Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc, a provider of real-time data analytics through artificial intelligence, has signed a deal on January 17 this year to provide Abbot’s Butcher, a premium plant-based protein brand, with Fobi’s Qples coupon platform.
Abbot’s Butcher is an up-and-coming plant-based protein company that champions sustainability and health. It has a growing retail footprint that stretches into over 800 retail and food service locations across the US, including Whole Foods Market.
Vancouver-based advanced technology company Fobi said that customer-centric Abbot’s Butcher was looking to offer digital coupons to add value and make it easier for their customers to redeem their coupons.
Abbot’s Butcher reportedly evaluated several options, but finally settled on Fobi’s Qples, an industry leader in digital coupons, as they were pleased by how easy Qples was to use. The great service they got from the Fobi team also sealed the deal, said the company.
"We are excited to partner with Qples by Fobi and to launch our first-ever digital coupons at Abbot's Butcher. This will allow us to give back to our customers and drive trials for new customers," Abbot’s Butcher marketing director Kristi Fanning said in a statement.
Abbot’s Butcher adds to a growing list of fast-moving consumer packaged goods (CPG) brands and retailers that trust Qples by Fobi with their print at home and digital couponing needs.
Fobi will generate revenue from this deal through an ongoing per coupon revenue model, noted the company.
“This deal with Abbot’s Butcher continues our string of success with CPG brands, however, it is also very exciting as we are beginning to see success and expect exponential growth in our business in the Health Food Industry,” said Fobi founder CEO Rob Anson. “Fobi’s ability to deliver targeted coupons and promotions through the Qples platform, combined with the power of personalized real-time engagement through our Passcreator Wallet pass platform will drive digital transformation in the Health Food Industry.”
In 2020, during the pandemic, the global market for health and wellness foods swelled to US$764 billion, and is now projected to expand to US$1.1 trillion by 2027, growing at a compound annual growth rate (CAGR) of 4.8% from 2020-to-2027, according to a report from researchandmarkets.com.
Fobi said this demonstrated “a great opportunity” for it to increase its business with CPGs and retailers in the industry. The growth is being driven in large part by the new 8112 Universal Coupon Standard being championed by The Coupon Bureau and Qples by Fobi, said the company.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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