The Silicon Review
The advent of online shopping has massively reshaped the retail industry. However, this doesn’t mean that brick-and-mortar retail is dead. Many people still prefer to visit retail stores over online shopping.Companies can transform their customer experience by using computer vision in retail. Computer vision can allow retailers to speed up many business operations like shelf management, payments, data collection, and compliance. Also, this technology can use connected cameras to monitor retail stores, spot suspicious behavior, and deter theft. This application can help retailers in improving store security. Along with these applications, retailers can use such solutions for in-store marketing and sales.
One such firm which is a pioneer in providing computer vision solutions for retail is Trax Retail.
Trax Retail is the world leader in computer vision solutions for retail, ranking in the top 25 Fastest Growing Companies on Deloitte’s Technology Fast 500 list.Trax is the global leader in computer vision solutions for CPGs and Retailers, ranking in the top 25 Fastest Growing Companies on Deloitte's Technology Fast 500 list.
The Trax platform enables tighter execution controls in-store and the ability to leverage competitive insights through their in-store execution tools, market measurementservices, and data science to unlock revenue opportunities at all points of sale. In addition to mobile phones and tablets, Trax partners with leading innovators of IOT technologies including fixed cameras, robotics, and more, to capture retail reality in-store.
Trax is headquartered in Singapore, with offices throughout APAC, Europe, the Middle East, North America, and South America. The firm includes global brands like Coca-Cola, ABInBev, Heineken, Nestle, and Henkel as their clients.
The main mission of Traxis to deliver a fast, accurate, and consistent way for their customers to optimize how the client’s products are executed on the shelf, using their breakthrough computer vision platform.
The Trax Advantage – Enhancing computer visionin retail services
Advanced Computer Vision
The firm has combined the power of Computer Vision and Deep Learning to build deep recognition networks with market-leading accuracy.
Their advanced geometric techniques extract spatial information from every shelf image, and the algorithms calculate store conditions data down to the last SKU.
Data Discovery & Visualization
The company collects everything so that their clients can dive in anywhere and explore and enrich data the way they want. Visualize the data with engaging dashboards for those light bulb moments.
Trax Retail Execution
Trax Retail Execution is an in-store execution product that helps consumer goods companies win at the shelf with a comprehensive real-time view of store and field performance across all retail channels.
How it works
STEP 1: The sales rep stands in front of the store shelf and takes a picture.
STEP 2: The pictures are sent to our Trax cloud to be analyzed.
STEP 3: Within minutes, the sales rep gets actionable mobile reports, while management teams get detailed assessments online.
Trax Retail Snapshot
Trax Retail Snapshot is a crowdsourcing-based store audit solution that provides CPGs a rapid, cost-effective way to gain unprecedented insights into merchandising and promotion execution performance.
How it works
STEP 1: Trax Crowd, an always-on mobile workforce visits stores at the desired frequency and time.
STEP 2: Store visit responses and photos are sent to our Trax Cloud for real-time analysis.
STEP 3: Store-level data and photos are delivered within 24 hours.
Trax for Store Operations
Modernize your store to drive staff productivity: Divert store labor from manual-store audit work to more impactful activities like dealing with customer queries, replenishing stock and managing to merchandise.
Leverage IoT and robotics to capture, analyze and act: Replace manual-store walks with an image recognition-based mobile and IoT system that captures store reality and sends real-time alerts to store staff on risk measures.
Turn shelf labels into digital assistants: Leverage smart shelf labels that not only maintain total price integrity but also display stock levels and planogram compliance issues for store staff to fix.
The visionary behind the glory of Trax Retail
Joel Bar-El is the co-founder and also serves as the Chief Executive Officer (CEO) at Trax. Joel is responsible for Trax’s vision and overall market strategy and execution. Before being named CEO of Trax in October 2011, Joel was Trax’s, Chief Technology Officer.
Prior to Trax, Joel was CEO of Sentryi Limited, a wealth management software company, which after four years of the establishment was sold to IRESS Limited. Joel also co-founded Tersus Software Limited, where he built and managed the global sales channels and marketing activities.
Joel has a unique ability to envision, develop and deliver paradigm-changing technologies and is in every sense, a tech entrepreneur. Joel has spent the last 20 years delivering technology solutions to blue-chip clients and holds a B.Sc. in Physics from Tel Aviv University.
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