Smart data capture provider Scandit has announced the acquisition of MarketLab, a Polish image recognition and AI software company specialising in the retail industry.
This move will significantly enhance Scandit’s capabilities in retail shelf intelligence, offering retailers a more comprehensive and efficient solution for optimising on-shelf performance.
MarketLab brings expertise in fixed camera-based solutions to Scandit, complementing its existing ShelfView mobile capture approach.
This hybrid data capture solution addresses the significant challenges faced by retailers such as stockouts and pricing errors, which can lead to substantial revenue losses.
By automating time-consuming store operations processes, retailers can gain valuable insights into on-shelf availability, planogram compliance, and pricing issues, enabling them to make data-driven decisions and improve overall store efficiency.
The acquisition not only strengthens Scandit’s retail shelf management solution but also opens up new opportunities for collaboration with consumer-packaged-goods (CPGs) and merchandising agencies.
By providing accurate data on on-shelf availability, pricing, promotions, and planogram compliance, Scandit can help CPGs and merchandising agencies maximise their revenues.
“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," said Samuel Mueller, CEO and co-founder of Scandit.
"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 optimise the monetisation of shelf data with CPG partners."
“We are delighted to join forces with Scandit. Combining our complementary technologies, we look forward to delivering additional value, ROI [return on investment], 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," added Piotr Wardaszko, CEO of MarketLab.
The acquisition of MarketLab is a strategic move for Scandit, building upon its recent $150m Series D investment.
This funding has enabled Scandit to accelerate its research and development efforts, focusing on AI/machine learning capabilities and developing innovative products such as ID Validate, ID Bolt, and MatrixScan Find.
