SkipQ launches $400,000 funding round to develop global marketplace for airport retailers
SkipQ, the travel retail technology company, announced a fundraising round to raise $400,000, supporting its plan to further scale the growth of the business and develop the SkipQ platform.
SkipQ is a global, travel retail marketplace which merges airport vendors and services around the world together on a single platform. The technology provides a direct link between airport retailers and service providers, with airline passengers through the SkipQ app. Launching in four languages (English, Spanish, Russian and Arabic), the SkipQ app enables retailers to sell their products to consumers regardless of where they are flying from or travelling to.
A recent study In the U.S. revealed that less than 20% of passengers who travel by air spend money at airports, with the average amount spent around $140. IATA expects the overall traveller numbers to reach 4Bn by 2024.
Jure Bratkic, SkipQ Founder and CEO said: “SkipQ solves the pain points experienced by travellers trying to shop at airports. Studies show that passengers have a poor shopping experience which is due to many factors: limited time, long queues and high prices or they simply can’t find the product they want. The SkipQ App enables shoppers to browse at their leisure and pre-order at discounted prices before travelling. Exclusive in App deals and a wide range of products are offered by retailers which passengers can purchase and then collect at the airport, thereby avoiding the queues.”
SkipQ uses AI technology and data driven technology to provide its retail partners with real time sales forecasts and dynamic pricing information.
Jure added: “Using predictive analytics, we know when a consumer is willing to hit the buy or purchase button. This data provides our suppliers with key sales and pricing information. They know the optimum selling times and the quantity of services and merchandise that can be sold. These are exciting times and the global interest in SkipQ and partnerships with merchants has exceeded forecasts. It’s now time to announce our funding round and enrich the service.”
The article SkipQ launches $400,000 funding round to develop global marketplace for airport retailers first appeared in TravelDailyNews International.