Trax acquires Survey.com to deliver AI-powered, on-demand merchandising8 Apr 2020
Singapore-based retail analytics technology, Trax, acquired Survey.com, a platform that provides sales activations and merchandising services for emerging and mid-market consumer packaged goods (CPG) brands. Financial details of the transaction were not disclosed.
With this latest addition to its portfolio, Trax will now offer a closed-loop merchandising system for retail through combining its computer vision monitoring technology with Survey.com’s in-person, personalized merchandising strategies.
Trax allows brands to better manage their on-shelf availability and merchandising strategy by capturing images of products on shelves and converting them into data points that can be analyzed to improve shopper experiences. Survey.com provides sales activations and merchandising services using a crowd-based workforce to advocate for branded products, gain opportunities for promotional activity and prepare various product showcase marketing techniques for brands such as RXBar, Soylent, Waterloo Sparkling and Califa Farms.
Partnering with Survey.com not only allows Trax to combine its computer vision analytics with merchandising strategies but it also permits the Singaporean company to target emerging and mid-market brands, which Dror Feldheim, Trax co-founder called “a segment that is a significant source of growth in CPG today” in a release.
Brands that work with Survey.com experience an average “retail velocity” growth of 30%, according to the company. Locations that are activated using Survey.com’s methodology activate SKUs five times faster than traditional merchandising channels.
In the last nine months, Trax has acquired Paris-based Qopius, a computer vision platform that measures shelf performance, increase productivity, and reduce out-of-stock scenarios; French company Planorama, a supplier of image recognition services geared toward retail excecution; China-based big data and AI service provider, LenzTech; and Shopkick, the U.S.-based shopping rewards app.
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