Singapore-based retail tech unicorn Trax announced that it has acquired Survey.com, which provides sales activation and merchandising services for emerging and mid-market consumer packaged goods (CPG) brands.
Under the collaboration, Trax aims to create a “closed-loop merchandising system for physical retail,” according to a statement. It will enable CPG brands and grocery retailers to harness a computer vision-powered, on-demand labor solution to address merchandising needs.
For instance, Trax’s in-store execution and retail analytics solutions are powered by image recognition algorithms and convert photos of retail shelves into actionable store-level insights. With the acquisition, Trax will broaden its reach across CPG brands.
Headquartered in the US, Survey.com counts fast-growth, emerging, and mid-market brands as clients. These include US-based food and beverage firms Califia Farms, GoMacro, Soylent, and Waterloo Sparkling, as well as brokers such as CA Fortune, among others. Its customers use its data platform and execution network to increase their “retail velocity” by 30%, the company claims.
The deal comes less than one month after Trax acquired Paris-based Qopius, which provides AI-based in-store tech solutions in Europe. The company has also made acquisitions across China, Europe, and North America within the last nine months.
This article first appeared in Tech in Asia.