Another successful business year for Bring! Labs
The company Bring! Labs, which operates the shopping list app Bring! and the prospectus app Profital, was able to continue its growth in 2022. Despite a tense economic situation, sales increased by around 30 percent.
According to the company, this growth was driven firstly by the retail division, which benefited from the fact that retailers were shifting more of their advertising activities to digital, particularly for offers and brochures, in view of the sharp rise in energy costs and paper prices. On the other hand, the company was also able to further expand its business with customers from the FMCG market, which is characterized by considerably reduced advertising budgets. With over three million monthly active users in the DACH region, Bring! Labs also increased its active user base again in 2022.
Significant growth in advertising business
Bring! Labs said that the expansion of the advertising business had made a significant contribution to revenue growth. With precisely targeted formats such as native ads in the apps and digital brochures, it was possible to significantly increase sales to existing customers.
Customers include branded goods companies such as Danone, Dr. Oetker, Red Bull, Jacobs Douwe Egberts and Heineken, as well as retailers such as Edeka, Migros, Lidl, Media Markt and Bauhaus. In addition, Bring! Labs was able to win a number of new customers such as Unilever, Coca-Cola, Bayer, the Alois Müller dairy, Netto Marken-Discount, Penny and Fnac.
"Inflation and the uncertain economic climate are increasing pressure on consumers to save, and on manufacturers and retailers to reduce costs and increase efficiencies," said Marco Cerqui, CEO of Bring! Labs. "The fact that Bring! Labs has managed to achieve significant revenue growth in this climate demonstrates that our apps and advertising platform provide the right offers to businesses and user:ins alike, even in challenging times. Digital offer communication offers cost efficiency, for example in the face of rapidly rising paper prices, target accuracy and user-friendliness. This type of marketing and customer approach meets the needs of both groups. We are convinced that contextual and native advertising will play a central role in both offer communication for retailers and product and brand communication for FMCG manufacturers in the coming years."
Further development planned for advertisers and users
In 2023, Bring! Labs plans to further expand the two apps into personalized shopping companions for consumers and a comprehensive platform for digital offer and brand communication for advertisers. More personalization options in the Bring! app will offer retailers and brands additional opportunities to target consumers even more precisely. A complete redesign of the Profital app is also planned, which should significantly improve the user experience and enable advertisers to target consumers more precisely. This personalization in both apps should enable users to prepare for their purchases even better and more efficiently.
Further growth through restructuring
In order to achieve its goals, the company, which has sites in Zurich, Basel and Berlin, intends to grow further and continuously optimize its structures. Already in 2022, Bring! Labs was already able to increase the number of employees by 35 percent to more than 60 in 2022 - and this development is set to continue in 2023, with a particular focus on the Berlin site, which is to be significantly strengthened and expanded in 2023.
Another important aspect of enabling further growth is the adaptation of corporate structures. The company has reorganized itself and, among other things, formed dedicated product and sales teams for retail and FMCG in order to be able to offer customers from these sectors even more tailored and comprehensive advertising portfolios.
Responsibility for the Commercial Department now lies with Raphael Thommen, Chief Commercial Officer of Bring! Labs: "With the restructuring, we will be able to focus even more consistently on our two core industries, retail and brand manufacturers, in the DACH region and offer our customers an even better and more holistic service.