Smartpay acquires shareholding in internet retail merchandising company

By NZPA

Wednesday 7th March 2007

Prepaid and POS solutions provider SmartPay Ltd has acquired a 33% shareholding in 'In-Store' multi media company, Retail Radio Ltd, in a strategic move to expand its retail business interests.

Retail Radio, a rapidly growing music and digital signage provider, delivers, via the internet, in-store promotional campaigns to a number of high profile retail chains

SmartPay chief executive Linc Burgess explained: "Retail Radio is viewed by these retailers as the key to creating in-store ambience which is totally consistent with the retailer brand and image, using creative marketing messages and campaigns that reach the shopper."

He described the stake as significant and complementary to SmartPay's existing business activities.

'"Smart Audio Merchandiser' (SAM) is the technology behind the business. It has the flexibility to provide each retailer chain or outlet with a unique "In-Store" radio station and digital signage service.

"We view this acquisition as a strategic step in the future of SmartPay, not only in New Zealand but globally too."

"There are lots of success stories from Retail Radio. The primary aim is to enable retailers to win market share, and improve profitability. Studies prove that delivering a message while the customer is in the store greatly increases sales." Burgess said.

"The time is right to aggressively sell the company's "point of difference" in the whole shopping experience, including the marketing and merchandising mix.

"Business has increased over 400% over the last 12 months. Retailers are now taking it a step further by using the medium as a continuing and growing profit centre by promoting suppliers' products and services.

"The concept is successful for a number of reasons. It talks to every customer. It's an additional salesperson which is very cost effective, works seven days a week, doesn't get sick, take holidays or contribute to shrinkage."

"We are offering customers a better shopping experience which is immediate, targeted and creative. For the retailer, there is brand reinforcement, national consistency and improved staff and shopper satisfaction," he explained.

Retail Radio guarantees compliance with all licencing that is required where music is being played in a public place, such as a retail environment.

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