Growth Attributed to Market Demand and Recent Product Enhancements in Checkout Speed, Accuracy and Operational Excellence
TEL AVIV, Israel–(BUSINESS WIRE)–$SBW #AI—Shekel Brainweigh Ltd. (ASX: SBW), the leader in advanced weighing technology, announces it experienced more than 20 percent growth for its Innovendi business as global retailers look for frictionless customer shopping experiences while mitigating shrinkage risks. Innovendi is an unattended automated locked micro market cooler equipped with smart shelves, providing full autonomous solution for reliable self-service of products. The increased demand is also attributed to significant improvements in Shekel Brainweigh’s technology released in a recent major software upgrade. This upgrade improves checkout speed by 25 percent, allowing faster shopping experience with smaller queues, increased social distancing, improved performance and product recognition accuracy. The Innovendi micro market meets today’s market demand for healthier food, ready meals and specialty drinks, which are not currently offered in traditional vending machines.
“With the COVID-19 pandemic continuing to spike around the globe, consumers are limiting their contact with store staff and looking for touchless or low-touch shopping options to purchase staple items,” said Udi Wiesner, General Manager of Shekel Retail Innovation Division. “Our installed base of Innovendi machines rose by more than 20 percent as retailers and consumer packaged goods manufacturers look for foolproof options to sell their products closer to the consumers. Managements of workplaces, hospitals and facilities need solutions to replace open cafeterias. While traditional vending machines typically cannot handle food like sandwiches and salads, Innovendi is the ultimate solution for this use case.”
As more shoppers desire ultra-convenience and look more to touchless shopping experiences, vending machine and micro markets purchases continue to rise. A recent Global Industry Analysts, Inc. report finds that the global install base of vending machines will reach 29.2 million units by 2022. Driven by trends in food consumption and innovative payment options, this growth is also fueled by the penetration of smart and connected vending machines. With the current pandemic gripping the world, more consumers are looking for limited touchpoints and attendee-free shopping, signaling a seismic shift in consuming shopping habits that favor the autonomous micro market.
The latest technology update has significant benefits for the operators / retailers, including:
- Improved just-in time-replenishment algorithms, enabling availability of products and avoiding out of stock.
- Improved weighing accuracy, decreasing tampering and shrinkage and providing more than 99% accurate recognition of products
- New big data solutions providing retailers and operators better insights to make the right decisions
- Integration with Nayax – a world leading provider of vending payment solutions
- Enhanced planogram management, ensuring cooler planogram compliance with the retailer/operator ERP/VMS systems, providing consumers with the right product at the right location at the right time
About Shekel Brainweigh
Shekel Ltd. is a well-established technology market leader revolutionizing the retail industry for more than 40 years. The company combined physics, electronics and software expertise to develop digital scale technology. This technology, first implemented into self-checkout (SCO) systems by our retail partners, gave Shekel the reputation as an innovator for solutions to the global retail market. Following the last years of disruption in the retail market, the company has reinvented itself embracing the newest technologies of IoT and data analytics to enhance and enlarge its offering to the retail market, enabling retailers to adapt to the dramatic changes taking place. To learn more about Shekel Brainweigh (ASX:SBW), visit https://theshekelgroup.com/.
Marianne Dempsey/Jenna Beaucage