LocoSoco Group Plc #LOCO – Trading Statement

LocoSoco Group Plc, the Wiener Borse traded company that builds technology to profit from creating sustainable communities, is pleased to announce a trading update for February 2020.

As indicated in post-year-end highlights in our full-year results statement published on December 4th 2019, the last quarter of the year and decade delivered significant growth in partnerships across the independent retail sector, the backbone of LocoSoco’s vision to enable sustainable communities.

Over 150 shops were onboarded across the UK from Penzance to Aberdeen between October 2019 and January 2020. Added to this, more than 10 new advisors, among whom are some of the most successful and reputable leaders in the industry, have joined the team including:

  • Kay Patel – Global Food & Wine (Best One) Multi-award winning retailer with a group of stores in East London, Member of the National Federation of Retailers Newsagent (NFRN) and Association of Convenience Stores (ACS).
  • Avtar Sidhu – Budgens, St Johns Wood, Ex IT Company owner turned multi-award winning retail store owner and Board Member of the Association of Convenience Stores(ACS).
  • Raj Aggarwal – Spar – Multi-awarding winning retailer with multiple outlets in the Midlands and Board Director of the Association of Convenience Stores (ACS) and Spar Meridian and Welsh Guild Board Member

The recently-launched MyEco.Site is already proving very popular with retailers as an online extension to their storefronts, giving them a new unique proposition to promote and sell over 300 eco-products to their respective communities.

LocoSoco Eco-Refill stations are now situated in over 50 shops and charity shops, along with a number of schools and places of worship. And Wandsworth Oasis has just set up a pilot scheme with MyEco.Site.

LocoSoco have also confirmed a stand at the biggest retail event of the year at the NEC in Birmingham (National Convenience Show). Founder and CEO James Perry will be taking part on a panel discussion on Sustainability in Retail on the 1st April.  (email locosoco@locoso.co for complimentary tickets).

LocoSoco have also recruited a Community Psychologist, Luca Comazzi as Community Engagement Officer to build relationships, and articulate shared revenue and equity opportunities with communities across the country.

CEO James Perry commented: “The surge in community partners and advisors joining our team is no coincidence; the LocoSoco offering is seen as a potential cornerstone for sustainable commerce as we head into a new decade. 

Industry backing for our offering continues to grow, as our company now offers the Holy Grail for brands by reaching independent retailers through our network.

LocoSoco Eco-Refill stations and MyEco.Sites will continue to incentivise our network of award winning retailers, and at the same time help challenger brands expand market share.

As trading patterns emerge from Eco-Refill and MyEco.Site outlets, we will be providing detailed financials and ARPU data in future updates. 

During Q1 2020, we are targeting more than 500 outlets to become part of the LocoSoco network, and as we expand our team we aim to reach 4,000 by the year end. I look forward to updating you on further progress.”

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