A2Z Smart Technologies Corp. (Nasdaq: AZ; TSXV:AZ), whose subsidiary Cust2Mate has developed a smart shopping cart that serves as an automatic, independent check out, has signed an agreement with Israeli homeware chain HaStok Concept Ltd. for the use of Cust2Mate carts in the chain’s 40 branches around Israel, at an investment of NIS 30 million. The purchase order is for 1,000 smart carts and comprises an upfront payment, a guaranteed monthly payment, and a revenue share agreement on added value solutions, such as advertising.
Each item placed in the Cust2Mate smart cart is recognized and added to a displayed shopping list, allowing for real-time information and calculation of the total cost of the purchase. The cart is in use in branches of Israeli supermarket chain Yohananof and is being rolled out in stores in New York, Mexico, and several countries in Europe.
"Our strategy is to continue to expand in Israel and around the world, and to create a large range of carts with advanced data services for the different kinds of retail chains,’ says Cust2Mate CEO Guy Mordoch.
HaStok CEO Ofer Barak says, "The chain is growing and developing and we are therefore looking for opportunities to cooperate with innovative Israeli companies. The current step, which comes in addition to the first internet site of its kind for a stock company, and which we launched recently, will provide our customers with a better shopping experience and will at the same time reduce our operating costs."
Published by Globes, Israel business news - en.globes.co.il - on May 7, 2023.
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