ZURICH, Aug. 21, 2024 – In a strategic move to enhance its retail intelligence solutions, Scandit has announced the acquisition of shelf audit automation technology from MarketLab. This acquisition marks a significant step by Scandit, a leader in smart data capture, to integrate advanced image recognition and AI tools into its ShelfView technology. With this development, Scandit aims to optimize in-store operations and retail shelf management, addressing the costly problem of on-shelf availability in retail sectors globally.
Overview of Scandit's Acquisition of MarketLab
Scandit, renowned for its innovative smart data capture solutions, has taken a major leap forward with its asset acquisition from MarketLab, a Polish tech firm specializing in image recognition for the retail industry. This move not only broadens Scandit's technological footprint but also enhances its competitive edge in the retail analytics market. MarketLab's team will join Scandit to expand the newly acquired offerings, promising a seamless integration of skills and technology.
Benefits of the New Hybrid Data Capture Solution
The collaboration between Scandit's mobile capture technology and MarketLab's fixed camera solutions paves the way for a sophisticated hybrid data capture system. This enhanced ShelfView solution will enable retailers to achieve higher accuracy in stock availability, planogram compliance, and pricing. Key benefits include:
- Increased efficiency: Automating complex store operations to improve workforce productivity.
- Real-time alerts: AI-enabled notifications that help in quick decision-making and maintaining optimal store conditions.
- Enhanced customer experience: Ensuring product availability and compliance with retail standards.
Together, these advancements in technology foster a more dynamic retail environment allowing for detailed insights and efficient management strategies.
Future Prospects and Market Expansion Opportunities
With the integration of MarketLab's technology into Scandit's ShelfView, new avenues for growth and innovation in retail are on the horizon. Scandit's existing partnerships with major U.S. grocers and MarketLab's interactions with entities like Carrefour Poland will significantly increase the market reach and impact of the combined solution. Looking beyond retail, Scandit views potential applications in warehousing and logistics, proposing a versatile future for its smart capture technologies.
In conclusion, Scandit's acquisition of MarketLab is poised to transform the retail sector by delivering a robust, flexible solution to manage on-shelf availability more effectively. This strategic development not only strengthens Scandit's market position but also aligns with its commitment to advancing retail operations through cutting-edge technology. Retailers worldwide stand to benefit greatly from the enhanced capabilities and insights offered by the new ShelfView solution.
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