Shopper Intelligence Platform Basket to be Acquired

Real-time data analytics provider Fobi has signed a deal to buy assets related to grocery store price comparison app and shopper intelligence platform Basket, from tech company Grocery Shopping Labs Inc. Terms of the deal have not been disclosed.

US-based Basket comprises a shopper and pricing app, along with a data intelligence platform built specifically for retailers and CPG manufacturers who are looking to understand their product performance, as well as to develop their own first-party data strategies. Consumers can use it to search for and scan the barcodes of their favorite products to create smart grocery lists, then Basket compares prices for products across all various local stores, online eCommerce shops and delivery companies, and also compares the cost of the entire basket across all local, online eCommerce shops, or delivery companies.

According to Fobi, the acquisition will provide it with a combined offering of price, consumer packaged goods manufacturer promotions, shopper and retail insights, along with transactional data and measurement. Fobi says that synergies between Basket and its own 'Qples by Fobi' grocery coupon network (GCN) will drive increased advertising revenue and higher average revenue per user (ARPU) with coupons and promotions. Basket is already working with CPG brands and retailers to provide shopper insights which it says will help Fobi better target these brands with the complete suite of Fobi offerings, including wallet passes.

Fobi CEO Rob Anson says that the two firms' combined AI and big data capabilities will enable personalized marketing at scale with 'valuable insights' relating to campaign performance and measurement for retailers. Grocery Shopping Labs CEO Neil Kataria adds: 'Basket has always been about taking the blindfold off shoppers to help them save money and time, and simultaneously providing shopper insights to some of the top CPG brands and retailers. Now, together with Fobi we can significantly grow our audience, delivering more value for shoppers and more value for the CPG brands we work with.'

Web sites: www.fobi.ai and www.basket.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.