With this acquisition, CPG companies can now leverage on-demand platforms that can deploy auditing services in near real-time, rather than traditional research methods that can take weeks.
SINGAPORE, January 18, 2018: Trax, the leader in computer vision and analytics for the retail and consumer goods industry, today announced the acquisition of US-based Quri, the leader in crowdsourced instore conditions data for the Consumer Packaged Goods (CPG) industry.
Trax’s acquisition is in response to the growing CPG appetite to leverage on-demand platforms that can deploy auditing services in near real-time, rather than traditional research methods that can take weeks.
The combination of Trax’s computer vision solutions and Quri’s agile, on-the-ground, execution will mean CPG customers in the US will have greater access to real-time insights, at speed, scale and coverage to inform their in-store strategies, retail execution and category planning.
Quri uses crowdsourcing, a model which leverages large groups of individuals to perform paid “microtasks”, like taking images of a store shelf. The company maintains its own nationwide force of consumers, to measure store-by-store execution gaps so its CPG customers can gain data-driven insights on key merchandising initiatives both on and off shelf. Quri is the global leader in crowdsourcing – active in 6,000 US cities, with access to 150,000 stores, and generating 50,000 surveys each month.
Trax’s breakthrough computer vision and analytics platform turns photographs of retail shelves into insights that can be used to improve in-store execution strategies. This enables companies to easily correct issues such as out-of-stock or incorrectly placed items, identify category opportunities and implement smarter sales strategies.
With this acquisition, Trax customers will gain significantly increased auditing efficiency and enhanced insights into full store conditions across various areas in an outlet.
This latest announcement from Trax follows a flurry of 2017 milestones including their US acquisition of Nielsen Store Observation and their largest funding round to date of US$64 Million.
“We are committed to delivering to our customers fast, granular and actionable shelf and store insights and we are delighted to be able to attract a business with the track record and reputation that Quri has, as we see a good strategic fit in combining our businesses, said Joel Bar-El, CEO at Trax. “This marks a significant milestone for Trax in our mission to digitizing the physical world of retail by leveraging the power of the crowd.”
Justin Behar, CEO at Quri, said: “Trax has experienced impressive growth over the last few years. Its approach to innovation, and commitment to superior customer service, is one that aligns closely to our core values. Leveraging the natural synergies between our two companies, our customers will benefit greatly from Trax’s industry leading platform and analytics capabilities.”
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Notes to editors
Press Contact:
Fei Fei Ho, Trax, VP Marketing & Communications, Global
feifei@traxretail.com; +65 9775 5569
About Trax
Trax 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. The company enables tighter execution controls in-store and the ability to leverage competitive insights through their in-store execution tools, market measurement services and data science to unlock revenue opportunities at all points of sale. Trax does this using smartphones and tablets to gain actionable shelf analytics in real-time. With over 175 clients, in over 50 countries, top brands such as Coca-Cola, AB InBev, Nestle, Henkel, PepsiCo and many more, leverage Trax globally to manage their in-store execution and increase revenues at the shelf. Trax is headquartered in Singapore with offices worldwide. To learn more about Trax, please visit www.traxretail.com.
About Quri
Quri is the leader in Performance Driven Merchandising™, transforming the in-store experience by providing continuous, real-time, store-level visibility into merchandising conditions across all major channels and retailers in the US market. Heineken, Nest, Red Bull, Campbell’s, KraftHeinz, Mondelez plus 100+ other global companies rely on Quri to help optimize the $4 trillion dollars spent annually on retail go-to-market and in-store merchandising. Quri is powered by proprietary data quantifying the shopper view in-store and collected by an on-demand retail workforce. For more information on Quri or Performance Driven Merchandising™, visit www.quri.com.
