KUALA LUMPUR, June 4 (Bernama) -- Trax, the world’s leading provider of computer vision and analytics solutions, has partnered LenzTech to provide Chinese Consumer Packaged Goods companies (CPGs) for better in-store execution, promotion optimisation and merchandising strategies.
According to a statement, the merger combines Trax’s best-in-class technologies with LenzTech’s in-market expertise in AI and crowdsourcing to ‘digitise’ China’s physical world of retail.
“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,” said Trax’s CCO and co-founder, Dror Feldheim.
Under the initiative, Trax will provide in-store execution solutions, market measurement and consulting services for CPG brands and retailers by leveraging its cutting-edge computer vision, machine learning and IoT platform.
Meanwhile, LenzTech, the market leader in AI-powered, crowdsourcing services in China leverages its 800,000 user base to perform tasks such as taking images of a store shelf.
With their combined platforms, both companies intend to put the power of AI into the hands of consumers across China to serve global and local brands for better auditing efficiency and enhanced insights across all store formats at unprecedented speed and scale.
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