Big picture - Why invest in ATTRAQT Group plc
ATTRAQT Group plc Snapshot
ATTRAQT exists to enable retailers to create better, personalized online shopping experiences.
Retailers including Tesco Clothes, Boohoo.com and Superdry rely on ATTRAQT to power their online visual merchandising, recommendations and search functionality.
As a leading online merchandising provider serving more than one hundred customers in the USA, Europe and Asia, ATTRAQT is the most advanced behavioural and search driven merchandising technology available.
Uniquely, ATTRAQT provides the complete range of visual merchandising disciplines on a single platform, providing a dynamic, robust and scalable SaaS based merchandising solution that delivers increased online revenue and reduced costs.
ATTRAQT was formerly known as Locayta.
ATTRAQT has offices in the UK and the USA.
The Group is a cloud-based SaaS supplier focused on providing a merchandising platform to online retailers. In reaction to a structural shift in consumer behaviour where an increasingly larger proportion of sales are transacted online, the Group provides a merchandising platform for online retailers that helps to drive online sales growth.
The Group’s SaaS platform, Freestyle Merchandising, focuses on maximising conversion rates by enabling retailers to have control over how products are merchandised on their eCommerce sites. Freestyle Merchandising acts as an overlay to a retailer’s eCommerce site and works to enhance the customer’s experience as well as the sales performance of the site through:
- superior site search;
- product recommendations and personalisation;
- visual merchandising functionality.
The Group can provide these three key product offerings within a single integrated platform that the Directors believe is quick and easy to implement and which aims to provide all the merchandising functionality a retailer could want from one platform.
After over ten years of investment and technical development, the Group has a configurable SaaS platform, a respected reputation in the market and a scalable sales model with a short sales cycle. Its large UK retail customers include Tesco Clothing, Boohoo.com, Superdry, Laura Ashley, Emma Bridgewater, Ellis Brigham, Paperchase, Screwfix, T.K. Maxx, BBC Worldwide, BT and more, which the Directors believe to be a strong endorsement of the Group’s technology.
The Art of Merchandising
The way products are displayed online can increase sales by over 500%*. The unique flexibility of ATTRAQT allows visual merchandisers to fully exploit their skills online, controlling the look and feel of the site in an instant. Retailers using ATTRAQT can inspire shoppers, respond to trends and drive sales more effectively than ever before.
Usability studies show that customers are more likely to buy products prioritised in product displays. With ATTRAQT FreeStyle Merchandising, retailers can select what will determine product placement including newness to site, stock levels, popularity and profit margin.
Choose to save time and effort with data-driven automatic options, utilising A/B testing and multivariate analysis or take control and get to grips with stats using the complete manual functionality.
Product Display. Balanced.
ATTRAQT’s unique Balance Factor feature fine-tunes display by going beyond the simple dimensions of category, price and colour. Balance Factor acts as a display sequencing ‘graphic equalizer’, where a near-infinite variety of drivers, including newness to site, popularity and profit margin, can be applied using simple sliders on a single dashboard.
Merchandisers can drive conversion rates by combining behavioural metrics, such as views and previous purchases with stock levels, margins and promotions. This multi-metric fine-tuning capability means even the subtlest of variations can maximize sales.
Brand Adjacency. Sorted.
Managing a multi-brand environment brings complex issues for brand placement. For example, a low-value brand with youth appeal appearing next to a prestige label for a mature audience could affect the perception of both brands.
ATTRAQT’s Balance Factor allows merchandisers to set rules controlling where brands appear. This level of control ensures more accurate audience targeting, and ultimately better relationships with the brand owners themselves.
ATTRAQT recognises that search technology is more than just finding the right product at the right time. The sophisticated Freestyle Merchandising platform gives online retailers the advantage of being able to learn from customer behaviour and adjust search results accordingly to drive sales opportunities.
The sophisticated Freestyle Merchandising platform goes beyond black box technology by using sophisticated algorithms to optimise and override automated search results to return the best product selection for your customer.
The Last Word in Predictive Search
As anyone with a phone can testify, predictive typing technology can have its limitations. ATTRAQT optimises auto-complete in two ways: firstly predictive search tailors the search for the product vocabulary of your site and product catalogue and then suggestions are constantly refined from search terms of previous users.
Misspelling + Mistyping = Missed Sales Opportunities
Online merchandisers using dictionary-based search tools can lose customers at the first hurdle if queries are misspelled. Up to 50% of search queries may be ‘misspelled’ but often the issue is not misspelling, but mistyping. ATTRAQT spell correction uses two combined algorithms to predict both misspelling and mistyping in relation to your tailored product database, resulting in fewer lost potential buyers.
