NCR Corporation (NYSE: NCR), a leading provider of retail solutions that run the store, announced today the acquisition of grocery e-commerce leader Freshop.
Adding e-commerce to NCR’s leading retail core point-of-sale platform will give retailers, especially regional and small grocery chains, the ability to quickly deploy “buy-online, pickup-in-store” capabilities to serve their customers’ needs directly. This combination enables retailers to build stronger customer relationships, strengthen their brands, and earn better margins than with third-party e-commerce providers.
“As we continue to expand NCR’s software and services-led offerings, the addition of Freshop to our retail platform creates more value for our customers and new capabilities for NCR to run the store,” said Michael D. Hayford, president and chief executive officer, NCR Corporation.
NCR estimates “buy-online, pickup-in-store” e-commerce will grow by 25 percent per year through 2025. Third-party providers of online solutions initially filled the demand gap for these services when the pandemic hit, but grocers need and want to reclaim their customer experience. With Freshop, NCR can now help grocers capitalize on the growth in e-commerce going forward.
“We know that by joining the industry leader in retail technology, Freshop can scale more rapidly and be an even bigger force in the market,” said Brian Moyer, chief executive officer, Freshop. “The team and I are proud of what we have built and are excited about this next step in our journey together with NCR.”
Freshop’s e-commerce capabilities will become a key component of NCR’s Next-Generation Retail Store Architecture, including NCR Emerald, which provides retailers the ability to simplify store operations and introduce future innovations in a fraction of the time and cost.
Financial terms of the transaction were not disclosed.