Pricer AB (publ) announces that Canadian Tire Dealer Association, CTDA, a dealer network of approximately 500 stores across Canada, have signed a Master Framework Agreement with Pricer as their exclusive supplier for Electronic Shelf Label (ESL) systems. The first order under this agreement amounts to about SEK 100 million, corresponding to an infrastructure order for all stores in the chain to be called off as installations are carried out over the next year, along with 38 stores partially or in full to be installed with the complete Pricer system before end of Q1 2021.
The selection of Pricer is the result of a 2-year competitive ESL system evaluation focused on price and promotion communication as well as store digitalization. After the infrastructure installations, there are no minimum quantities or amounts indicated in the Master Agreement and the continuous progress of store-by-store investment decisions will be reported as part of Pricer's order intake and net sales as they occur. Dealers in the CTDA network are free to decide on the scope of the investment under the agreed terms and conditions, which will result in a wide range of order value per store. The value for a full store installation is estimated to roughly SEK 3 million on average.
Known for its big box retail mix including automotive, sporting goods, general merchandise and garden as well as its successful operational model, CTDA is looking to compete more aggressively by supporting their dealers to manage the stores more efficiently and empower their employees more effectively to improve customer service, as well as to offer shoppers a synchronized and smooth omnichannel experience.
Following extensive pilot programs, CTDA selected Pricer's infra-red ESL technology and its market leading range of fully graphic three-color ESLs for scaled deployment across Canada. Pricer's leading Canadian partner, JRTech Solutions, will provide its innovative shelf rail system and other attachments, as well as additional professional services to support CTDA.
"Our dealers were asking for price automation to support their operations," says Neil Maizen, Executive Vice President and Chief Information officer at CTDA. "And given our wide geographic footprint and large format, we needed to carefully look at the ESL vendors and their abilities to scale to that. Pricer was chosen based on its reliability, robustness and communication speed as well as its low power capabilities."
"To compete at the leading edge, retailers need real-time reactivity across the entire chain," says Charles Jackson, Head of Americas region. "With Pricer, CTDA will be able to make faster decisions while delivering a better experience to both employees and customers."
"We are delighted to have been selected as exclusive ESL supplier by this leading Canadian retailer" says Helena Holmgren, CEO, Pricer. "We look forward to a highly successful series of deployments across Canada supporting the CTDA network with advanced store digitalization solutions for years to come."
For further information, please contact:
Donald Charles Jackson, Head of Americas region, +1 404 863-2399
Helena Holmgren, President and CEO, +46 702 870 068
Susanne Andersson, CFO, +46 730 668 904
This information is information that Pricer AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.30 am CET on July 30, 2020.
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
Pricer AB is a global leader in providing in-store digital shelf-edge solutions that enhance both store performance and the shopping experience. The increasingly feature-rich Pricer platform is fast, robust, interconnectable and scalable. Pricer was founded in Sweden in 1991 and is listed on NASDAQ Stockholm. For further information, please visit www.pricer.com
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