When shopping with a specific item in mind, a customer’s first port of call is the search bar. ATTRAQT Search is highly flexible, allowing users to search via any desired search term, not just category, brand, size, colour and manufacturer. The retailer can then optimise searches and individual terms using Balance Factor to highlight new, high margin or popular products.
This results in a slicker, more effective user experience that ultimately leads to increased conversion rates and higher average order values.
The Power of Suggestion
Offering personalised product suggestions can help retailers increase revenue by up to 300%. ATTRAQT Freestyle Merchandising combines behavourial algorithms using a rules engine to provide relevant product recommendations in real time.
ATTRAQT creates a hierarchy of weighted relevance for every user action, ‘Searched for’, ‘Viewed’, ‘Added to Basket’ and ‘Checked Out’ ensuring recommendations are timely and personalised.
Shop for Accessories
The Accessories Algorithm accurately matches products from your database throughout the user journey and can dynamically adapt as the user creates new searches and adds new products to their basket.
Dan Wagner, Co-Founder and Non-Executive Chairman
Dan is a British internet entrepreneur and businessman who founded M.A.I.D. plc (Market Analysis
Information Database) in 1984. M.A.I.D. was listed on the London Stock Exchange in 1994 and on NASDAQ the following year.
Dan was chosen by the World Economic Forum as a Global Leader of Tomorrow in 1997 and awarded the Ernst and Young Entrepreneur of the Year Award in 1998.
After the sale of M.A.I.D. in early 2000 to Thomson Reuters for $330 million, Dan founded Venda Limited (an “on demand” eCommerce provider) in 2001 and then ATTRAQT Limited in 2003.
Most recently, Dan set up Powa Technologies Limited, a mobile eCommerce and retail point of sale platform for brands and merchants in which he has the role of chairman and chief executive officer.
Ivor Dunbar, Non-Executive Deputy Chairman
Ivor is the chairman of Project Trust. He lives in London and is a non-executive director of Powa Technologies Limited (a financial technology company) and Bluefield Harrier Limited (a solar power company).
Educated at Inverness Royal Academy and University College of Wales in Aberystwyth, Ivor has spent most of his professional career as an investment banker with Barclays de Zoete Wedd and until recently with Deutsche Bank.
Ivor is a capital markets specialist and at Deutsche Bank he was head of global capital markets, co-head of investment banking and a member of the executive committee of Deutsche Bank’s corporate and investment banking division.
André Brown, Co-founder and Chief Executive Officer
André, the co-founder and chief executive officer of the Company, has over 25 years’ experience in
developing innovative technologies. He has been instrumental in the development of the Group and has helped to grow its customer base from zero to a list of well-known names in the retail arena.
Previous positions include group mergers & acquisitions director for Nettec plc, strategic alliances director for MAID plc, chief executive officer of the eCommerce division of Dialog plc and one of the leaders of the team that originally brought Adobe Acrobat to the UK marketplace.
André holds a BSc. in economics from the London School of Economics and qualifications in corporate finance and marketing innovative technologies from the London Business School and Harvard Business School, respectively.
David Stirling, Finance Director
David is an experienced chief financial officer with a successful track record in charge of finance for several entrepreneurial businesses, mainly in the technology sector, including roles as finance director of two AIM listed companies (Haemocell plc and Brightview plc). He has been the chief financial officer of Bright Station Ventures since 2011. He has handled fund raising, corporate restructuring and M&A work. In the last 10 years, he has also been finance director of two private equity funded, eCommerce businesses which both exited in trade sales. David has been an investor in the Company since 2013.
His previous experience includes 10 years as a management consultant with Coopers & Lybrand and various finance related interim management positions. David has an honours degree in commerce from Heriot Watt University and is a fellow of the Chartered Institute of Management Accountants.
Edward Ewing, Independent Non-Executive Director
In a career spanning three decades, Ed has worked extensively as a senior executive in the technology, media and telecommunications sectors in management, sales and product/service development roles.
Previous international roles have included working for Apple in Europe, strategic planning and programme director for Scoot.com plc and managing operations in Northern Europe for Quark Inc. He was responsible for establishing the digital division for global publisher Boat International Media, including successfully launching boatinternational.com and establishing it as one of the leading online market place for pre-owned superyachts.
Along with advising a number of clients on strategy and business development, Ed has a portfolio of
companies based in North Norfolk, and most recently he was instrumental in raising over £750,000 in funding from the Heritage Lottery Fund and English Heritage to help secure the future of one of the UK’s youngest ancient monuments.
Robert Fenner, Non-Executive Director
Robert is a partner in the international law firm Taylor Wessing LLP and has been a solicitor for 24 years. He is a corporate lawyer specialising in advising companies on all aspects of corporate law including listings and mergers and acquisitions.
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