Retail computer vision solution provider Trax has signed a partnership agreement with sales and marketing agency Acosta in order to improve its footprint in the US.
Through the partnership, Trax intends to leverage Acosta’s expertise in understanding in-store conditions across retailer stores and categories to enhance its shelf digitisation capabilities.
The development comes after Trax collaborated with information and measurement company Nielsen to launch the Shelf Intelligence Suite.
The agreement will also allow Trax to offer improved insights to Shelf Intelligence Suite customers.
Trax chief commercial officer Dror Feldheim said: "Acosta will be a critical component of Shelf Intelligence Suite. Its unparalleled data collection capabilities will enable clients to get a pulse of their shelf and store reality in the US."
Using the computer vision and analytics solution offered by Trax, photographs of a retail shelf are transformed into insights that assist in improving in-store execution strategies, identifying category opportunities and maximising a brand's sales velocity.
Acosta president and CEO Steve Matthesen said: "Store and shelf-level insights are always valuable to Acosta and they are at the core of our company's recommendations to customers, helping us to make informed strategic decisions based on what shoppers are buying.
"The ability to better understand what is happening at shelf is key to producing results and moving items into shoppers' baskets.”
Pursuant to the agreement, the shelf images will be collected by Acosta’s field representatives, following which brands will have access to visual proof of in-store shelving conditions and a measurement of how their products are represented in-store.
The analysed shelf data is combined with Nielsen’s point-of-sales dataset in order to provide actionable, granular insights to brands on how product sales are directly impacted by shelf performance.
Trax intends to develop insights that could result in smarter sales strategies for the consumer packaged goods (CPG) industry.
Image: Trax aims leverage Acosta’s expertise to offer improved insights to Shelf Intelligence Suite customers. Photo: courtesy of Trax.