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Loop Insights enters the £4.5 billion UK forecourt sector through its partnership with Suresite Group

Forecourt operators to get access to real-time data from any point-of-sale through Loop’s IoT device


 

London, UK / Vancouver, BC, April 14, 2021: Loop Insights (MTRX:TSXV RACMF:OTCQB), a provider of contactless solutions and artificial intelligence for the brick and mortar space, announces a new Proof of Concept (PoC) with Suresite Group. The cooperation will see selected Suresite retail locations take advantage of Loop’s IoT Fobi device and Insights platform.

Loop Insights is growing its UK retail presence

According to KPMG, the UK’s forecourt or gas station convenience store sector generates approximately £4.5 billion in annual revenue. Loop’s latest agreement with Suresite represents its entry into the UK’s retail energy sectors, as part of wider business development efforts in the UK.

The changing trends of forecourt retail

Suresite’s UK data of card payment transactions and spend shows that in the last 12 months, there has been less demand for fuel with people unable to travel due to local and national lockdowns. Yet these travel restrictions have also led to a growth in non-fuel retail with customers choosing to carry out their grocery shopping locally at nearby fuel stations, looking to fulfil multiple purposes in a single trip with an increased appetite for cashless transactions. With the constantly changing trends and challenges brought by the pandemic, data insights are now more important for forecourt retail than ever.

Loop’s Fobi is an IoT device working with an AI-powered retail analytics platform that allows retailers unprecedented access to real-time transaction data from any point-of-sale (POS) – online, in-store, and across multiple properties.

During the PoC, Loop Insights will implement its Fobi device and Insights AI-powered analytics platform across numerous Suresite client locations. This will provide Suresite, and more importantly, its clients who operate leading fuel and convenience brands, with powerful, actionable data capabilities needed to deliver informed loyalty experience and drive operational efficiencies. Suresite’s forecourt client market currently includes major brands such as Harvest Energy (HPF:TSX), Gulf (GULF:BKK), Jet, and others.

“Through services such as our real-time, data-driven fuel monitoring solution, Suresite understands that retailers need data to be delivered in real-time to be able to maximise revenue and wallet-share. For the retailer, it’s about understanding the shopping basket breakdown item by item, who made the purchase, and how. Or having the ability to see how a special promotion is performing in real time so adjustments can be made if needed. This is why Suresite has partnered with Loop Insights, to help our clients improve their business decisions based on real-time, actionable insights,” explains Eva Jones, Head of Product Development and Innovation at Suresite.

Loop Insights CEO Rob Anson stated: “Our latest Proof of Concept agreement with Suresite is additional proof that our Fobi device combined with our AI-powered Insights platform serves an immediate, data driven need in the convenience and fuel sectors. Recent announcements with Sobeys in grocery, and now Suresite in convenience and fuel – two of the largest retail sectors in the world – serve notice that Loop and its solutions are fit-for-purpose in today’s data-first world. We anticipate this PoC will be another massive success for both Loop and Suresite as we continue to demonstrate the power of Loop’s Insights platform no matter the industry or country.”

Suresite CEO Steve Hoban added: “We understand the power of insight to help our clients improve their offer, sales and profit. We are excited to partner with Loop and are looking forward to the results of our trials. Our aim is to continue to add value to our clients and be able to enrich our data to provide them with insights that help them grow.”

This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management. https://agoracom.com/ir/LoopInsights.

About Suresite Group
Established over 25 years ago, Suresite Group provides a range of business critical operational services for Fuel and Convenience Retailers. Suresite market leading Payment and data solutions, Wetstock management, Training and Health & Safety compliance help over 3,000 stores across the UK run businesses more effectively. Suresite Group customers and partners include Barclays, Worldpay, Timico, Feefo, American Express, Sponge, Greenergy, Cost Cutter, Jet, and others.

For more information, please contact:
Klara Horvathova
Luminous PR
07597 798281
klara@luminouspr.com

About Loop Insights

Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, venue tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.

 

Loop Insights Inc.

Investor Relations
T: +1 877-754-5336 Ext. 4
LOOP Website: www.loopinsights.ai
Facebook: @LoopInsights
Twitter: @LoopInsights
LinkedIn: @LoopInsights Cautionary Disclaimers

 

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Notice Regarding Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Transaction; post-closing objectives of Loop for acquired assets; the expectation of additional revenues to Loop post-closing; the expectation that Loop will be able to successfully integrate the acquired assets; that the Acquisition may position Loop for future growth; and that the vendors will assist Loop with the transition of operations post-closing. There are numerous risks and uncertainties that could cause actual results and Loop’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) COVID-19 risks; (ii) difficulties and delays associated with integrating and growing the acquired assets post-closing; (iii) risks inherent in the technology and AI industries in general; (iv) other factors beyond the control of the Company; and (v) risks outlined in Loop’s publicly filed documents available on SEDAR. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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