Infobird's Subsidiary, Shanghai Qishuo, Engaged with World-Renowned Sports Footwear and Apparel Brand, to Deploy its Core Product "Retail Cube" to Enhance the Digital Analysis at Brand Stores in China

BEIJING, Aug. 9 , 2022 /PRNewswire/ -- Infobird Co., Ltd (NASDAQ: IFBD) ("Infobird" or the "Company"), a leading provider of AI-powered customer engagement solutions in China, today announced that its subsidiary, Shanghai Qishuo Network Technology Co., Ltd. ("Shanghai Qishuo"), has engaged with one of the world's top sports footwear brand to enhance its digital analysis at brand stores in China. This global footwear and sports brand, established in the United States, is now one of the most popular footwear brands in the world, selling its products in more than 150 countries. Shanghai Qishuo's core product "Retail Cube" can empower this leading sports brand to better analyze the various operations data generated by its brand stores located in China, enabling the brand to enhance the management of  store operations, processes and results.

The successful cooperation with this global brand is an important milestone for Shanghai Qishuo as it seeks further expansion in the footwear and apparel industry. In this cooperation, Shanghai Qishuo's "Retail Cube" will provide the client with customer intelligent hardware, an artificial intelligence algorithm and industry consultants and apply Plan-Do-Check-Act ("PDCA") data cycle processes as well as "GROW" model methodology to help the brand  integrate and analyze the collected traffic, commodity, operation and inventory data. These initiatives can further help the client to formulate an improvement plan of single store operations based on the analyzed results, which is expected to contribute to the stores' performance and growth. In addition, based on historical data collection and situation analysis, Shanghai Qishuo has the capability to make a predictive analysis of the possible scenarios of the store in advance, so that the store can deploy and respond to resources in advance, and provide a useful reference for precision marketing.

According to iiMedia Research data, the global sportswear market revenue reached 188.2 billion US dollars in 2020, showing a rising trend. It is expected that by 2025, the global sportswear market revenue will reach $207.79 billion US dollars, an increase of 10.41% compared with 2020. At the same time, the Chinese market is expected to continue to be the growth engine of the global consumer market. According to a Frost Sullivan report, the total retail consumption of sports footwear and apparel in China is expected to reach 392.3 billion RMB in 2023. With the huge market potential and the increasing competition among players, leveraging digital tools to improve efficiency, performance and the customer experience has become the focus of footwear and apparel enterprises in China.  This trend is expected to provide greater potential for Infobird and Qishuo's business growth over the short and long run.

About Shanghai Qishuo

Shanghai Qishuo Network Technology Co., Ltd is a player of consumer product and retail store digitalization solutions. Right now, the company's business is mainly focused on footwear and apparel industry and has rich experiences in serving leading clothing brands in China. With a deep understanding of the footwear and apparel brand's retail store operation, Qishuo has developed its main product "Retail Rubik's Cube" to empower clients with digital means to better understand and improve the operation process as well as the performances of stores. Qishuo's Retail Rubik's Cube has gained high recognition from its customers and the company won the honor of "Best Retail Practice Case of Big Data Application in China" in 2018.

About Infobird Co., Ltd

Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions in China. For more information, visit Infobird's website at www.Infobird.com.

Forward-Looking Statements 

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will, "future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events, results, conditions or performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date they are made. In evaluating such statements, investors and prospective investors should review carefully various risks and uncertainties and other matters identified in the Company's filings with the U.S. Securities and Exchange Commission. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

SOURCE INFOBIRD

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