- Europe’s leader in crowdsourced in-store Data as a Service (DAAS) announces acquisition of UK operator, Task360, in a move to further consolidate the data-driven field marketing industry
- Market consolidation takes BeMyEye another step closer to providing a one-world-view of retail execution and promotion compliance demanded by its multinational blue chip customers
- News of the acquisition comes after BeMyEye announced $10.5M Series C Funding Round
BeMyEye, the European leader in crowdsourced in-store Data as a Service (DAAS), announced today the acquisition of leading UK provider, Task360, in a move that accelerates its vision to deliver a one-world-view of in-store retail execution and promotions compliance to its FMCG, Consumer Durables and Retail customers. This ambitious vision as further bolstered as they revealed 13 new markets had opened in 2017 alone, bringing the total markets in operation to 19, with strong indications that international expansion will continue aggressively in 2018.
The acquisition of Task360 will make BeMyEye the de facto reference point in the UK, arguably the most advanced market in Europe for data-driven field marketing, for manufacturers and retailers who need access to fast and actionable in-store insights. Furthermore, thanks to the acquisition, BeMyEye will access an additional crowd of 10k active ‘Taskers’, bringing a combined total crowd of 520k on-demand workers across Europe. BeMyEye will also welcome new customers through the acquisition, bringing the total number of customers to 460.
BeMyEye is taking retail execution to the next level by providing real-time in-store data about numerical distribution of products, weekend out of stock levels and promotional compliance. The data is analysed and packaged in the form of actionable insights that many of the biggest blue-chip brands in the world – including Mattel, Nestlé, Samsung, Heineken, Reckitt Benkiser, Lavazza and Ferrero – use to optimise their field force activity and perfect their go-to-market investments, worth $1 trillion every year in promotional activities alone.
Since inception, BeMyEye has collected over 2 million sets of data and images covering more than 650k stores, revealing the big challenges faced by manufacturers impacting revenues:
- Promotional compliance against joint business plans between manufacturers and retailers averages at a low 72%
- Weekend out of stock issues for popular products can be as high as 20%
- Numerical distribution of new products launched into the market seldom reaches 60%, against expectations of at least 80%
Luca Pagano, CEO of BeMyEye, comments, “In a few years’ time there will be two or three global suppliers who can meet the demands of multinational blue chip companies for a single view of their in-store execution globally, and BeMyEye will be one of them.” Pagano continues, “The team at Task360 demonstrated a shared vision to take the world of in-store DAAS to the next level. This, combined with their product offering and a very active crowd, made it an obvious opportunity to accelerate our growth strategy.”
Chris Pearson, Co-Founder of Task360 and now joining BeMyEye as VP Sales UK & Ireland, comments, “Having started a traditional field marketing business in the 90s I’ve seen data collection evolve from traditional field-based staff to crowdsourcing via smartphone apps. Joining the European leaders in this field, BeMyEye, was an easy decision as it means that we can build on our own mobile crowdsourced successes, to reach out to even more companies and brands on a multi-national scale, with a company that has a shared passion for quick, granular and quality in-store data collection.”
This news comes after BeMyEye’s acquisition of the largest French competitor, LocalEyes, in 2016, and strategic partnership announcement with the leading USA supplier, Quri, in 2017.