Scandit, a specialist in smart data capture, has announced the asset acquisition of shelf audit automation technology from MarketLab, a Polish image recognition and AI software company specialising in the retail sector. As part of the transaction, MarketLab’s expert team will join Scandit to build and expand the new offering.
MarketLab’s expertise in fixed camera solutions complements Scandit’s existing ShelfView mobile capture approach to provide a hybrid data capture shelf intelligence solution for retailers. The global retail sector loses approximately US$634 billion annually due to problems with on-shelf availability alone, according to research from IHL Group. Delivering increased workforce efficiency and automating time-intensive store operations processes, the new hybrid solution will enable retailers to gain insights into on-shelf availability, planogram compliance, pricing issues, and more to maintain optimal store conditions, maximize sales, and reduce lost revenues due to stockouts, particularly in high-SKU volume environments like grocery stores. It will also provide AI-enabled notifications to improve store key performance indicators and flag issues in near-real time to store associates and management.
“The acquisition marks a new milestone in Scandit’s evolution as we continue to broaden our smart data capture capabilities for the wider retail industry. Integrating MarketLab’s fixed camera-based shelf recognition experience and technology into ShelfView strengthens our ability to empower retailers to enhance their overall store performance, boost store associate efficiency and optimize the monetization of shelf data with CPG partners,” said Samuel Mueller, CEO and co-founder of Scandit.
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