Scandit acquires MarketLab to transform retail shelf management with advanced data capture technology

Scandit, the global leader in smart data capture, has announced its acquisition of shelf audit automation technology from MarketLab, a Polish company renowned for its image recognition and AI software tailored to the retail industry. This strategic move will see MarketLab’s expert team integrate with Scandit, enhancing their existing ShelfView mobile capture technology with advanced fixed camera solutions.

Enhancing Shelf Intelligence with Hybrid Data Capture

The acquisition is set to revolutionize retail shelf management by combining Scandit’s mobile capture approach with MarketLab’s fixed camera expertise. This hybrid solution aims to address the retail sector’s substantial annual losses—approximately $634 billion—caused by on-shelf availability issues, according to research by the IHL Group. The new system will offer retailers a comprehensive solution for monitoring on-shelf availability, planogram compliance, pricing issues, and more, driving improvements in store conditions and maximizing sales.

Boosting Efficiency and Automating Operations

The integration of fixed cameras with Scandit’s ShelfView technology will provide continuous, high-frequency data capture, enhancing store operations. Retailers will benefit from near-real-time notifications, allowing for prompt resolution of issues and improved key performance indicators. The solution will enable store associates to focus on higher-value tasks such as customer engagement, thus improving overall store efficiency and performance.

Samuel Mueller, CEO and co-founder of Scandit, emphasized the significance of this acquisition: “The integration of MarketLab’s fixed camera technology into ShelfView is a milestone in our evolution. It enhances our capability to support retailers in boosting store performance, associate efficiency, and shelf data monetization with consumer packaged goods partners.”

MarketLab CEO Piotr Wardaszko expressed enthusiasm about the collaboration, stating, “Combining our technologies will deliver increased value and insights to grocery retailers worldwide, enhancing stock visibility and the overall customer experience.”

A Comprehensive Retail Solution

Scandit’s ShelfView, already known for its advanced object recognition and augmented reality capabilities, will benefit from the added accuracy and efficiency provided by MarketLab’s technology. The AI and machine learning-driven solution boasts a 99.7% alert accuracy, crucial for reliable insights in dynamic shelf situations.

The acquisition positions Scandit to leverage its extensive retail customer base—including eight of the top ten US grocers—and MarketLab’s existing clients like Carrefour Poland. This strategic move is expected to drive further growth and innovation in retail, as well as explore potential applications in warehousing and logistics automation.

A New Growth Phase for Scandit

This acquisition marks a significant milestone in Scandit’s growth trajectory. Following a $150 million Series D investment in 2022, Scandit has accelerated its R&D efforts, leading to advancements in AI and machine learning technologies. Scandit continues to push the boundaries of smart data capture, enhancing workflows, employee retention, and customer loyalty.

Scandit specializes in smart data capture, providing solutions that empower businesses by delivering actionable insights and automating processes across various devices. With a focus on speed, accuracy, and intelligence, Scandit’s platform supports a wide range of applications, from smartphones and handheld computers to drones and fixed cameras.