1. News
June 4, 2019

Trax and LenzTech team up to digitise offline retail

Computer vision and analytics retail industry solutions provider Trax and Chinese retail artificial interlligence (AI) and Big Data service platform LenzTech have partnered to offer Chinese Consumer Packaged Goods companies (CPGs) with greater visibility into store conditions.

Computer vision and analytics retail industry solutions provider Trax and Chinese retail artificial interlligence (AI) and Big Data service platform LenzTech have partnered to offer Chinese Consumer Packaged Goods companies (CPGs) with greater visibility into store conditions.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
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This move aims to help the CPGs to have better in-store execution and undertake promotion optimisation and merchandising strategies. The partnership brings together Trax’s technologies with LenzTech’s AI and crowdsourcing market expertise, which will help to ‘digitise’ the country’s offline retail segment.

Leveraging computer vision, machine learning and Internet of Things platform, Trax provides in-store execution solutions, market measurement and consulting services for CPG brands and retailers. Using its solutions, it turns photos of retail shelves into granular, actionable shelf and store-level insights.

“The union of LenzTech and Trax’s technologies will make our offering the powerhouse retail execution solution in China.”

Several top brands and retailers utilise Trax in more than 50 countries, to boost execution excellence, boost sales and market share.

LenzTech leverages its 800,000 userbase to perform tasks such as taking images of a store shelf. It has 50,000 monthly active users and covers over 1,000 cities across China.

Trax’s CCO and co-founder Dror Feldheim said: “China is set to be the world’s largest retail market this year, and there is a clear need for a solution that enables brands to hone their in-store execution and increase their margins. The union of LenzTech and Trax’s technologies will make our offering the powerhouse retail execution solution in China. We have consistently been impressed with LenzTech’s innovation, footprint and its vision and look forward to transforming the new retail landscape together.”

The merger will also see Trax set up a Research and Development centre in China to drive innovation to tackle specific challenges.

LenzTech CEO James Tang said: “Trax’s leadership philosophy is very similar to our own. We are both committed to helping brands realise the vast opportunities in physical retail channels and capitalise on the moment of retail transformation in China today.

“We look forward to working together with Trax to demonstrate to brands how they can leverage the very best in breed AI technologies to collect and acquire comprehensive data and insights that is more accurate, objective and with rapid effectiveness to unlock smarter business decisions at all point of sale.”

 

Free Report
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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.