After having served as acting CEO, Magnus Larsson has now been appointed President and CEO of Pricer. In this interview, he talks about his plans for the company, the high-set targets, and the future of the retail tech market.
How does it feel to have been appointed President and CEO?
It feels of course fantastic to get this trust from the board. Also, working with all dedicated Pricer colleagues every day is very motivating and together with the whole team, I am looking forward to continuing our journey to become retail’s first choice in shelf edge automation and communication.
How do you see Pricer in a few years?
Since I was appointed acting CEO in February, I have focused on a new strategy for the company, strengthening the sales organization and implementing profitability-enhancing measures and strict cost control, which all have begun to generate results.
This will lay the foundation for the future growth that we expect and that is in line with the financial targets for the coming years and that we communicated at our Capital Markets Day in June: 4.5 billion SEK in revenue 2025 of which 10% are recurring revenue.
In summary, I am convinced that we will be able to grow faster than the market.
What does the market situation look like?
We see several strong drivers on the market, such as inflation which generates a huge amount of work for retailers when they have to make constant price changes. Also, the lack of staff in several countries increases the need for brick-and-mortar stores to really focus on in-store efficiency, and thereby solutions like ours.
One trend that we see within retail is the interest in moving to cloud technology, which enables truly scalable solutions that are easy to handle across whole chains.
When we look at geographies, we see great momentum in the Americas and especially in Canada. We are also seeing strong growth in France, despite the fact that this market tends to be a mature market, and in Italy, the Nordic and Benelux regions amongst others. The interest in ESL solutions is also increasing from major retailers in Eastern Europe.
What will you be focusing on in the coming years?
I think that the fact that we have succeeded in the industry for more than three decades is that we have never settled. I want to make sure that we also in the years to come continue to have a mindset of constant change. I will also continue to focus on solutions that lead the transformation of retail with bold thinking and new innovations.
An area where I see a strong interest is the integration of digital signage and electronic shelf labels. This is a key element in unifying consumer messaging across all elements of in-store communication and it allows retailers to maintain absolute consistency and control of pricing and promotion while maximizing the effectiveness of communication to the consumer.
We are well-positioned to meet the competitive landscape that retailers are facing and their need to automate and digitize their stores, offering solutions that improve store efficiency, sales, and the shopping experience.
Published on December 14, 2022