A2Z Secures Initial Purchase Order for 500 Smart Carts in Belgium
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The announcement of A2Z Smart Technologies Corp's initial purchase order for 500 smart carts represents a significant strategic move for the company, indicating a tangible expansion into the European retail market. The deployment of these carts within a major Belgian retail chain could serve as a catalyst for further adoption across the continent, potentially increasing the company's market share and revenue streams.
From a market research perspective, the integration of smart cart technology is in line with current retail innovation trends, focusing on enhancing customer experience and operational efficiency. The revenue-sharing model suggests a long-term partnership and confidence in the product's ability to generate continuous income. This could attract investor interest as it demonstrates a sustainable business model beyond the initial sale.
The financial structure of the deal, including an upfront fee combined with guaranteed monthly payments and a revenue-sharing agreement, provides A2Z with a diversified income stream. This structure is particularly beneficial as it mitigates the risk of fluctuating sales volumes and ensures a steady cash flow. The upfront fee will likely have an immediate positive impact on the company's financials, while the recurring payments will contribute to long-term financial stability.
Investors should note the potential for increased operational costs associated with international expansion, such as logistics and customer support. However, if A2Z successfully manages these expenses, the deal could lead to improved profit margins and shareholder value.
The adoption of smart cart technology by a large retail chain signifies a milestone in retail tech innovation. Smart carts, which are designed to streamline the shopping experience and gather consumer data, can offer a competitive edge. The technology can increase checkout efficiency and enhance personalized marketing, which is crucial in a data-driven retail environment.
For stakeholders, the key to success will be in the execution of the technology's deployment and the user adoption rate. If customers respond positively and the technology integrates seamlessly with the retailer's existing systems, it could set a precedent for future contracts and partnerships, further solidifying A2Z's position in the market.
TEL AVIV, ISRAEL / ACCESSWIRE / January 24, 2024 / A2Z Smart Technologies Corp. ("A2Z" or the "Company") (NASDAQ:AZ)(TSXV:AZ) ($AZ), a global leader in innovative technology solutions, announced that, subsequent to the approval on January 23, 2024, of its board of directors, Cust2mate Ltd. has entered into an initial purchase order for 500 smart carts to be deployed in one of the largest retail chains in Belgium, with the smart carts expected to be deployed by the end of 2024.
The purchase agreement includes an upfront fee, guaranteed monthly payments, and a revenue-sharing model for the value-added services provided by A2Z's Cust2mate Smart Cart technology.
Guy Mordoch, CEO of Cust2Mate, expressed his excitement about this achievement, stating, "This purchase order signifies a significant milestone for A2Z as we continue to make strides in the international market with our Smart Cart business. Our team has worked tirelessly to develop and deliver cutting-edge technology that meets the evolving needs of the retail industry. We are thrilled to partner with one of Belgium's largest retail chains, and we believe this collaboration will set a new standard for the future of smart shopping experiences. This purchase order is further proof that our solution is viewed by Tier 1 retailers across the world as a new technology for adoption."
About A2Z Smart Technologies Corp.
A2Z Smart Technologies Corp. creates innovative solutions for complex challenges. A2Z's flagship product is an advanced proven-in-use mobile self-checkout shopping chart. With its user-friendly smart algorithm, touch screen, and computer-vision system, Cust2Mate streamlines the retail shopping experience by scanning purchased products and enabling in-cart payment so that customers can simply "pick & go", and bypass long cashier checkout lines. This results in a more efficient shopping experience for customers, less unused shelf-space and manpower requirements, and advanced command and control capabilities for store managers.
For more information on A2Z Smart Technologies Corp. (NASDAQ: AZ) (TSXV: AZ) ($AZ) and its subsidiary, Cust2mate Ltd., please visit www.a2zas.com.
Cautionary Statement Regarding Forward-looking Statements
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere.
Company Contact Information:
Gadi Graus, President
Gadi.g@a2zas.com
+972-73-3700544
Investor Contacts:
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com
(646) 536-7331
SOURCE: A2Z Smart Technologies Corp
View the original press release on accesswire.com
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