Professional Background
Nick Larkins is the Co-Founder and Chief Product Officer (CPO) of Qsic. In his role, he leads the product vision and strategy for the company, focusing on AI-powered retail media solutions.
Experience
Nick co-founded Qsic with Matt Elsley, leveraging their experience from a prior venture, Easy Control, which specialized in business and home automation systems. This prior experience highlighted inefficiencies in music management for businesses, leading to the creation of Qsic, which transitioned successfully from Easy Control and saw rapid growth coinciding with the launch of Spotify in Australia.
Nick has held positions including:
- Chief Product Officer at Qsic
- Chief Operating Officer at Easy Control
- Previous roles at Bloomberg LP and Rutledge AV, A Diversified Company
Education
Nick Larkins attended RMIT University, where he developed his foundational skills that would later support his ventures in tech and business automation.
Key Achievements and Highlights
Innovations and Collaborations
- AI-Powered Retail Media: Under Nick's leadership, Qsic developed a proprietary AI platform that substantially enhances in-store audio experiences, transforming them into significant revenue generators via targeted advertising.
- Partnership with Lunds & Byerlys: Collaborated with a leading US grocery brand, Lunds & Byerlys, signifying Qsic's expanding influence in the retail sector.
- 2023 Campaign Success: Implemented a successful promotional campaign that highlighted a strategic pricing approach, resulting in a 20% sales uplift for bundled food and soft drink items.
Recognition and Thought Leadership
- Featured in industry discussions and articles, such as the Engage3’s "The Innovation Table" where Nick shared insights on transforming retail media using AI and audio tech.
- Presented at notable industry events including ShopTalk 2023 and the Path to Purchase Institute & Shopper Marketing Retail Media Summit UK 2024.
Company Performance
Qsic Overview
- Location: Abbotsford, Victoria
- Recent Growth: Reported over 220% year-over-year growth, showcasing the company's continued success and expansion.
- Clientele: Includes sectors such as grocery, convenience stores, and quick-service restaurants.
Products and Solutions
- In-store Audio Systems: Qsic designs, procures, and installs audio infrastructure, automating in-store experiences to enhance customer engagement and operational efficiency.
- Advertising Platform: Retailers using Qsic’s platform see an average 15% increase in sales of advertised goods.
- Technological Integration: Utilizes first-party data from POS systems to optimize ad campaigns, ensuring targeted and effective promotions based on regional market dynamics.
Future Vision and Industry Trends
Technological Trends
- Enhanced Store Automation: Embracing technologies like electronic shelf labels and automated inventory systems.
- Audio and Visual Retail Media: Integral use of in-store audio platforms for targeted advertising and digital signage for dynamic promotions.
- Data-Driven Retailing: Leveraging analytics for informed decisions on customer preferences and inventory management.
Ethical Considerations
- Privacy: Emphasizing transparency and responsible data usage to build consumer trust while utilizing advanced AI and data analytics solutions.
Environmental Impact
- Sustainability: Qsic is addressing environmental concerns by optimizing supply chain management to reduce overproduction and minimizing the environmental footprint through energy-efficient technologies.
Nick Larkins’ forward-thinking approach and significant contributions to Qsic’s growth highlight his role as a pivotal figure in transforming retail media through innovative technologies and strategic partnerships.
