TEL AVIV, Israel, May 11, 2021 /PRNewswire/ -- Stor.ai, (fka Self Point) the end-to-end digital commerce solution for grocers, today announced a new partnership with Trax, a leading computer vision company transforming brick-and-mortar retail. Through the partnership, stor.ai and Trax will equip North American grocery retailers with a one-stop, holistic solution for processing, fulfilling, and delivering online orders. Combining stor.ai's Picking App and Trax's on-demand crowd marketplace will enable retailers to respond to online order surges efficiently and cost-effectively.
The Covid-19 pandemic expedited the shift toward online grocery shopping. The projected total value of digital grocery sales in 2025 is now 60 percent higher than pre-pandemic estimates. The e-commerce boom has intensified demand on grocers, who cannot prosper without widespread online activity and therefore need new methods to make picking, delivery and collection services more cost-effective.
Stor.ai's partnership with Trax allows grocers to respond to this rapid transformation. As a result of the partnership, stor.ai will incorporate Trax Flexforce, an on-demand crowd marketplace, into its holistic, one-stop offering for grocers, enabling them to fully integrate their digital and physical presence. Stor.ai's online platform includes a white-label e-commerce solution seamlessly integrated with grocers' legacy systems, and a Picker-App, which customizes and maps in-store grocery fulfillment. Trax Flexforce's on-demand crowd marketplace provides access to more than 1.4 million experienced retail representatives across North America and supplies stores with the right person for the task through its proprietary matching algorithm that processes store experience, location, and workload. Together, stor.ai and Trax will pave the way to empower grocers to keep up with demand, both in-store and online.
"With the exponential increase in online sales there is a clear need to provide holistic solutions for retailers to provide customers with positive online shopping experiences without straining their budgets," said Mendel Gniwisch, EVP Business Development, stor.ai. "I am delighted to partner with Trax, a trailblazer in the industry, to further our ambition to create a one-stop solution which is easily accessible for all kinds of grocers, who are constantly striving to preserve their unique and distinguishing features while offering consumers the conveniences they have come to expect."
"Our partnership with stor.ai further enables us to meet the growing demand for transformational solutions to longstanding retail pain points," said Bob Kothari, chief revenue officer of Trax. "With online grocery shopping continuing to rise, we are pleased to partner with stor.ai to help retailers adapt to this unprecedented period of industry growth."
Stor.ai (fka Self Point) is the leading digital transformation partner for retailers and wholesalers of all sizes, providing immersive and enriching experiences across digital touchpoints inside and outside the store. Serving as a change agent for the industry, the stor.ai technology suite supports food retailers' transition to online, integrating fulfilment methods and point of sale and retail catalogues into a mobile-first, custom-branded eCommerce experience within days. Stor.ai's digital commerce engine combined with Artificial Intelligence, omnichannel marketing tools and delivery logistics software, elevates customer experience and loyalty and results in increased sales and profit. Founded in 2014, stor.ai has a growing client and partner base including Unilever, Toshiba, Microsoft and more.
Trax's mission is to enable brands and retailers to harness the power of digital technologies to produce the best shopping experiences imaginable. Trax's retail platform allows customers to understand what is happening on shelf, in every store, all the time so they can focus on what they do best – delighting shoppers. Many of the world's top CPG companies and retailers use Trax's dynamic merchandising, in-store execution, shopper engagement, market measurement, analytics, and shelf monitoring solutions at scale to drive positive shopper experiences and unlock revenue opportunities at all points of sale. As pioneers in computer vision, Trax continues to lead the industry in innovation and excellence through development of advanced technologies and autonomous data collection methods. Trax is a global company with hubs in the United States, Singapore, France, Israel and China, serving customers in more than 90 countries worldwide. To learn more, visit www.traxretail.com.
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SOURCE Stor.ai; Trax