In Augmented Reality News
September 11, 2024 – Scandit, a provider of smart data capture solutions, has recently announced the asset acquisition of shelf audit automation technology from MarketLab, a Polish image recognition and AI software company specializing in the retail industry. As part of the transaction, MarketLab’s team will join Scandit to build and expand a new offering.
Scandit stated that the acquisition will help to strengthen its ‘ShelfView’ shelf management and analytics solution, which leverages object recognition, augmented reality (AR), and other advanced computer vision technology to process images for more intelligent and efficient store operations.
MarketLab’s ‘SmartEye’ solution is a cloud-based technology that automatically analyzes images from fixed store cameras to help monitor store shelves. It works by comparing the products on the shelves to a planogram – a guide used by retailers to indicate product placement on shelves in order to maximize sales.
MarketLab’s expertise in fixed camera solutions will now complement Scandit’s existing ShelfView mobile capture approach to provide a hybrid data capture shelf intelligence solution for retailers.
According to Scandit, this new hybrid solution will enable retailers to gain insights into on-shelf availability, compliance with planograms, pricing issues, and more. The solution 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.
“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.
Scandit noted that mobile capture via smartphones or handheld computers is easily deployable since it utilizes existing devices, can be adapted to different store environments, and can be scaled quickly. The addition of fixed cameras to its solution will provide continuous high frequency data capture for near-real-time shelf monitoring while freeing up store associates to devote their time to higher-value tasks such as customer engagement.
Scandit added that the acquisition of MarketLab signals a new phase of growth for the company, and also opens new routes to market by providing insights to consumer packaged goods (CPGs) and merchandising agencies. Beyond the retail sector, Scandit stated that it sees future potential in fixed camera deployments across other environments such as warehousing to automate logistics workflows.
The announcement follows a USD $150 million Series D investment in 2022, which helped Scandit to accelerate its R&D efforts, through which it has focused on AI and machine learning (ML) capabilities. The company did not disclose the acquisition MarketLab amount.
For more information on Scandit and its AR and AI-powered solutions for retail, please visit the company’s website.
Image credit: Scandit / MarketLab
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About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.