Most people are familiar with smartphones, smartwatches and even smart homes.
Now smart shopping carts are spreading worldwide, and one Israeli company says it is getting itself into a position to capitalize on the trend.
A2Z Smart Technologies Corp. AZ AZ reports teaming up with global IT company Accenture Italy to increase its brand recognition and expand the market presence of the Cust2Mate Smart Cart Platform in Europe.
The agreement is meant to promote Cust2Mate products and offerings to partners and customers; integrate smart carts to new locations in Europe; and provide smart cart maintenance and support.
A2Z’s Cust2Mate Smart Cart will be on display in the Accenture Innovation Center in Milan, Italy, which boasts a robust and innovative retail sector.
Cust2Mate’s reportedly user-friendly algorithm, touch screen and computer-vision system streamline shopping by automatically scanning products and enabling in-cart payment so customers can bypass long checkout lines.
Cust2Mate also provides shelf heatmaps for targeted advertising, direct marketing and special promotions that encourage fuller shopping carts, which generate increased sales. The company says the smart carts communicate with store management, keeping track of each shopper’s activities, preventing fraud and automatically issuing restocking alerts.
“We are thrilled to be partnering with a company that has the global influence and recognition of Accenture,” A2Z CEO Bentsur Joseph said. “Italy represents a key opportunity for Cust2Mate and an entry point for Europe. We believe that by partnering with Accenture and accessing their vast network of connections and capabilities, it will allow us to establish a strong foothold in the European frictionless retail market.”
Retail Expansions Driving Smart Cart Growth?
The consumer shopping cart market is expected to reach an estimated $86.4 million by 2026 at an accelerating compound annual growth rate of 2.05%, according to a report by market research firm Technavio.
The growth is driven by the increasing number of retail stores globally — particularly supermarkets and hypermarkets. For example, Carrefour, a French multinational retailer, plans to build its next-generation convenience stores in Paris in conjunction with AiFi, a U.S.-based automated retail startup.
A number of companies are testing the smart cart market around the globe. Amazon.com Inc.’s AMZN Dash Carts, Kroger Co.’s KR KroGo carts and Foodstuffs’ SmartCarts are in use in New Zealand, and Empire Co. Ltd.’s EMLAF Sobeys Smart Cart in being tried out in Canada. Albertsons Cos. Inc. ACI has just begun testing Seattle startup Veeve carts.
Earlier this month, A2Z received a follow-on order for an aggregate of 1,000 Cust2Mate carts from Israeli supermarket chain Yochananof, bringing the total value of orders received to $10 million.
A2Z also recently introduced its carts in Asia, which is expected to see the highest growth rate of 36.2%, according to the Technavio report.
For more information about A2Z Smart Technologies Corp., visit www.A2ZaS.com.
The preceding/following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and Skyline Corporate Communications Group, LLC, a financial partner of Benzinga. This article/video is a paid sponsorship by investor relations agency Skyline Corporate Communications Group, LLC, which is paid by A2Z Smart Technologies Corp. AZ (TSX.V: AZ) for providing investor relations and corporate communications services relating to the Company’s securities. Please see Skyline's 17(b) Disclaimer and Disclosure Statement here: https://skylineccg.com/disclosures/.
Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content that follows is for informational purposes only and not intended to be investing advice.
Photo by Sora Shimazaki on Pexels
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.