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Family Insights Group (ASX:FAM) completes retail data project with Pet Circle
Source: Glassdoor
  • Family Insights Group (FAM) has completed a retail data project with online pet supplies company, Pet Circle
  • This partnership marks the first commercialisation of Family Insights's price comparison app, Frugl, in providing pet-category pricing and ranging insights
  • Frugl allows customers to compare products and prices of goods between different supermarket retailers
  • It uses technology to collect data in real-time to provide shoppers with up-to-date specials, product and pricing information to find the lowest grocery prices across supermarkets
  • Now that this is completed, Family Insights will submit an additional project proposal to Pet Circle for potential ongoing work
  • Family Insights is up a healthy 19.2 per cent and shares are trading for 3.1 cents each

Family Insights Group (FAM) has completed a retail data project with online pet supplies company, Pet Circle.

Now that this is completed, Family Insights will submit an additional project proposal to Pet Circle for potential ongoing work.

This partnership marks the first commercialisation of Family Insights's price comparison app Frugl in providing pet-category pricing and ranging insights.

Frugl allows customers to compare products and prices of goods between different supermarket retailers.

It uses technology to collect data in real-time to provide shoppers with up-to-date specials, product and pricing information to find the lowest grocery prices across Australia's leading supermarkets.

Previously, Family Insights was in discussions with multiple companies for its technology but had to postpone them due to COVID-19.

These discussions have now restarted and Family Insights will update the market should a successful outcome be reached.

"With data acquisition activities having commenced in June last year, the company has now acquired over 12 months of grocery product and pricing data from Coles and Woolworths," CEO Sean Smith said.

"This plays critical importance in the commercialisation of the company's grocery pricing and promotional analytics capability as retailers and suppliers planning activities and pricing strategies are often structured based on year on year cycles," he added.

Family Insights is continuing to develop and improve its core analytics product, InFocus Analytics.

This product allows users to monitor and track price changes, and track promotional price changes.

Family Insights is up a healthy 19.2 per cent and shares are trading for 3.1 cents each at 12:55 pm AEST.


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