Price comparison platform operator Frugl Group Limited (ASX:FGL) has signed an agreement for the provision of services with Metcash Trading Limited for focussed retail data analytics services generated through Frugl‘s technology platform for the Metcash Food division.
Metcash is Australia’s leading wholesale distribution and marketing company with sales of over $13 billion in FY20. It makes deliveries to more than 10,000 retail customers supported by distribution centres in each of the major cities, as well as smaller regional centres whilst also supplying around 90,000 wholesale customers from smaller branches across the country.
Under the terms of the Agreement, Metcashhas engaged Frugl for an initial term of approximately two years ending January 31, 2023. A further one-year option is available to Metcash under the terms of the agreement.
Frugl has agreed to provide key data and analytical information to Metcash Foodthrough the frugland InFocus Analyticsplatforms to enable intelligence-lead retail decision making.
The fees payable to Frugl for the data and analytical information under the Agreement are not financially material.
Managing Director, Sean Smith, said Frugl will seek to develop its relationship with Metcash with a view to expanding the scope of the services Frugl will provide, in which case the Company would release a further market update.
The agreement between Frugl and such a significant market player in Metcash reflects not only the quality of our retail data asset, but the expertise and understanding of the retail industry that we possess to further unlock business value from it,” Mr Smith said,
“We are looking forward to working with Metcash on many retail intelligence projects across their business in the years ahead.”