Unlocking Transparency in Brick-and-Mortar Retail with Trax Retail Solutions

As the world's leading image recognition brand for the retail industry, Trax Retail Solutions has revolutionized the way retailers and manufacturers track their stock and inventory. Founded in 2010 by Dolev Bar-El and Dror Feldheim, the company has grown exponentially over the years, with its annual revenue doubling every five to six years.

In a recent interview on the 30 Minutes or Less podcast, hosted by Navot Volk and Aviv Frenkel, Bar-El shared insights into Trax's journey and the challenges it faced during the Covid-19 pandemic. The crisis forced many retailers to adapt quickly, with some making significant changes to their business models.

For Trax, the pandemic presented an opportunity to refine its team structure and make adjustments to its growth strategy. 'We realized our growth would slow down, and decided to make adjustments accordingly,' Bar-El explained. Despite the challenges, Trax's valuation soared above $1 billion, making it a unicorn company.

Trax operates in 20 countries and has offices in 87 locations worldwide. The company's image recognition and computer vision analytics tools enable retailers and manufacturers to keep track of their stock and inventory, ensuring that products are displayed prominently on shelves and prices remain competitive.

According to Bar-El, most of Trax's clients are brands and manufacturers seeking to optimize their shelf space and promotional strategies. 'Trax operates in the pretty boring sector of brick and mortar retail and tries to digitize it,' he said. By providing transparency into product placement and pricing, Trax helps its clients make informed decisions about their business.

In an industry where Covid-19 accelerated the shift towards online shopping and reduced foot traffic in stores, Trax's solutions are more crucial than ever. 'A big portion of a brick-and-mortar retailer's business model has to do with impulse buying,' Bar-El noted. As consumers return to physical stores, retailers need tools like Trax to maximize their sales potential.

With its sights set on going public in the near future, Trax Retail Solutions is poised for continued growth and expansion. The company has raised $370 million in funding to date, with a valuation of over $1 billion. As it continues to innovate and disrupt the retail industry, Trax is well-positioned to remain a leading player in the image recognition space.

Overall, Trax Retail Solutions' commitment to transparency and innovation has enabled it to thrive in an ever-changing market. By unlocking the secrets of brick-and-mortar retail, Trax is empowering retailers and manufacturers to make data-driven decisions that drive business growth and success.

Trax retail solutions