- Stratacache announced the acquisition of the LIFT Network from Verifone.
LIFT is an interactive digital upsell platform at convenience store (C-Store) retailers nationwide. LIFT will roll up to PRN, Stratacache's flagship retail media company.
The LIFT technology enables a seamless upsell opportunity at the point of sale with measurable ROI. It links basket information, shopper behavior and cashier performance to deliver tested "plus one" sales. A touchscreen at checkout displays relevant offers based on real-time transaction data, allowing C-Store retailers to sell additional items to every shopper, personalize the customer experience with redeemable promotions, drive brand activation and maximize cashier performance. Results demonstrate an ability to grow sales by 9% to 65%. Today, LIFT has 3500+ screens that deliver 64MM+ monthly impressions at Sunoco APlus, Global Partners LP, G&M Oil, Ricker's, and other leading C-Store retailers.
"The LIFT Network provides an outstanding opportunity to further evolve the digital shopper marketing experience in store," said Chris Riegel, CEO of STRATACACHE. "This targeted upsell platform allows us to further grow our reach into the consumer's path to purchase while positively impacting sales and gathering key customer insights at retail. With this acquisition from Verifone and the enhancements provided by our artificial intelligence, predictive analytics, and mobile analytics capabilities, Stratacache (PRN) can take this network to the next level."
"LIFT gives us a powerful upsell tool in our stores. It integrates easily with our POS system, interacts with every customer to market an extra item, and coaches our associates in real-time to upsell," said Jim Cox, Retail Development Manager at CITGO Petroleum Corporation. "It also provides actionable data that helps our team better understand basket information and cashier performance."
