BEIJING, Aug. 9 ,
2022 /PRNewswire/ -- Infobird Co., Ltd (NASDAQ: IFBD)
("Infobird" or the "Company"), a leading provider of AI-powered
customer engagement solutions in China, today announced that
its subsidiary, Shanghai Qishuo Network Technology Co., Ltd.
("Shanghai Qishuo"), has engaged with one of the world's top sports
footwear brand to enhance its digital analysis at brand stores in
China. This global footwear and
sports brand, established in the United
States, is now one of the most popular footwear brands in
the world, selling its products in more than 150 countries.
Shanghai Qishuo's core product "Retail Cube" can empower this
leading sports brand to better analyze the various operations data
generated by its brand stores located in China, enabling the brand to enhance the
management of store operations, processes and results.
The successful cooperation with this global brand is an
important milestone for Shanghai Qishuo as it seeks further
expansion in the footwear and apparel industry. In this
cooperation, Shanghai Qishuo's "Retail Cube" will provide the
client with customer intelligent hardware, an artificial
intelligence algorithm and industry consultants and apply
Plan-Do-Check-Act ("PDCA") data cycle processes as well as "GROW"
model methodology to help the brand integrate and analyze the
collected traffic, commodity, operation and inventory data. These
initiatives can further help the client to formulate an improvement
plan of single store operations based on the analyzed results,
which is expected to contribute to the stores' performance and
growth. In addition, based on historical data collection and
situation analysis, Shanghai Qishuo has the capability to make a
predictive analysis of the possible scenarios of the store in
advance, so that the store can deploy and respond to resources in
advance, and provide a useful reference for precision
marketing.
According to iiMedia Research data, the global sportswear market
revenue reached 188.2 billion US
dollars in 2020, showing a rising trend. It is expected that
by 2025, the global sportswear market revenue will reach
$207.79 billion US dollars, an
increase of 10.41% compared with 2020. At the same time, the
Chinese market is expected to continue to be the growth engine of
the global consumer market. According to a Frost Sullivan report,
the total retail consumption of sports footwear and apparel in
China is expected to reach
392.3 billion RMB in 2023. With the
huge market potential and the increasing competition among players,
leveraging digital tools to improve efficiency, performance and the
customer experience has become the focus of footwear and apparel
enterprises in China. This trend is expected to provide
greater potential for Infobird and Qishuo's business growth over
the short and long run.
About Shanghai Qishuo
Shanghai Qishuo Network Technology Co., Ltd is a player of
consumer product and retail store digitalization solutions. Right
now, the company's business is mainly focused on footwear and
apparel industry and has rich experiences in serving leading
clothing brands in China. With a deep understanding of the
footwear and apparel brand's retail store operation, Qishuo has
developed its main product "Retail Rubik's Cube" to empower clients
with digital means to better understand and improve the operation
process as well as the performances of stores. Qishuo's Retail
Rubik's Cube has gained high recognition from its customers and the
company won the honor of "Best Retail Practice Case of Big Data
Application in China" in 2018.
About Infobird Co., Ltd
Infobird, headquartered in Beijing,
China, is a software-as-a-service provider of innovative
AI-powered, or artificial intelligence-enabled, customer engagement
solutions in China. For more
information, visit Infobird's website at www.Infobird.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Words such as "will, "future," "expects," "believes," and
"intends," or similar expressions, are intended to identify
forward-looking statements. Statements that are not historical
facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. All forward-looking
statements are inherently uncertain as they are based on current
expectations and assumptions concerning future events, results,
conditions or performance of the Company. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
are only predictions and speak only as of the date they are made.
In evaluating such statements, investors and prospective investors
should review carefully various risks and uncertainties and other
matters identified in the Company's filings with the U.S.
Securities and Exchange Commission. These risks and uncertainties
could cause the Company's actual results to differ materially from
those indicated in the forward-looking statements. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law.
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