Zurich, Switzerland-based smart data capture business Scandit acquired shelf audit automation technologies from Polish retail image recognition and AI software company MarketLab.
ShelfView, Scandit’s retail shelf management and analytics solution, uses item recognition, augmented reality, and other advanced computer vision technology to process photos for more intelligent and efficient store operations, is strengthened by the acquisition
Under the direction of CEO Samuel Mueller, Scandit is a pioneer in smart data collection, offering meaningful insights to employees, clients, and companies while automating end-to-end procedures. By capturing data from barcodes, text, IDs, and objects with speed, accuracy, and intelligence, its Smart Data Capture technology allows smart devices—like smartphones, handheld computers, drones, digital eyewear, robots, and fixed cameras—to interact with actual objects.
MarketLab’s fixed camera expertise complements Scandit’s ShelfView mobile capture technique to give merchants a hybrid data capture shelf intelligence solution. IHL Group research shows that on-shelf availability issues cost the global retail sector $634 billion yearly.
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The new hybrid solution will improve workforce efficiency and automate time-intensive store operations processes, allowing retailers to gain insights into on-shelf availability, planogram compliance, pricing issues, and more to optimize store conditions, maximize sales, and reduce stockout losses, especially in high-SKU grocery stores. AI-enabled notifications will improve store KPIs and identify issues in near-real time to shop staff 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.
Using mobile capture and fixed cameras together provides a full, scalable, and adjustable solution for all store formats that streamlines shelf management and saves money. Mobile capture via cellphones or mobile computers is deployable using existing devices, adaptable to store contexts, and scalable quickly. Fixed cameras capture high-frequency data for near-real-time shelf monitoring, freeing up store staff to focus on customer engagement.
“We are delighted to join forces with Scandit. Combining our complementary technologies, we look forward to delivering additional value, ROI, and insights to grocery retailers globally so they can benefit from increased visibility into their shelves, ensure accurate stock availability, and ultimately enhance the customer experience,” said Piotr Wardaszko, CEO of MarketLab.
ShelfView, Scandit’s retail shelf management and analytics solution, uses item recognition, augmented reality, and other advanced computer vision technology to process photos for more intelligent and efficient store operations, is strengthened by the acquisition. Scandit’s AI and machine learning capabilities give ShelfView 99.7% alert accuracy, essential for fast, accurate insights in rapidly changing shelf scenarios.
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Scandit can promote growth and retail innovation with MarketLab’s existing accounts, including Carrefour Poland, and Scandit’s broad retail customer base, including eight of the top ten US supermarkets. The purchase helps consumer packaged goods (CPGs) and merchandising agencies maximize profits through better on-shelf availability, proper pricing, promotions, and planogram compliance with retail partners. Scandit believes fixed camera deployments in warehousing can automate logistical procedures beyond retail.
MarketLab’s purchase marks Scandit’s development and leadership in smart data collecting. Scandit’s $150m Series D investment in 2022 accelerated its R&D, focusing on AI/ML capabilities, as shown in recent product breakthroughs including ID Validate, ID Bolt, MatrixScan Find, and more.
About Scandit
Scandit is the leader in smart data capture, offering workers, customers, and organizations superpowers through actionable insights and end-to-end automation.
About MarketLab
MarketLab represents retail revolution. They create innovative technical solutions that boost customer sales.
