Springboard, the leading UK retail footfall specialist, has been acquired by MRI Software, a US-based real estate software specialist. This strategic acquisition will allow MRI Software to expand its ‘MRI@Work for Retail’ solutions suite and enhance its offerings to retailers and retail property owners worldwide.
Founded in 2002, Springboard is renowned for its AI-powered analytics and possesses the most extensive and comprehensive data set on footfall in the retail industry. It provides valuable weekly and monthly data on foot traffic in UK high streets, shopping centres, and retail parks.
With a client base of over 450 and operations in more than 3,000 sites, Springboard is trusted by global media outlets, brands, and governing bodies for its accurate data, high-quality reporting, and insightful retail insights. The acquisition by MRI Software will strengthen its retail and smart data offerings, empowering clients with deeper insights to inform their business decisions.
MRI Software CEO, Patrick Ghilani, emphasized the importance of in-store technology adoption in the post-pandemic retail landscape. He highlighted that physical locations now play a more significant role in the redefined shopper and guest experience. Springboard’s intelligent and actionable data will enable retailers to boost shopper traffic and engagement, improve conversion rates, and level the analytical playing field between e-commerce and brick-and-mortar stores.
Springboard CEO, Steve Booth, expressed excitement about the acquisition and the benefits it will bring to their clients. He stressed that footfall data is a crucial predictor of business performance, and accurate data helps businesses make faster and more informed decisions to optimize store operations and generate more revenue. Booth looks forward to continued innovation and collaboration with the MRI team.
The acquisition of Springboard by MRI Software underscores the increasing importance of data analytics in the retail industry. As retailers navigate the evolving landscape, accurate and actionable insights will be vital in driving success and maintaining competitiveness. The collaboration between MRI Software and Springboard will undoubtedly contribute to the advancement of retail analytics and create new opportunities for retailers and property owners.
Useful links:
1. MRI Software
2. Springboard
