Retailers’ demand for AI-driven retail media platform more than doubles as focus turns to in-store shopper engagement
DALLAS - August 14, 2024 – Qsic, an AI-powered in-store audio retail media platform, today announced the company is significantly ramping up its presence in North America. On track for its strongest year to date, Qsic closed out Q2, reporting over 220% YoY growth, primarily driven by strong adoption across North America. Over the past year, the number of retail locations using its in-store audio retail media platform has tripled compared with the same period last year, with the majority located in the U.S. and Canada, with an increasing presence in Mexico.
Demand for its solution has steadily grown in tandem with an increasing focus on in-store advertising. In-store retail media is expected to grow at an accelerated rate through 2025, with spend poised to surpass $1 billion by 2028.
“Despite significant spend going into digital channels, 85% of U.S. retail sales still occur in-store,” said Matt Elsley, Co-founder and CEO at Qsic. “In-store advertising puts a brand in front of high-intent shoppers at the point of sale to drive higher conversions and sales. The challenge for in-store advertising has always been infrastructure and scale, and we’ve been able to address both with our advanced audio technology. Our seamless in-store setup and proprietary AI enable personalized, data-driven experiences that not only enhance customer engagement but also maximize advertising impact."
Qsic is at the forefront of AI and in-store retail media. The company developed a proprietary generative AI model, Lucy, for the creation of custom audio ad content at-scale, including on-demand voiceovers. Lucy dynamically creates and localizes ad content in real-time, leveraging retailer data to include details like local pricing, inventory and weather conditions.
To support its continued expansion across North America, Qsic recently opened a new office in Dallas that will be the home base for CEO Matt Elsley to support new business growth. Additionally, the company significantly ramped up hiring over the past year. Qsic nearly doubled its workforce, adding new positions across engineering, product, operations and sales teams to continue driving innovation and providing support for the rapidly expanding number of locations leveraging its platform.
Its rapid growth has been underpinned by several industry awards. Recently, Lachlan Gow, President of Qsic who spearheads Qsic’s North American expansion plans, was recognized as one of Path to Purchase Institute’s 40 Under 40 for his outstanding leadership and strong track record.
To learn more about Qsic technologies, please visit www.getqsic.com.
About Qsic
Qsic is one of the world’s first commercial music streaming platforms, influencing over 100 million shoppers at the point of purchase monthly. In addition to helping businesses establish and own their brand sound, the company also helps retailers to activate their Retail Media Networks by setting up, running and commercializing their audio assets. This extends from music curation, ad production and collateral to ad sales and price evaluation. Qsic has invested heavily in developing a patented method of measuring the impact of audio advertising on real-world in-store transactions. It is now a leading provider of AI technology that strategically leverages the power of audio to deliver better customer and sales experiences. To learn more, visit www.getqsic.com.
Media Contact for Qsic:
SamsonPR
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