SAN FRANCISCO, Nov. 25, 2019 (GLOBE NEWSWIRE) — Standard Cognition, which is building the next interface of retail, and Mars Wrigley, the world’s leading manufacturer of chocolate, chewing gum, mints and fruity confections, announced today that they have partnered to help retailers evolve into a new world of autonomous checkout by integrating seamless technology and impulse category sales.
Mars initially reached out to Standard, suggesting the two companies work together to better understand what impact autonomous checkouts would have on shoppers’ experience, particularly at the end of the trip when they’re traditionally seeking products to Reward, Recharge and Remind – much of which traditionally took place while waiting in line for a cashier. The two companies could then collaborate to bring retailers new recommendations on how to design stores that balance operational efficiency, shopper satisfaction and financial optimization.
“Standard had been thinking about that issue too, so the Mars inquiry was very timely,” said Michael Suswal, co-founder and COO of Standard Cognition. “We leapt at the chance to work with Mars – a category captain with 100+ years of insights, research and innovation – to help retailers address this challenge.”
“Mars selected Standard as its partner because it’s clear to us that they bring advanced technology in autonomous checkout, offer a great value proposition to retailers and share with us a mutual passion and vision for this space,” said Vincent Hummel, Global Category Leadership Director – New Transaction Points at Mars Wrigley. “We’re excited to work with Standard and our retailers around the world to define the future of autonomous checkout.”
During the initial phase of the partnership, Standard and Mars will educate each other on their respective capabilities across technology, shopper journey insights and the intersections of operational efficiencies and merchandising excellence for impulse in a cashierless world. The companies are working together to create convenient and positive experiences for shoppers in a way that will meet retailers’ holistic objectives.
Standard Cognition was one of the first startups in the autonomous checkout space, and first to open a cashierless store in San Francisco. Recently named to Y Combinator’s Top Companies List for 2019, Standard is currently working with retailers across the US and the world. The company has raised $86M in funding from high-profile investors including CRV, Initialized Capital, EQT Ventures and Y Combinator.
About Mars, Incorporated
Mars is a family – owned business with more than a century of history making diverse products and offering services for people and the pets people love. With more than $35 billion in sales, the company is a global business that produces some of the world’s best – loved brands: M & M’s®, SNICKERS®, TWIX®, MILKY WAY®, DOVE®, PEDIGREE®, ROYAL CANIN®, WHISKAS®, EXTRA®, ORBIT®, 5™, SKITTLES®, UNCLE BEN’S®, and COCOAVIA®. Mars Associates proudly take care of half of the world’s pets through our nutrition, health and services businesses such as Banfield Pet Hospitals™, BluePearl®, Linnaeus, AniCura, VCA™ and Pet Partners™. Headquartered in McLean, VA, Mars operates in more than 80 countries. The Mars Five Principles – Quality, Responsibility, Mutuality, Efficiency and Freedom – inspire our more than 125,000 Associates to take action every day to help create a world tomorrow in which the planet, its people and pets can thrive.
About Standard Cognition
Standard Cognition provides the most flexible AI-powered autonomous checkout solutions for brick & mortar retailers. Available to any retailer, the Standard solution lets consumers shop and pay without waiting in line, scanning or stopping to check out. It helps retailers reduce labor costs, improve the customer experience, and improve profit margins by up to 100 percent. Standard also helps retailers of all sizes compete with larger chains and online offerings such as Amazon. Learn more at https://www.standard.ai/ or follow @standardAI.
Media Contact:
Michelle Faulkner
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0e8216a0-a1b7-42b8-a21a-0b8934ea24ea
