Last month, Singapore-based Trax was finalising a deal to raise $100 million at a pre-money valuation of about $1.1 billion.
The image recognition software developer was reported to have just acquired Shopkick, an app that offers rewards to shoppers who browse online offers, watch video ads, visiting a retail store, or scanning barcodes on shelves.
With the acquisition – for an undisclosed amount – Trax now adds a customer-tracking service to its retail technology offerings that includes computer vision technology and analytics tools.
One of the California-based Shopkick’s programmes provide data and insights into customer behaviour and loyalty for brands, such as eBay, Lego, and Unilever.
According to this, seller SK Telecom Co acquired Shopkick for US$200 million in 2014.
Trax CEO Joel Bar-El said, “Bringing together shelf and shopper data will deliver new and powerful insights to consumer packaged goods brands and retailers.”
Earlier in June, Trax announced its merger with LenzTech, China’s leading retail AI and Big Data service platform.
The merger will see AI and analytics work together to empower brands in China, digitising its massive physical retail industry and improving auditing efficiency and enhancing insights.
With much talk in recent years about how retail seems to be dying in Singapore, perhaps this might change the way people shop offline as brands incentivise the action and encourage more to shop at retail stores.
Featured Image Credit: Trax
