BEIJING & SINGAPORE, June 3 (Bernama-BUSINESS WIRE) — Trax, the world’s leading provider of computer vision and analytics solutions for the retail industry, and LenzTech, China’s leading retail AI and Big Data service platform, are joining forces to provide Chinese Consumer Packaged Goods companies (CPGs) with greater visibility into store conditions for better in-store execution, promotion optimization and merchandising strategies. The merger combines Trax’s best-in-class technologies with LenzTech’s in-market expertise in AI and crowdsourcing to ‘digitize’ China’s physical world of retail.
Trax provides 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 – which turns photos of retail shelves into granular, actionable shelf and store-level insights. Top brands and retailers leverage Trax in over 50 countries, to drive execution excellence and increase sales and market share.