BGF Retail Signs Business Agreement with BC Card and KT for Data Distribution and Utilization
On the 9th, BGF Retail signed a business agreement with BC Card, KT, and NielsenIQ Korea for cooperation in data distribution and utilization.
View original image[Asia Economy Reporter Lim Chunhan] BGF Retail announced on the 9th that it has signed a business agreement for data distribution and utilization cooperation with BC Card, KT, and NielsenIQ Korea.
Through this business agreement, each company will utilize big data related to products, payments, and telecommunications that they possess to develop customized products and services for customers.
CU, a convenience store operated by BGF Retail, is a representative nearby retail channel visited by approximately 150 million customers monthly. Through this business agreement, POS data such as sales by region, time, and product will be shared. CU's product sales data will be combined with consumer payment data from card companies and mobile data from telecommunications companies to understand consumption demand according to customers' lifestyles.
BGF Retail has formed strategic alliances for digital transformation (DT) across various heterogeneous industries and is providing optimal products and services to customers using CU by utilizing big data possessed by each company, while supporting customized operational strategies for each store. In fact, BGF Retail signed a business agreement with the Financial Security Institute in 2020, the first in the industry, to innovate convenience store data distribution and utilization, and is developing data products and services using consumer distribution data.
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A BGF Retail official said, “We are accelerating innovation in future businesses through active data fusion activities with various heterogeneous industries,” and added, “In particular, we expect this business agreement to greatly help improve profitability and customer convenience at more than 15,000 franchise stores nationwide.”
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