Market Force Information, a provider of customer intelligence solutions, is expanding into Europe with the acquisition of U.K.-based Retail Eyes, a customer experience and mystery shopping provider. Terms of the acquisition were not disclosed.
Retail Eyes offers a range of customer intelligence solutions, including mystery shopping, customer satisfaction surveys, and in-store auditing, all on an integrated analytics platform.
Together with expanding its market breadth, the acquisition enables Market Force to establish a European Center of Excellence and add more than 100 world-class clients to its portfolio. It also doubles the company's independent contractor force from 300,000 to more than 600,000 mystery shoppers and retail auditors across the Americas and Europe. With this latest acquisition of Retail Eyes, a $13 million company, and its own year-over-year growth, Market Force expects to finish 2011 at a $70 million revenue run-rate.
"We help many of the world's leading brands to do what matters most to them: delight their customers across every store to drive growth and profitability," said Karl Maier, Market Force's CEO. "As the world becomes increasingly global, our customers need to drive consistent performance across every store, whether in New York, London, Toronto, or Berlin. There is no question that Retail Eyes has the most sophisticated customer intelligence business in the U.K., with a rapidly growing European practice. This acquisition will enable us to serve our multinational clients, as well as extend our services to new markets that have huge potential for growth."
Retail Eyes, which is based outside of London, will serve as Market Force's European headquarters as it provides customer intelligence solutions and market expertise for clients throughout Europe. Retail Eyes has an independent contractor network of more than 300,000 consumers across Europe who provide feedback as mystery shoppers to help brands such as Pret A Manger, Subway ,and Swarovski maintain the highest levels of customer service across their stores.
"The market for customer intelligence solutions is just beginning to explode in the U.K. and Europe, and we want to be at the forefront," said Tim Ogle, CEO of Retail Eyes. "We already have some of the most highly valued brands in the U.K. as clients. They appreciate how getting the customer experience right with every visit drives their success. The scale, product repertoire and Ph.D. analytics that Market Force offers, in combination with our U.K. and European expertise, makes us a formidable force together in a blossoming international market."