500, South Florida Business Journal Miami Inno Fire Awards, and more. For more information regarding springbig's latest efforts, please visit https://springbig.com/.
springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to cannabis retailers and brands in the U.S. and Canada. springbig’s platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers’ and brands’ customer engagement and retention. springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, springbig’s reporting and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. For more information, visit https://springbig.com/.
Forward Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of federal securities laws. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risks and uncertainties described under “Risk Factors” ’in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2023. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of springbig), and other assumptions, which may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.