Symphony RetailAI acquires image capture, recognition tech provider

Symphony RetailAI, a leading global provider of integrated AI-powered marketing, merchandising, and supply chain solutions for retailers and manufacturers, has acquired ReTech Labs, a global SaaS provider of real-time image capture and recognition technology. 

Through ReTech, retailers and CPG teams are able to manage on-shelf availability, eliminate out-of-stock issues and distribution voids, and ensure the compliance and execution of planograms, pricing and promotions. According to Symphony RetailAI leadership, the new acquisition can help retailers better market private label products.

“At a time of rising costs for retailers and increased disruptions in the supply chain, including supply of national brands, retailers need to strategically position and leverage their store brand items, which generally have higher margins and more supply chain control,” Andy Harris, director of store intelligence at Symphony RetailAI, told Store Brands. 

“With the combined Symphony RetailAI and ReTech capabilities they can get real-time visibility on actual planogram and price retail execution at the store level daily. Knowing what’s actually on-shelf during the day, including both store brands and national brands, enables them to get real-time detail on planogram effectiveness and understand how they can improve customer satisfaction, availability and compliance. The ‘Realogram’ of what’s actually on the shelf is available in seconds, enabling category managers to give real-time instructions to store associates to remedy problems.”