GfK, the global leader in market insights for the technology and durable goods industry and Trax, the leading provider of computer vision solutions for retail, announced today that they have joined forces to offer technology and durable goods brands a new level of digital insights to improve in-store performance.
Through this alliance a new syndicated offering from Trax and GfK known as In-store Intelligence will be created. It answers Trade Marketing and Sales Managers’ key business questions on the status quo and sales impact of in-store execution, campaign compliance, product positioning and pricing and trade marketing budget planning. For the technology and durable good’s industry this means truly understanding their in-store reality for the first time.
The GfK-Trax alliance solution incorporates GfK’s proprietary point of sales and catalogue data, as well as Trax’s proprietary image-recognition technology, business intelligence platform and the company’s computer vision platform.
Knowing that in today’s hyper-competitive retail world shoppers demand the right range, price, promotion and overall experience in-store, Trax and GfK have moved rapidly to rollout a solution that will be available in major European countries and Brazil from today, with global expansion anticipated in the near future.
“With our Trax alliance we’re taking an important step in GfK’s mission to become the trusted and indispensable data and analytics partner of the technology and durable goods industry” said Grégoire Lemaître, Vice President, Sales Effectiveness at GfK. “Our alliance will allow us to leverage both companies’ strengths: GfK brings retailer point of sales data, deep technology and durable goods industry expertise and relationships, and analytics intellectual property. Trax brings cutting-edge image-recognition technology, a powerful dashboard and visualization business-intelligence platform, and solid in-store experience. Our strengths are complementary.”
“It’s our mission to provide leading consumer brands with ‘eyes in the store,’ working alongside GfK as the trusted source of market and consumer information for the technology and durable goods industry,” said Joel Bar-El, chairman and co-founder of Trax. “GfK possesses the largest consumer durables point of sales dataset in the industry. Together, GfK’s retail sales data and Trax’s computer vision platform will help consumer durables companies better understand how shelf and store performance directly impacts their product and brand sales.”
GfK connects data and science. Innovative research solutions provide answers for key business questions around consumers, markets, brands and media – now and in the future. As a research and analytics partner, GfK promises its clients all over the world “Growth from Knowledge”.