SINGAPORE, January 12, 2018
Trax, the world leader in computer vision and analytics for the retail and consumer goods industry, has launched today the industry’s first integrated, real-time, store management solution called Retail Watch.
The company has taken its best in class computer vision platform, powered by Google Cloud, to offer on-premise image recognition processing to give retailers greater flexibility and more deployment options to receive immediate shelf insights for action.
Retail Watch, will help retailers ensure every store is made more productive, profitable and future-proof. The technology continuously tracks real-time shelf conditions by analyzing shelf images captured by wireless IOT shelf cameras, autonomous robots and AR-powered mobile apps.
Using Trax’s solution, retailers will be able to attain previously unavailable information and insights to not only solve persistent issues such as out of stock and incorrect shelf sets but also put new products on shelves much quicker than before. This will ultimately improve store productivity, optimize store supply chain and delight shoppers by transforming the in-store shopping experience. It is this type of technology and real-time analytics that will help to plug the $634 billion1 in lost sales due to stockout and missed inventory.
“Computer vision and machine learning will drastically change the way retailers do business in the next three years,” said Joel Bar-El, CEO at Trax. “Trax’s new integrated store solution leverages the latest advances in these technologies to help retailers get back to basics with an optimized way to stock, sort and sell products to delight shoppers with every purchase, in every visit to the store.”
Retailers closely monitor their store activities, but to date it has been done in labor intensive and fragmented ways, resulting in inaccurate and inconsistent information. By implementing Trax’s integrated store management solution with on-premise image recognition capabilities, retailers will be able to receive real-time shelf level information at global scale, with increased security and privacy. This shelf analytics informs both immediate and future in-store strategies and category plans resulting in increased revenues and operational efficiencies.
Trax will be demonstrating the capabilities of its platform at this year’s Retail’s Big Show hosted by NRF, January 14-16 in New York. In addition to their own presence, Trax and Google Cloud will be joining forces at NRF to demonstrate their combined technology and Trax’s store management solutions in Google Cloud’s exhibition booth.
Dror Feldheim, Chief Commercial Officer at Trax, added: “Sweeping changes are happening in retail, but brick and mortar isn’t going away. In fact, we see players like Amazon and Alibaba making big bets on the physical world of retail. At the end of the day, there will be winners and losers, and the winners need to adapt now to win.”
Notes to editors
The Big Retail Event
Trax will be exhibiting at NRF’s Retail’s Big Show (14-16 January).
Press are welcome to visit Trax at the following locations:
- Trax’s main booth: #2883, Level 3
- Google’s booth: #953, Level 1
- Innovation Lab Stage: Level 4
Interviews with Trax spokespeople can be scheduled through the press contact below.
+1 415 770 5005
Trax is the world leader in computer vision and analytics for retail, ranking in the top 25 Fastest Growing Companies on Deloitte’s Technology Fast 500 list. The company enables tighter execution controls in-store and the ability to leverage competitive insights through their in-store execution tools, market measurement services and data science to unlock revenue opportunities at all points of sale. Trax does this using smartphones, tablets and IOT devices to gain actionable shelf analytics in real-time. With over 175 clients, in over 50 countries, top brands such as Coca-Cola, AB InBev, Nestle, Henkel, PepsiCo and many more, leverage Trax globally to manage their in-store execution and increase revenues at the shelf. Trax is headquartered in Singapore with offices worldwide. To learn more about Trax, please visit www.traxretail.com.