VANCOUVER, BC, April 1, 2020, Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”) announces that Terry Burns, former owner of Mckays Home Theatre retail chain, has been appointed Loop’s Director of Sales. Mr. Burns will work closely with the CEO, Rob Anson, to continue building the company’s portfolio of clients and forge new partnerships in the $838B consumer electronic space.
Mr. Burns brings years of experience from the consumer electronics industry. For over 12 years, he owned and operated McKays Home Theatre retail chain, which was acquired in 2018. In January 2020, at the Consumer Electronics Show in Las Vegas, Mr. Burns validated his position in the industry by making introductions to key retailers and potential major brand partners.
Loop’s Director of Sales Terry Burns: “Loop’s products act as a powerful springboard for brick and mortar retail to compete with online giants such as Amazon. I am extremely confident that Loop’s solutions will quickly transcend the consumer electronics industry.”
The consumer electronics market holds immense power and influence over the world economy, and is, therefore, an industry with incredible growth opportunities for Loop. The consumer electronic industry will be worth 838.85 billion dollars by the end of this year, and between 2020 and 2024, revenue is expected to show an annual growth rate between 6% to 7.3%.
Limited by the challenges of a fragmented marketplace, this industry is hungry for innovative technologies that will give them direct access to their consumers—and are willing to invest a lot for it. In 2018, Sony spent 3.55 billion US dollars worldwide, and Samsung spent 2.15 billion US dollars in the United States alone, on marketing and advertisements. Loop provides the tools to unlock these detailed customer analytics, which in turn deliver: streamlined inventory and supply chain processes, personalized automated marketing to customers, and full attribution on physical transactions.
Rob Anson, CEO: “With our technology, Loop’s mission is to future proof brick and mortar retail. We want to ensure sustainability and viability in this ever-changing industry. With the addition of Mr. Burns to the Loop team, we are positioned to very quickly become a major contributor and influencer in the overall growth of the consumer electronics industry in 2020.”
More About Loop: Loop Insights Inc. (TSX.V: MTRX) is a Vancouver-based technology company that has developed a unique proprietary platform that combines the power of IoT and AI to level the playing field between brick and mortar retailers and their online competition. Loop gives brands and retailers the ability to connect their physical and digital assets, regardless of hardware or IT networks, thus enabling rapid deployment and global scale. Retailers and brands benefit from making real-time, data-driven decisions that help them curate unique personalized customer experiences in stores. Loop then delivers attribution with trackable redemption metrics and conversion rates, a capability which previously did not exist.
Forward Looking Statements/Information:
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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