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 /CNW/ - 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. 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.
Magnus Tägtström, Vice President, Global Innovation at Couche-Tard.
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.
Mukul Dhankar, Mashgin Chief Technology Officer and co-founder
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. 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.
Alex Miller, Executive Vice President Operations, North America, and Global Commercial Optimization for Couche-Tard
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. 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.
Abhinai Srivastava, CEO and co-founder of Mashgin
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 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.
For more information on Alimentation Couche-Tard Inc. or to consult its quarterly Consolidated Financial Statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.
Investor Relations
Jean-Philippe Durivage Lachance
Vice President, Investor Relations
Tel: (450) 662-6632, ext. 4619
investor.relations@couche-tard.com
Media Relations
Lisa Koenig
Head of Global Communications
Tel: (450) 662-6632, ext. 6611
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.
