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Shopic to Deploy 2000 Smart Carts in Partnership with Israel’s Leading Supermarket Chain

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Tel Aviv, Israel–(Newsfile Corp. – February 21, 2023) – Today, smart grocery cart provider Shopic has announced a full-scale rollout of its solution in Shufersal stores across Israel. Shufersal, Israel’s leading supermarket chain, is moving quickly to deploy Shopic smart cart clip-on devices, committing to roll out at least 2000 units across 30 stores by the end of March 2023.

Photo credit: Shopic

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The planned increase in Shopic carts marks a milestone for the global smart cart industry, with no other provider having reported full commercial-scale deployments to date. “Shufersal’s rapid ramp-up helps place Shopic at the head of the field for smart cart solutions,” said Raz Golan, Shopic’s CEO and co-founder. “This is a deployment of unprecedented scale, and it validates our vision for the future of frictionless grocery shopping experiences.”

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Shopic offers a clip-on device that is compatible with standard existing fleets of grocery carts, removing the need for grocers to invest heavily in upgrading store network infrastructure and making the system quick and easy to deploy.

The Shopic device uses artificial intelligence (AI) in the form of computer vision algorithms, which can identify every item placed in the cart. Shopic’s system detects when an item is added or removed from the cart with 99.4% accuracy.

The Shopic screen displays a real time tally of products and prices so shoppers can keep track of purchases, and enables frictionless self-service payment and checkout, fully synced with store loyalty programs. The interface can be used to ask customer service representatives for help navigating the store. It also operates as a screen for retail media, surfacing personalized sales promotions of related products and other sponsored content.

From the grocer’s perspective, data collected anonymously from Shopic’s smart carts helps to optimize inventory, store layouts and staffing, while identifying new trends in consumer preferences. It also strengthens customer relationships by reducing shopping experience friction and differentiating from competitors.

Shufersal stores that have piloted Shopic-enabled smart carts to date have reported that 12 to 15% of their revenue was processed by Shopic’s solution. When using Shopic, customers’ basket sizes were 78% larger than average, and monthly spending by these shoppers rose by 8%.

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Consumers likewise enjoyed accelerated checkout times, which took less than one minute when using Shopic’s smart carts, compared to 3.5 minutes when using self-checkout lanes and 9 minutes when using cashier lanes. Shopic has also enjoyed strong positive feedback from shoppers, consistently scoring an average of 85-95% in customer satisfaction scores.

“Shopic provides a superior technological solution that delivers all the benefits of online shopping to physical stores in a personalized, effective and fully transparent manner – without the need to wait in the checkout line,” said Ori Watermann, CEO of Shufersal. “The artificial intelligence powering the technology enables us to constantly improve the shopping experience of our customers based on their purchase habits.”

The announcement of Shopic’s expanded Shufersal deployment comes after a year of significant growth for the company, during which it raised $35 million of venture capital investments in a Series B funding round led by Shufersal and other investors, doubled its workforce to 80 employees, and saw new pilot deployments in major supermarket chains in North and South America.

About Shopic

Shopic provides smart cart and store digitalization solutions to the world’s leading grocers, bringing the advantages of online commerce to their physical stores. The company’s computer vision-based clip-on device turns any regular shopping cart into a smart cart. It delivers a smooth shopping experience, instant on-cart checkout, just-in-time personalized promotions, and analytical insights from the retail floor. Founded in 2015, Shopic is headquartered in Tel Aviv, Israel. For more information, visit Shopic.co.

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About Shufersal

Shufersal is the largest retail food chain in Israel with 395 branches and 16,600 employees. In addition to its supermarkets, the Shufersal Group operates the digital wallet PayBox, the pharma chain Be, the convenience store chain Dan-Deal, the B2B brand Shufersal Business, and Shufersal Real Estate, a property reclamation arm. For more information, visit shufersal.co.il.

Media Contact:
Dan Edelstein
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/155428

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

LCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape

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Bybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws

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Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)

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Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:

BlackRock ETF Embraces Blockchain with First Muni Bond Purchase

BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.

By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.

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Source: Yahoo Finance

Plume Secures Funding for Tokenization Platform

Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.

Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.

Source: Fortune

SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips

SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.

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As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.

Source: The Quantum Insider

Deutsche Bank’s Public, Permissioned Blockchain Initiative

Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.

The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.

Source: CoinDesk

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KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands

Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.

By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.

Source: PR Newswire

Industry Implications and Key Takeaways

Today’s developments highlight the transformative potential of blockchain across multiple domains:

  1. Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
  2. Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
  3. Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
  4. Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
  5. Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.

The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.

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