NEW YORK, April 20, 2018 /PRNewswire/ --
According to data provided by Orbis Research, the Global Loyalty Management Market has been valued at USD 1.94 billion in 2016 and is projected to reach USD 7.305 billion by the end of 2022, while growing at a CAGR of 24.73% during the forecast period 2017-2022. Loyalty Management Programs are intended to reward clienteles for their past purchases and to offer them with motivations for making future purchases. The report also indicates that a rewards program enables cross-selling, retention and improved customer penetration along with providing strong value offer to the customer. Snipp Interactive Inc. (OTC: SNIPF), Points International Ltd. (NASDAQ: PCOM), Aimia Inc. (OTC: GAPFF), Office Depot, Inc. (NASDAQ: ODP), Ominto, Inc. (NASDAQ: OMNT)
Recent technological trends are crucial factors for the development of loyalty managements programs. Persistence Market Research explained, "Proliferation of mobile technologies, increased focus on customer experience management, increased usage of digital cards drive the Loyalty Management market. Proliferation of mobile technologies needs real-time loyalty program which can be accessed through mobile devices rather than physical presence of customer. Enterprises are more inclined towards customer experience management to provide specific products based on customer requirement, the loyalty program software helps enterprises to get customer feedback on different programs and ultimately that leads to offer better solution/program to customers."
Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Earlier this week the company announced that it, "has signed a new MSA with a global household and personal care products consumer goods company and the first Statements of Service worth C$860,000+ pursuant to the MSA. The MSA and C$860,000+ contract were the result of the Company winning a competitive bid to continue to provide services in 2018 for this client in the US and Canada. Snipp has been working with this client since 2016 and is delighted that it was selected to continue the relationship for a third year in a row. The new contract covers a single Q4'2018 promotion and the MSA will cover a period of one year.
The Company is also pleased to announce the closing of its final tranche ("Final Tranche") of the non-brokered private placement (the "Financing"), previously announced on April 5, 2018. The Final Tranche was comprised of 10,000,000 common shares at a price of CAD $0.10 per share, for gross proceeds of CAD $1 million of which 59% was from insiders. The Company also closed an over-allotment (the "Over-Allotment") to the Financing comprised of 2,916,667 common shares at a price of CAD $0.12 per share, for gross proceeds of CAD $350,000. The four-month hold period for all shares issued under the Final Tranche and Over-Allotment will expire on August 19, 2018 in accordance with Canadian securities laws. Finder's fees were paid to an agent in connection with the Final Tranche and Over-Allotment and consisted of commission of CAD$36,000 and 337,000 warrants ("Finder's Warrants"), with 222,000 Finder's Warrants having an exercise price of CAD$0.10 and 115,000 Finder's Warrants having an exercise price of CAD$0.12. Each Finder's Warrant entitles the holder to purchase one common share at the applicable exercise price for a period of 2 years from the date of distribution."
"Winning a competitive bid is always a great testament to the relevance of our technology and the uniqueness of the services we provide to our clients. We are grateful for the opportunity to continue our relationship with this client," commented Atul Sabharwal, CEO and founder of Snipp. "In addition, with the closing of our over-subscribed financing we are now in a great position to continue to innovate and disrupt in our existing markets, while also dedicating resources to the new markets we have recently entered, such as Hospitality and Cannabis. In the Cannabis market in particular, we have seen a tremendous response from an exceptionally wide range of companies. This became obvious after just a few weeks of signups for our Cannabis Marketing Resource Center (CMRC). Participating companies have ranged from large established traditional retailers such as Loblaws and media giants like the Globe & Mail, to a diverse assortment of private and public players of all sizes in the US & Canada. Interest in our CMRC has been across the entire Cannabis ecosystem, signaling that there is clearly a need for our expertise. Based on this response, we are excited to invest in and leverage our capabilities to help companies in this emerging space."
Points International Ltd. (NASDAQ: PCOM) provides loyalty e-commerce and technology solutions to the world's top brands to power innovative services that drive increased loyalty program revenue and member engagement. The company has a growing network of nearly 60 global loyalty programs integrated into its unique Loyalty Commerce Platform. Points offers three core private or co-branded services: its Loyalty Currency Retailing service, which retails loyalty points and miles directly to consumers; its Platform Partners service, which offers developers transactional access to dozens of loyalty programs and hundreds of millions of members via a package of APIs; and its Points Travel service, which helps loyalty programs increase revenue from hotel bookings, while enabling members to more effectively earn and redeem loyalty rewards. Recently, the company has engaged Liolios Group to lead a new strategic investor relations and financial communications program. Liolios will work closely with management to develop and execute a comprehensive capital markets strategy, which will include messaging and corporate positioning, strategic advisory and introductions to new investors and key influencers across the financial community.
Aimia Inc. (OTC: GAPFF) data-driven marketing and loyalty analytics provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers. In February, the company reported its financial results for the quarter ended December 31, 2017. Gross Billings were down 13.7% (or $66.3 million) to $418.6 million in the quarter, the decline being almost entirely due to the disposal of the U.S. Channel & Employee Loyalty and New Zealand rewards fulfilment businesses and the Canadian Air Miles trademark, as well as the impact of net revenue accounting treatment in the Coalitions business. Insights and Loyalty Solutions Gross Billings were up $2.3 million (or $4.4 million on a constant currency basis) to $74.8 million. Gross Billings from Loyalty Units were up 3.4% on a constant currency basis. Higher rewards fulfilment and recurring loyalty platforms billings drove the increase in Gross Billings from Loyalty Services.
Office Depot, Inc. (NASDAQ: ODP) is a leading global provider of products, services, and solutions for every workplace. Last year, the company announced a new loyalty program to save customers money with expanded benefits, "Office Depot OfficeMax Rewards Everything". The program has been updated to ensure every member is rewarded, and by creating a VIP tier, gives members even more savings while delivering an exclusive experience. With no minimum thresholds for redeeming reward dollars, members can access and use their available rewards any time at any Office Depot and OfficeMax stores. Customers who spend more, such as small businesses, can take advantage of "Office Depot OfficeMax Rewards Everything's" VIP Tier. After spending $500 within a year, VIP members will receive free delivery with no minimum purchase and earn 5 percent back on ink, toner, paper, printing and copying services for 12 months. VIP Members also receive exclusive perks such as special promotions, a birthday offer and free product samples or services.
Ominto, Inc. (NASDAQ: OMNT) is a pioneer in global Cash Back and first to market in many regions of the world. At the core of Ominto's business is Dubli.com, a global consumer Cash Back e-commerce digital marketplace. At Dubli.com or at Partner sites powered by Ominto.com, consumers shop at their favorite stores, save with the best coupons and deals, and earn Cash Back with each purchase. Earlier this month, the company announced several new product and feature enhancements to its Dubli.com Cash Back shopping website. Recently, Dubli.com hosted their annual international two-day Dubli Summit 2018, in Dubai, with attendees from more than 30 countries where they announced several new initiatives to innovate, grow and adapt to the new realities within the currently changing e-commerce industry.
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