It’s often said that the world of business is cut-throat, and with an approximate estimate of over 333 million companies worldwide, it’s easy to see why this viewpoint has prevailed over the years.
With a value of $5.3 trillion in annual sales, the CPG (Consumer Packaged Goods) sector is an immensely competitive space. Regardless of the product your company specialises in, there is always significant competition as existing companies venture into new markets and new brands appear on the market to challenge the status quo.
However, due to numerous economic and geopolitical factors, more than half of all CPG companies are on track to grow below the market (rate) by 2027. The data from Kearney shows that inefficient supply chains will cost CPGs a potential $800 billion. However, it’s clear to see that this deficit will only intensify the competition in the CPG space and force all but the top brands to compete for a lesser pool of revenue.
While there is a significant amount of risk involved, the biggest brands all scale their businesses to reach as many consumers as possible. However, for scalability to genuinely work for all CPGs (including those that are more risk-averse), there needs to be an affordable solution that helps CPGs resolve many of the issues associated with global scalability.
Thankfully, one affordable solution you’ve been searching for is already here. In this article, we will explore how Neurolabs' ZIA offers groundbreaking image recognition tech that easily integrates with existing platforms to help CPGs resolve several issues, such as retail store execution and inventory management. Read on to find out how our AI-powered solution delivers scalability and efficiency to help CPGs of all sizes compete in a crowded and fast-growing industry.
What is ZIA?
ZIA stands for Zero Image Annotations and is our groundbreaking technology revolutionising in-store image recognition for CPGs.
Eliminating the need for manual annotations and even real data itself, ZIA uses 3D assets of CPG products (synthetic data) in virtual scenes (synthetic computer vision) to deliver product detection and in-shelf insights more accurately and faster than any other solution that is currently available.
Neurolabs’ ZIA technology can simulate SKUs in multiple retail scenarios from just packaging labels resulting in a product detection rate of 95% from day one (and 98%+ for specific SKU categories).
What are the benefits of ZIA for CPGs?
Neurolabs’ ZIA delivers numerous benefits for CPGs regardless of their size or industry focus.
Thanks to the power of synthetic data and the synthetic computer vision that drives ZIA, we deliver a wealth of perks and benefits to help CPGs, providing them with an easily integrable, cost-effective and scalable image recognition solution.
Global scalability
ZIA can deliver accurate and consistent performance to CPG brands of all sizes, even those with a considerably extensive catalogue that extends to multiple markets and territories.
Neurolabs’ ZIA offers an efficient and cost-effective way to scale operations globally by streamlining product catalogues across multiple retail regions and locations with ease. With ZIA, there is no lengthy onboarding process either, as our solution is ready to be used across your entire product line in as little as one week.
Besides being fast-to-market, ZIA is a robust technology that works accurately across thousands of store locations. At Neurolabs, we make use of the same standardised process to set up the technology and ensure it is capable of detecting your products in every territory.
By accessing your master product catalogue ZIA not only saves you time (e.g. taking lots of real store images or providing reference product images) but also provides you with a platform that allows you to enter new markets without image recognition concerns.
In addition, ZIA also allows users to tweak their inventory over time, making it incredibly effective at providing IR for their new products/any promotions as and when they launch. ZIA can achieve all of this and more without compromising performance when scaling your catalogue.
Cost efficiency
Synthetic data generation is a far more cost-effective way to gather data for image recognition learning models than real data, as it requires minimal human input to collect and verify data sets.
As the name of our software implies, ZIA requires Zero Image Annotations as its synthetically trained model allows it to automatically detect individual products. Therefore, our image solution is not only cost-efficient but saves considerable time and effort, allowing CPGs to get IR on their latest products and hit the ground running when onboarding our technology.
Ease of integration
At Neurolabs, we are aware that many CPGs may already have invested in image recognition technologies to enhance their operations and, as such, aren’t looking for an all-in-one solution. However, with ZIA, we offer a service that effortlessly integrates with existing SFA tools (including third-party SFA or internal tools) and enhances their processes with the power of synthetic data.
ZIA is able to work with an existing SFA solution (or even a different SFA solution per region or location). It is intuitive enough that your staff do not require additional training to learn the ropes of how the platform works. However, should you need any assistance to help get ZIA implemented in your pipeline, we have a team of dedicated and knowledgeable experts on hand to answer any questions or concerns you may have.
Boost your revenue with Neurolabs’ ZIA
ZIA is a genuine game-changer allowing your brand to improve your processes and dramatically boost your revenue.
Accurate, reliable, cost-effective and easily integrated with existing technologies, ZIA is the next-generation tech that will fundamentally change your perception of image recognition.
With ZIA, you can achieve better detection accuracy, a faster time-to-market, lower set up and maintenance costs while easily being able to streamline product catalogues across multiple retail locations and countries. Say goodbye to your existing inaccurate and inefficient platform today and embark on a journey of discovery with the image recognition solution of the future.
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At Neurolabs, we are revolutionising in-store retail performance with our advanced image recognition technology, ZIA. Our cutting-edge technology enables retailers, field marketing agencies and CPG brands to optimise store execution, enhance the customer experience, and boost revenue as we build the most comprehensive 3D asset library for product recognition in the CPG industry.
