Cloud-based predictive analytics platform First Insight has acquired SnapRetail, a digital marketing platform based in Pittsburgh, US.
The move is aimed at enhancing First Insight’s retail services platform, particularly in driving in-store traffic and online sales for retailers and brands.
Financial details of the acquisition have not been disclosed.
First Insight CEO Greg Petro stated: “This acquisition augments our existing decision-making capabilities with even more robust, discrete and actionable data insights.
“We expect future acquisitions that will further fortify our ability to amplify retail operational outcomes. SnapRetail’s innovative consumer engagement programmes are aligned with and will seamlessly integrate into First Insight’s consumer-centric expertise, adding depth and muscle to our data capabilities aimed at converting consumers into loyal customers.”
SnapRetail marks the beginning of First Insight’s planned acquisitions and internal developments intended to expand its concept-to-conversion offerings.
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The company’s platform is designed to allow retailers and brands to strengthen their revenues and profitability using its consumer-driven analytics.
The platform delivers analytics to strategic, planning, product design, pricing, sourcing, merchandising, marketing, supply chain and sales decision-making areas.
In early January 2024, First Insight launched the MY INSIGHT mobile app, an enhancement to the InsightSUITE platform used by retail merchants, designers and planners.
The app provides tools for assortment building and rationalisation, offering a more rapid and private approach compared to traditional methods.
InsightSUITE differentiates itself from traditional market research tools by actively engaging targeted consumer segments and delivering precise, predictive analytics within hours.