The Rise and Significance of Retail Media in Today’s Market
Retail media has rapidly evolved into a crucial segment within the advertising landscape as brands and retailers strive to engage and understand their customer base more effectively. According to recent data from eMarketer, the value of the U.S. retail media market is expected to hit an impressive $62.35 billion this year, with a growth rate projected to exceed 17% annually through 2028.
Innovative Solutions from DISPL
Leading the charge in retail media innovation is DISPL, a Cyprus-based startup leveraging artificial intelligence to enhance audience analytics and digital signage. Within just 2.5 years since its inception, DISPL has successfully raised over $2 million, establishing a formidable team that includes experienced professionals from notable companies such as Avaya and Jivo. Last year, DISPL made headlines by representing Cyprus at the prestigious Startup World Cup 2024 finals in San Francisco.
The Visionary Behind DISPL
At the helm of DISPL is Co-founder and CEO Serge Gale, a serial entrepreneur whose journey has been marked by tenacity and evolution. Over nearly a decade, he has pivoted five times to refine DISPL’s focus, initially inspired by concepts from the 2002 film Minority Report directed by Steven Spielberg. One particular scene featuring a holographic salesperson sparked Gale’s imagination to develop AI-driven retail solutions that could revolutionize customer interactions.
Forming Strategic Partnerships
Gale’s collaboration with co-founder Alex Rekish began in 2012 during their tenure at an outsourcing development studio founded by Gale. Subsequently, in 2016, Lina Fleitman joined as Chief Revenue Officer, bringing a wealth of industry experience from her time at Avaya.
Transforming In-Store Retail Media
DISPL has transitioned its focus to creating a cutting-edge platform that drives retail media in physical stores. In Gale’s words, “We help retailers, brands, and distributors unlock new revenue streams by monetizing physical spaces—making offline marketing measurable and seamlessly connected to digital.” This innovative platform gathers real-time insights into customer demographics and behavior, enabling retailers to decipher foot traffic patterns, optimize employee performance, and deliver personalized in-store marketing experiences.
Prioritizing Ethical AI Practices
As DISPL forges ahead with its solutions, the company emphasizes its unwavering commitment to ethical AI deployment. With a pledge to uphold global data protection standards, Gale highlights that DISPL does not engage in personal data storage or facial recognition, reinforcing its dedication to privacy.
Global Strategic Expansion and Partnerships
To enhance its presence worldwide, DISPL has strategically established partnerships across various regions. Notable among these is its collaboration with Brazil’s GlobalTera, aiming to transform the Brazilian retail landscape with AI technology. GlobalTera, part of GT Holding, focuses on delivering technology solutions to gas stations and supermarkets.
Impressive Market Impact
Bruno Lyra, the founder of GlobalTera, remarked on the transformative potential of DISPL’s technology, stating, “The ability to track visitor traffic was a game-changer. This type of technology is rare in Brazil, and when we show it to clients, they’re immediately intrigued. DISPL’s blend of digital signage and analytics was precisely what we needed.” This partnership has already started to reshape the traditional Brazilian retail sector by enhancing customer analysis—an area often overlooked by retailers.
Setting Sight on North America
In addition to Brazil, DISPL has set its sights on expanding throughout South America while laying the groundwork for an extensive entry into the North American market. Gale noted, “We are aggressively scaling across Latin America and also preparing for major expansion in North America.” Noteworthy clients include PriceSmart, a prominent membership warehouse club, and several outlets within Mexico’s Chedraui and Walmart, where DISPL’s technology is optimizing marketing strategies and analyzing efficacy.
Empowering Brands with Advanced Analytics
Across multiple deployments, DISPL has enhanced brand spaces and merchandise displays using AI-driven insights. Gale confidently states, “Achieving these results is a strategic leap for us, and we’re just getting started.” Notably, the technology is already integrated into leading car dealerships and electronic retailers, with many implementations governed by stringent non-disclosure agreements (NDAs).
Targeting the U.S. Retail Media Landscape
As the U.S. retail media advertising market is projected to escalate to a staggering $98 billion by 2028, DISPL is aiming to capture a significant portion of this lucrative sector. The firm operates globally, across the Americas, Europe, and Southeast Asia, delivering innovative solutions that help retailers tap into fresh revenue streams.
Choosing Cyprus as a Launchpad
DISPL’s decision to launch from Cyprus was strategic due to the nation’s favorable business environment, which includes a competitive 15% corporate tax rate, membership in the European Union, and strong intellectual property incentives. Gale highlights the importance of their investor, ASBIS Corporate Venture Capital, which supports DISPL with resources and services tailored to tech companies.
Considering Relocation to the U.S.
As DISPL’s ambitions grow, Gale is contemplating the prospect of relocating the company’s headquarters to Los Angeles. This strategy could provide closer proximity to a wealth of potential partners, investors, and tech hubs crucial for growth. He remarked, “The U.S. presents a dynamic ecosystem for tech growth, particularly in California, which has a vibrant landscape in media, retail, and AI—core components relevant to our product.” Establishing a base in Los Angeles would bolster DISPL’s visibility and facilitate fundraising opportunities with global venture capitalists.
Expanding Reach with Digital Signage Technology
Currently, DISPL operates over 3,500 touchpoints worldwide, collaborating with brands like Kotsovolos in Greece, Domino’s Pizza, and Indomaret in Asia, among others. Their diverse offerings include digital signage that enables customers to engage through omni-channel experiences, such as scanning products with mobile devices to access detailed reviews, promotional videos, and special offers.
Enhancing Customer Engagement
Such interactive features not only amplify customer engagement but significantly increase the likelihood of purchases—reportedly by as much as 25%. DISPL’s mission is clear: to empower businesses to operate more intelligently and efficiently through the integration of AI technology in retail.
Future Innovations: Autonomous Retail Environments
DISPL is actively developing an AI-powered analytics agent designed to streamline and enhance marketing at point-of-sale locations. This advancement will help retailers better comprehend foot traffic dynamics, assess employee performance, and monetize retail media effectively. Gale asserts, “Each point-of-sale operates like an individual website where traditional marketing experiments can be both costly and complex.”
A Game-Changing Marketing Approach
This innovative AI agent will automate complex marketing processes, allowing retail chains to manage extensive networks of stores across different countries using a single marketing team. Gale envisions making DISPL the equivalent of “Google Ads for physical spaces,” continuously enhancing the platform’s offerings to ensure providers view it as the go-to solution for all offline marketing needs.