Start-ups in retail technology are growing and Retail Week is highlighting some of the best. This week SyncSpot is in the spotlight.
SyncSpot is a mobile platform that builds customer loyalty by offering shoppers exclusive rewards for purchasing products in-store. Chief executive Jubair Jalil explains more.
Key facts
Founded 2015
Investment £100,000 from investors including start-up accelerator Collider
Retail partners SyncSpot partnerships are under NDA but clients include “a globally recognised chain of toy stores.”
Founders Jubair Jalil and Mohammed Jalil
What it does
SyncSpot is a mobile platform that rewards customers with access to premium or exclusive rewards whenever they shop in-store.
Designed to drive footfall for retailers, the start-up sends push notifications to a shopper’s smartphone to inform them of exclusive in-store rewards.
Shoppers are then sent directions to the retailer’s nearest shop and can claim their promotion in-store when making a purchase.
SyncSpot captures data on the shopper based on their rewards and purchases and retargets the customer with new offers based on their preferences and proximity to retail stores.
The start-up also tracks how a retailer’s rewards campaign is performing in real-time.
What problem it solves
SyncSpot is designed to enable retailers to attract customers and build loyalty without discounting.
The start-up’s technology, which can be integrated into a retailer’s existing offer with or without an accompanying mobile app, uses social media to advertise offers and rewards to encourage shoppers to go to a retailer’s store.
Co-founder Jubair Jalil says “discounting can damage long-term brand value and undermines margins. Using SyncSpot, retailers can acquire customers and retarget them through rewards which build brand loyalty rather than relying on discounts.”
More information: www.syncspot.net
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