Agreement with Mashgin to bring 10,000+
computer vision-based, next-generation self-checkout machines to
stores in the U.S., Canada and
Europe follows successful
deployment in nearly 500 locations
LAVAL,
QC and PALO ALTO,
Calif, June 2, 2022 /PRNewswire/ - Alimentation
Couche-Tard Inc. (TSX: ATD) ("Couche-Tard") one of the world's
largest convenience retailers, today announced it will deploy more
than 10,000 Mashgin Touchless Checkout Systems branded as "Smart
Checkout," to over 7,000 of its Circle K and Couche-Tard stores
during the next three years. The AI-powered self-checkout system
developed by Mashgin will improve customer checkout times as much
as 400%, driving customer experience forward while allowing store
staff to focus their time on helping customers. View a short
video of the Circle K Smart Checkout experience here.
The agreement with Mashgin launches the global deployment of the
pioneering system, and represents one of the largest scale
expansions of computer vision-powered checkout technology to date.
It builds upon the successful deployment of Mashgin across nearly
500 Circle K locations in the U.S. and Sweden since 2020, as well as at Couche-Tard's
retail innovation lab store on the campus of McGill University in Montreal.
Referred to as "Smart Checkout" in Circle K and Couche-Tard
stores, the Mashgin Touchless Checkout System is a compact
countertop device that fits easily into the existing store layout.
It uses computer vision to recognize items presented from virtually
any angle and instantly ring them up in a single transaction.
Customers place their items on the Mashgin Touchless Checkout
System, which uses cameras to ring up everything in under a second.
There is no need to download an app or find and scan barcodes;
shoppers simply put items down, pay as they normally would, and are
on their way in as little as 10 seconds – eight times faster than
traditional self-checkout.
"We're committed to investing in and scaling technology that
sets a new standard for convenience with our customers and advances
our mission to make our customers' lives a little easier every
day," said Magnus Tägtström, Vice President, Global Innovation at
Couche-Tard. "The Smart Checkout system powered by Mashgin's
game-changing technology shortens lines, improves the customer
experience and frees up our teams to focus on helping our
customers. We look forward to introducing this new platform to
stores across our network."
Mashgin Chief Technology Officer and co-founder, Mukul Dhankar stated, "Mashgin's core technology
represents a major breakthrough in the world of artificial
intelligence. By reinforcing computer vision models with
three-dimensional data, we are able to reach 99.9% accuracy when
ringing items. This innovation also allows the system to easily
differentiate between different sizes of items with a similar
appearance, and also makes it flexible enough to recognize
grab-and-go foods like pizza or roller grill items that may look
slightly different each time. Another key component to our
technology is its ability to learn new objects in less than a
minute and sync that data across stores, making it possible to set
up a new store in under an hour."
Surveys of first-time Mashgin users at deployed Circle K
locations show that 80% of those customers prefer Mashgin to
traditional forms of checkout and self-checkout. Recent updates to
the system to allow cash use, fuel purchase and key loyalty
programs like Sip & Save have driven customer adoption. At some
Circle K stores, Smart Checkout has already become customers'
favorite way to transact.
"We've been hearing great feedback from our customers in the
stores where Smart Checkout has been introduced, and it's easy to
see why. Mashgin's platform is incredibly simple to use and highly
intuitive for customers," said Alex
Miller, Executive Vice President Operations, North America, and Global Commercial
Optimization for Couche-Tard. "Through this agreement, I am
convinced that we will scale a great tool that makes it easy for
our customers and team members, saving time and putting our
customers and people first in our global operations."
Mashgin has processed over 36 million transactions to date and
can be found in over 800 locations, including, Circle K and other
convenience store chains, airports, Fortune 500 companies, and over
30 iconic U.S. sports stadiums and entertainment venues.
"Our vision has always been to make people's lives better and
give them back more time in their day," said Abhinai Srivastava,
CEO and co-founder of Mashgin, "We've already saved people over 30
years of standing in line. We're honored to work with the fantastic
team at Couche-Tard to bring that savings around the world."
Mashgin and Couche-Tard are both actively recruiting multiple
roles to help innovate retail experiences. To apply for jobs at
Mashgin click here, or to apply for jobs at Couche-Tard please
click here.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and fuel retail,
operating in 26 countries and territories, with more than
14,100 stores, of which approximately 10,800 offer road
transportation fuel. With its well-known Couche-Tard and
Circle K banners, it is one of the largest independent
convenience store operators in the United
States, and it is a leader in the convenience store industry
and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as
in Ireland. It also has an
important presence in Poland and
Hong Kong SAR. Approximately 124,000 people are employed
throughout its network.
For more information on Alimentation Couche-Tard Inc., please
visit: https://corpo.couche-tard.com.
About Mashgin
Mashgin makes everyday life easier through artificial
intelligence. Their Touchless Checkout System is the world's
fastest self-checkout powered by AI and computer vision. Consumers
demand instant gratification. Mashgin's Touchless Checkout System
eliminates consumer frustration while increasing revenue for
retailers with checkout that is four times faster than cashiers and
traditional points-of-sale. There's no need to look for and scan
bar codes: customers simply place their items on Mashgin's tray,
pay electronically, and can be on their way in under 10
seconds.
Founded in 2013 and headquartered in Palo Alto, Calif., Mashgin is a privately held
company backed by NEA, Matrix Partners, Susa Ventures and Y
Combinator. Follow Mashgin on Twitter and Linkedin, or learn
more about Mashgin at www.mashgin.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward
looking statements within the meaning of securities legislation,
including those with respect to the issuance of the Notes as well
as the use of proceeds therefrom. Positive or negative verbs such
as "believe", "can", "shall", "intend", "expect", "estimate",
"assume" and other related expressions are used to identify such
statements. Such statements are based upon the current beliefs and
expectations of Couche-Tard and are subject to significant risks
and uncertainties outside of Couche-Tard's control. Couche-Tard
would like to point out that, by their very nature, forward-looking
statements involve risks and uncertainties such that its results,
or the measures it adopts, could differ materially from those
indicated in or underlying these statements, or could have an
impact on the degree of realization of a particular projection.
Unless otherwise required by applicable securities laws,
Couche-Tard disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
information in this release is based on information available as of
the date of the release.
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SOURCE Alimentation Couche-Tard Inc.
