Qsic, a leading AI-powered in-store audio retail media platform, has announced a substantial increase in its operations across North America. The company’s performance in the second quarter has been exceptional, with a remarkable year-over-year growth rate exceeding 220%, primarily fueled by widespread adoption in the North American market.
The number of retail establishments utilizing Qsic’s in-store audio retail media platform has tripled in the past year, with a significant concentration in the United States and Canada, alongside a growing presence in Mexico.
The demand for Qsic’s innovative solution has been steadily rising in tandem with a growing focus on in-store advertising. Projections indicate a swift growth trajectory for in-store retail media, with expenditures projected to surpass $1 billion by 2028.
Matt Elsley, the Co-founder and CEO of Qsic, emphasized the enduring importance of in-store advertising, noting that despite significant investments in digital channels, a substantial 85% of retail sales in the United States still occur in physical stores. In-store advertising provides brands with a unique opportunity to engage with high-intent shoppers at the point of sale, driving increased conversions and sales. Qsic has effectively addressed the challenges of in-store advertising by leveraging advanced audio technology to offer a seamless setup and utilizing proprietary AI to deliver personalized, data-driven experiences that enhance customer engagement and maximize advertising impact.
At the forefront of AI in the in-store retail media sector, Qsic has developed a proprietary generative AI model named Lucy, designed for the creation of custom audio ad content at scale, including on-demand voiceovers. Lucy dynamically generates and localizes ad content in real-time, utilizing retailer-specific data such as local pricing, inventory levels, and weather conditions to enhance relevance.
To support its continued expansion in North America, Qsic has recently established a new office in Dallas, which will serve as the hub for CEO Matt Elsley to drive new business growth. Additionally, the company has significantly expanded its workforce, nearly doubling its staff by hiring across engineering, product development, operations, and sales teams to fuel innovation and provide support for the growing number of locations leveraging its platform.
Qsic’s rapid growth and innovation have been underscored by several industry accolades. Notably, Lachlan Gow, the President leading Qsic’s expansion plans in North America, was honored as one of Path to Purchase Institute’s 40 Under 40 for his outstanding leadership and impressive track record.
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