SPAR Group Announces a Global Partnership with ParallelDots, Inc.

Rhea-AI Summary

SPAR Group, Inc. (NASDAQ: SGRP) has partnered with ParallelDots, Inc. to enhance its merchandising services.

The collaboration leverages ParallelDots' AI-driven ShelfWatch technology, which boasts over 95% product recognition accuracy at the SKU level. This integration aims to improve retail execution efficiency across many stores.

SPAR, with over 25,000 team members globally, aims to deliver advanced solutions for Consumer Packaged Goods (CPG) companies. The partnership is expected to bring significant value to retailers and manufacturers.

Positive

• Global partnership with ParallelDots enhances SPAR's merchandising capabilities.
• Integration of ShelfWatch technology aims to improve retail execution efficiency.
• 95%+ product recognition accuracy benefits CPG companies and retailers.

Negative

• None.

Continued Expansion of Business Analytics, Retail Execution Intelligence

AUBURN HILLS, Mich., March 17, 2022 /PRNewswire/ -- SPAR Group, Inc. (NASDAQ: SGRP), ("SPAR Group", "SPAR" or the "Company") a leading global provider of merchandising, marketing, and distribution services with over 25,000+ team members deployed across nine countries, today announced a global partnership with ParallelDots, Inc. ("ParallelDots"); an artificial intelligence company that provides the most advanced image recognition solution for consumer packaged goods (CPGs) and retail brands.

William Linnane, SPAR Group Chief Strategy & Growth Officer commented, "ParallelDots offers a leading global solution for Image Recognition via their AI-driven ShelfWatch capability. I strongly believe partnering with ParallelDots and offering this capability to our clients is fundamental as SPAR continues to enhance how it approaches merchandising solutions.Combining great people equipped with the most effective technology will deliver significantly more efficient results for our clients. This partnership opens up multiple ways to create value for CPG companies, retailers and all our clients. I look forward to working with Angam and the rest of the team, and wish them every success as we grow together".

ParallelDots flagship product, ShelfWatch; combines the best object detection and optical character recognition (OCR) ever developed, and achieves 95%+ product recognition accuracy at the SKU level. This image recognition capability allows for heightened accuracy at shelf level execution and brings greater efficiency in retail execution for their clients. ShelfWatch has been launched worldwide helping various CPGs run their Perfect Store program across hundreds of thousands of retail stores.

"We are very excited about our partnership with Spar Group. We can unlock immense value for our clients by combining Spar's strong merchandising capabilities with our state-of-the-art AI technology. We are committed to help retailers, manufacturers, and distributors achieve excellence in their retail execution by deploying our artificial intelligence powered solution at scale. This partnership will further help us push the boundaries for our clients across the globe", said Angam Parashar, Co-founder and CEO of ParallelDots.

SPAR Group has one of the most comprehensive suites of technology solutions; SPARview, in the market today, and ParallelDots ShelfWatch technology shall be integrated into the SPARview platform.

About ParallelDots
ParallelDots, Inc. is a fast-growing venture-funded artificial intelligence company building the best-in-class image recognition solutions for CPG manufacturers and retailers globally. Their flagship product 'ShelfWatch' helps the CPG companies and retailers optimize their in-store execution and maximize sales. With offices in the US and India, ParallelDots customers include some of the world's top consumer goods companies around the world.  For more information regarding ParallelDots, Inc., please visit www.paralleldots.com.

About SPAR Group
SPAR Group is a leading global merchandising and marketing services company, providing a broad range of services to retailers, manufacturers and distributors around the world. With more than 50 years of experience, 25,000+ merchandising specialists around the world, an average of 200,000+ store visits a week and long-term relationships with some of the world's leading manufacturers and retail businesses, we provide specialized capabilities across more than nine countries. Our unique combination of scale, merchandising and marketing expertise combined with our unwavering commitment to excellence, separate us from the competition.

For more information, please visit the SPAR Group's website at http://www.sparinc.com.

View original content:https://www.prnewswire.com/news-releases/spar-group-announces-a-global-partnership-with-paralleldots-inc-301504734.html

SOURCE Spar Group, Inc.

FAQ

What is the significance of SPAR Group's partnership with ParallelDots?

The partnership enhances SPAR Group's merchandising services through advanced image recognition technology, improving retail execution for their clients.

What technology is being integrated into SPAR Group's services?

SPAR Group is integrating ParallelDots' ShelfWatch technology, which offers over 95% product recognition accuracy.

How will the partnership affect SPAR Group's clients?

The partnership aims to deliver more efficient retail execution and create significant value for CPG companies and retailers.

When was the partnership between SPAR Group and ParallelDots announced?

The partnership was announced on March 17, 2022.

What is SPAR Group's main business focus?

SPAR Group focuses on providing merchandising, marketing, and distribution services to retailers and manufacturers globally.