Start-ups in retail technology are growing and Retail Week is highlighting some of the best. This week Trax is in the spotlight.
Trax is an image recognition tool that staff can use in-store to monitor stock levels and sales accurately and efficiently. Co-founder and chief executive Joel Bar-El explains more.
Key facts
Founded 2010
Investment £25m from investors including Singapore’s Broad Peak Master Fund
Retail partners Dollar General
Founders Joel Bar-El and Dror Feldheim
What it does
Trax is an image recognition and analytics platform. The in-store shelf monitoring tool is available on tablet and mobile devices and can be used by employees to monitor sales and stock levels, as well as optimise product visibility.
Joel Bar-El says: “Trax analyses images of the store shelf and delivers real-time insights such as the assortment of products on the shelf, share of shelf and the promotions in the store.”
The technology is designed to help retailers monitor product layout and maximise customer engagement at all points of sale.
How does the technology help retailers?
Trax’s image recognition technology affords retailers insight into which products are selling well and how shoppers are responding to in-store displays and marketing promotions.
By giving real-time feedback on sales, Trax enables staff to adjust store layouts to boost sales and understand which branded and own-brand stock is appealing to shoppers.
Trax also significantly reduces the time an employee needs to spend on audits to check inventory, shelf display and product promotions.
More information: TraxRetail.com
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