Published: Nov 30, 2021
Focus: NPIF Maven Equity Finance
Headquartered in Liverpool, MG has built a platform that provides retailers with unique data insights such as price, viewed products and saved products direct from the consumer. These insights then enable fashion retailers to make more informed decisions on markdowns of stock, reducing leakage and enhancing profit margins, a by-product of blind reductions.
Data provided to MG’s partner retailers is generated through the Squished app, a multi-faceted browsing platform that enables consumers to browse, track and monitor high street fashion items on a single app. The data generated by MG enables retailers to identify trends and inform future pricing and discount pricing strategies.
In recent years the retail analytics sector has experienced a digital revolution and it is anticipated that the shift in consumer preferences and behaviours will continue throughout the 2020s. Factors driving growth of data analytics and business intelligence in the retail sector include growth of the e-commerce sector, increased retailer spend on data insights and revenue optimisation. The market was valued at c$5.29 billion in 2019 and is expected to reach c.$15 billion by 2025.
MG was co-founded in 2018 by Richard Blanchard, Stephen Goodheart and Stewart Cox, a team of commercial and technical operators with extensive experience in executive-level digital, retail e-commerce and marketing strategy. Collectively, they have previously worked for major retail organisations including Matalan, Harvey Nichols, Pets at Home and Robinsons.