WIXOM, Mich., April 4, 2016 /PRNewswire-USNewswire/ — In the modern retail environment, prompting a customer to pick one product over a myriad of choices available appears to be one of the most sought out characteristics of all, one that at least one company appears to have achieved.
In doing so, the firm, Firebolt Group Inc., has been named one of the 2016 Michigan 50 Companies to Watch, an award that honors second stage firms that are forming the backbone of the state’s economy. Firebolt will be honored at an awards ceremony during the 12th annual Michigan Celebrates Small Business gala event, May 5, 2016 in Lansing, Mich.
In the case of Firebolt Group, which has a manufacturing presence in Wixom, Mich., one of its key products is a Digital Video Point of Purchase system, Infostream DV POP. Infostream is credited with generating up to a 5 percent increase in sales for its users, a significant return on investment in one of the industry’s most competitive retail environments.
Firebolt Group, which was founded in 2003, is considered a leader in the field of digital signage, which it sees as one of its greatest ongoing competitive advantages.
“We are bringing an extraordinary level of innovation to this market, which is especially important given that our customers place a high value on the technology we continue to offer, innovations that drive their own marketplace leadership,” said CEO Philip Ochtman. “We see being named to the Michigan 50 Companies to Watch list as a key validation of what we have been seeking to achieve.”
A significant portion of Firebolt Group’s core business incorporates the design and manufacture of various LED and digital indoor signage and displays.
The company has expanded from the 38 employees it had in 2014 to some 44 in 2015, 40 of whom are located in Michigan. That number is expected to jump to 50 total employees, 46 of whom will be in Michigan.
Firebolt Group had sales of just over $10 million in 2014. A year later its revenue had jumped to $12 million and is currently on target to more than double sales in 2016. At least some of that growth has come from strategic acquisitions focused on digital and LED signage, a market that is expected to grow by 6.15 percent annually, reaching $20 billion by the year 2020.
The company’s newest offering, Infostream DV POP, uses a 4G wireless network as well as Bluetooth connectivity. It incorporates motion detection and facial recognition to deliver highly responsive, customizable Point of Purchase messaging.
The system has the inherent ability to respond instantly to the presence of a potential customer at the most important point in the customer experience—product selection.
By responding to different customer characteristics and scenarios, Infostream powered by Firebolt delivers from a system-driven series of messages directly to the Point of Purchase screen, which incorporates LED technology.
A video of the Infostream system can be seen at: https://www.youtube.com/watch?v=w198PZcbI98
About Michigan 50 Companies to Watch – Michigan 50 Companies to Watch, now in its 12th year, was founded by the Michigan Small Business Development Center. The organizers include the Michigan Economic Development Corporation; U.S. Small Business Administration—Michigan; Edward Lowe Foundation; Chris Holman, Small Business Advocate; and the Small Business Association of Michigan. The competition ranks companies seeking to be on the list from among those who have six to 99 full-time equivalent employees and which generate $750,000 to $50 million in annual revenue or working capital from investors or grants.
The companies selected represent all regions of the state and a diverse range of industries. Companies like Firebolt Group Inc. were selected for their exceptional entrepreneurial leadership, creation of innovation or use of innovation in creative ways as well as their sustainable competitive advantage. Winners were selected by Michigan-based judges from the banking, economic development, entrepreneurship development, and venture capital communities.
About Firebolt Group – For over 20 years we have been a leader in the world of brand display solutions. Firebolt is a new name, born out of the merger between Estrakon and Tec Art Industries: two leading, global suppliers and specialists in designing and fabricating eye-catching electronic signage and custom marketing media for decades. Firebolt offers state-of-the art facilities in USA, UK and China. Our global reach allows us to work with some of the most iconic and recognizable brands in the world. We have earned a reputation with leading brands as a go-to-resource because we demonstrate a tireless dedication and commitment to wowing our customers at every point of contact.