#Sweden #Stockholm #Pricer #Focal Systems #digital shelf

Partnering for the Future of Retail

In a landmark announcement, Pricer, renowned for its cutting-edge digital shelf-edge solutions, and Focal Systems, a leader in AI-driven shelf management, have forged a strategic alliance. This collaboration aims to redefine retail by enhancing physical store digitalization through innovative technologies like AI-powered computer vision and dynamic pricing systems.

Accelerating Digital Transformation

Retailers globally face challenges in managing product availability and pricing effectively. Together, Pricer and Focal Systems are stepping up to these challenges. This partnership combines Pricer's expertise in dynamic pricing with Focal Systems’ real-time monitoring capabilities. The result? A seamless experience aimed at maximizing consumer satisfaction and operational efficiency.

Chris Chalkitis, Chief Digital Officer of Pricer, emphasized the importance of this collaboration: “Both companies share a vision for the digital transformation of traditional retail spaces. With our combined resources, we are taking significant steps toward automating processes that directly impact the shopper’s experience.”

This collaboration will leverage advanced technologies to crucially improve the management of physical store environments. By integrating Focal Systems' shelf vision cameras with Pricer's renowned electronic shelf labels (ESLs), retailers will obtain real-time data on product availability. They will also enhance labor efficiency and reduce instances of out-of-stock products, ultimately increasing sales and customer satisfaction.

Key Features of the Collaboration

1. Real-Time Shelf Insights

The integrated solution will allow for automatic alerts regarding low stock or out-of-stock items. This data empowers retailers to perform rapid replenishment, ensuring shelves remain stocked and customers are satisfied.

2. Dynamic Task Automation

The collaboration also focuses on streamlining workflows. Retail staff will benefit from automated task prioritization, enabling them to focus on what matters most—serving customers effectively.

3. Patented Innovations

Combining camera-based out-of-stock detection with ESL technology signifies a leap forward. The technology will allow for flashing ESLs to signal restocking needs and communicate product locations effectively.

4. Seamless Integration

Standardized API connections promise an effortless transition for retailers, delivering immediate value. The API will facilitate synchronized messaging updates and shelf-edge intelligence, all designed to work out-of-the-box.

Future Outlook

This innovative solution will be showcased at the National Retail Federation (NRF) Big Show in January 2025, marking a vital moment for both companies. At the event, Pricer and Focal Systems aim to reveal how this partnership will benefit retailers and modernize in-store experiences.

Kevin H. Johnson, CEO at Focal Systems, expressed his enthusiasm for the partnership, stating, “Together, we are creating immense value by simplifying complex operations, automating workflows, and significantly improving the in-store retail experience.”

With this collaboration, Pricer and Focal Systems not only aim to enhance individual stores but also set a new benchmark for innovation across the retail industry, leading to greater customer satisfaction and loyalty. As the retail landscape continues to evolve, this partnership represents a significant step towards a fully digitalized retail ecosystem.

Conclusion

As consumers increasingly expect seamless shopping experiences, the blend of dynamic pricing capabilities and advanced AI solutions positions Pricer and Focal Systems as pioneers in the retail digital landscape. Their collaborative efforts will no doubt pave the way for a more intelligent and responsive retail environment, where customer needs are met efficiently and effectively.