Trax will help CPGs and retailers operating in the Greater China Region (GCR) gather real-time intelligence on how their products are performing in store, and optimize their in-store execution to drive smarter sales strategies.
SINGAPORE, 2018-Feb-03 — /EPR Retail News/ — Trax, the leader in computer vision and analytics for the retail and consumer goods industry, today (January 31st, 2018) announces its entrance into the Greater China market. Trax, which operates in over 50 countries and works with global Consumer Packaged Goods (CPGs) manufacturers and retailers, brings its full suite of solutions to this competitive, and rapidly changing market.
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 ability to digitize the physical world of retail means that CPGs and retailers operating in the Greater China Region (GCR) can gather real-time intelligence on how their products are performing in store, and optimize their in-store execution to drive smarter sales strategies.
Trax is expanding its operations quickly in the GCR with the strong support of its investor, global private equity firm, Warburg Pincus. Trax expects to replicate the success it has seen in the US market, where it has grown exponentially in the past 18 months, and has now established offices in San Francisco, New York and Atlanta. This latest announcement from Trax follows its recent acquisition of Quri, the leader in crowdsourced in-store conditions data for the CPG industry.
“Trax has built impressive momentum over the past year, with strategic partnerships, acquisitions and solid growth in global markets. China’s retail market is one of the largest in the world and we believe this is the right time for Trax to enter”, said Nancy Wang, Managing Director of Greater China Region at Trax. “The company is already serving many global companies like Coca-Cola and P&G in the market and we have had a very positive reception from local Chinese giants in the industry. As a result, we plan to open offices in Beijing, Shanghai and major cities throughout China. Not to mention, we are exploring the possibility of developing a large support center in China to support Trax’s projects globally.”
The Chinese retail landscape is becoming increasingly complex and requires CPG and retailers to ensure that they have full visibility of how their products perform across different store types. They need to be able to quickly identify issues such as out-of-stock items, incorrect shelf plans and improve speed-to-shelf for new product launches.
Trax is the only company in the world that has a fully automated, real-time platform for SKU level recognition that can work offline, or online. With Trax, global CPG clients see out-of-stock rates reduced by 10-15% and overall category sales increased by 3-5%.
“The Chinese retail market is highly sophisticated and competitive, which is pushing CPGs to excel, innovate and differentiate. Trax offers these companies the ability to transform the way retail execution is conducted” said Joel Bar-El, CEO at Trax. “We bring a new digitized experience which did not exist before. And unlike other markets, China is exceedingly open to embrace this type of innovation and the numerous advantages which our technology, solutions and services brings.”
Notes to editors
About Trax
Trax is the world leader in computer vision solutions and analytics 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.
Press Contact:
Fei Fei Ho
Global VP Marketing & Communications
Trax
feifei@traxretail.com
+65 9775 5569
Source: Trax