TORONTO, Ontario – Feb. 21, 2023 /Globe Newswire/ - NowVertical Group Inc. (TSX-V: NOW) (OTCQB: NOWVF) (“NOW” or the “Company”), the vertical intelligence (“VI”) software and solutions company is pleased to announce new contract wins with the Carrefour Group (“Carrefour”), another of LATAM's largest retail groups based in Chile, as well as Poundland and the Range in the UK. These wins continue to expand NOW’s global retail footprint with new and existing clients, including work with customers like Nike, Clarks, Harrods, Mercato Libre, Carrefour Group Europe, The Vitamin Shoppe, Harrods, Nestle, and PVH Group, among others.
Adding to the existing relationship in Europe, NOW has signed a new contract with Carrefour in Argentina to implement cloud data architecture and governance standards that will allow them to move forward with a global strategy of being a data-driven company. The vertically intelligent transformation efforts will increase information integration from data models to help drive regional sales and maximize promotions. Carrefour Group is a French multinational retail and wholesaling corporation headquartered in Massy, France. It is the eighth-largest retailer in the world by revenue, operating a chain of hypermarkets, groceries stores, and convenience stores in more than 30 countries.
Additionally, NOW is working with AWS to provide data engineering and vertical intelligence solutions to a second sizeable international retailer that is present in five Latin American countries Chile, Argentina, Brazil, Peru, and Colombia, in the USA and China, with operations extending through different business segments that include Supermarkets, Home Improvement, Department Stores, Shopping Centers, and Financial Services with a Joint Venture in almost all countries.
NOW is also pleased to announce that it has expanded its SMART enrollments with UK retailers Poundland and The Range. SMART Support enables customers to improve user experience and conversions, maximize ROI from ad spending and reduce acquisition costs and customer churn rates. Through NOW’s SMART contracts, customers gain access to NOW’s global delivery platform to provide transformative outcomes through data engineering and analytics.
“We are incredibly pleased with the continuing success of our vertical expansion globally, our expansion of established customer relationships into new geographies, and the progress we are making integrating the newest members of the NowVertical Group. Recent studies* forecast AI alone in the retail vertical growing through 2030 to approximately $40 billion, with nearly three-quarters driven by solutions. NOW is purpose-built to meet this demand providing customer analytics, data management and governance, and profit maximization,” said Daren Trousdell, Chairman and CEO of NOW. “Our VI platform provides AI and big data solutions for our global retail customers to target and retain customers, streamline back-office operations, optimize the supply chain, improve business decisions, and drive ROI.”
About NowVertical Group Inc.
NowVertical Group is the vertical intelligence (VI) software and solutions company that helps organizations confidently make bold decisions. NOW's proprietary VI solutions, organized by industry vertical, are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI capabilities that are predictive and drive automation specific to each industry vertical. The company was founded in 2018 and is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For further information, please contact:
Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com
t: (212) 302-0868
Glen Nelson, Investor Relations
t: (403) 763-9797
* Source: https://www.grandviewresearch.com/industry-analysis/ai-retail-market-report
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