It might sound premature to invest in a relatively young growth company, but we believe Eagle Eye Solutions (EYE:AIM) is an interesting idea in the current budget-conscious consumer climate.

Eagle Eye claims to have developed a best-in-class loyalty and promotions omnichannel software-as-a-service platform called Eagle Eye AIR. It allows customers of big brands to validate and redeem digital promotions in real-time, principally to large supermarket chains, retailers and hospitality organisations across Europe, North America and Australasia.

Clients include Sainsbury (SBRY), Asda, Waitrose, John Lewis, Diageo (DGE), Greggs (GRG), Coca-Cola (KO:NYSE) and Budweiser-owner Anheuser-Busch InBev (BUD:NYSE). It also integrates with major payments services, such as Apple Pay, Google Pay, PayPal (PYPL:NASDAQ) and Stripe.

Eagle Eye AIR integrates with existing point of sale terminals, helping businesses to market and send vouchers, coupons, and loyalty incentives to customers, either by text, email or store apps. The platform also provides clients with useful customer data and insights, such as the number of redemptions taken up on a specific offer, and in which store.

This is a massive help when it comes to targeting customers with increasingly personalised rewards, a holy grail for retail and hospitality brands, and a great way to keep budget-conscious shoppers coming back.

Eagle Eye made its first net profit in the year to June 2021, but progress could be rapid going forward. Earnings last year went from 3.2p per share to 8.1p and Shore Capital forecasts EPS to double by fiscal 2025, pulling the price to earnings multiple into the realm of 35-times or so.

Yes, it is a little jam tomorrow and there are execution risks. There could also be occasional share placings in the future to raise extra growth funding, like the recent £15 million cash call. But this is a huge opportunity.

Researcher Fact.MR estimates the global digital loyalty market is set for rapid growth over the next decade, from about $40.3 billion last year to $98 billion by 2032, far outstripping global GDP. Eagle Eye’s own earnings forecasts have been steadily rising too.

Terry Leahy, who ran Tesco (TSCO) for 14 years, and Robert Senior, former boss of advertising group Saatchi & Saatchi, are on the board bringing huge experience. Leahy owns a 9.27% stake in the business, while founder and chief technology officer Steve Rothwell owns another 5.19% of the company, so there is decent alignment of objectives at the top table with ordinary investors.

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