Carson City, NV & Hong Kong, May 01, 2018 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTC: RETC) announced today it has reached an agreement with SkyREC Inc. to incorporate its technology into the 12 Technology Suite. Using SkyREC’s combination of in-store cameras and sophisticated computer vision and machine learning algorithms, retailers can now track shopper behaviors and activities when inside their stores. 12SkyEye™ powered by SkyREC finally brings the type of data analytics previously only available to online e-commerce stores. With this information, retailers now have the ability to understand what the shoppers are viewing within the stores and have the tools to optimize their operations.
The agreement with SkyREC is part of 12 ReTech’s strategy of offering “best-of-class” technology to serve its global clients. By partnering with 12 ReTech, other companies, through our 12 Technology platform can offer new features and capabilities not possible in their standalone offerings. 12 ReTech has added proprietary features to the SkyREC product which makes it unique and applicable to our vision of helping global retailer clients.
Angelo Ponzetta, CEO of 12 ReTech said, "This is a perfect addition to our 12 Technology Suite. 12SkyEye™ provides data and tools that retailers can use to analyze in-store traffic patterns, determine where consumers are spending their time within the store and assess the effectiveness of their merchandise curation. By analyzing data provided by 12SkyEye™ and other components of our 12 Technology Suite, retailers will understand what needs to be done to win more sales and compete against Amazon & Walmart."
Dan Wong, Chief Operating & Technology Officer of 12 Hong Kong, Ltd., a subsidiary of
12 ReTech, stated, "We use the 12SkyEye™ analytics among other things to analyze traffic patterns and determine where best to install our interactive advertising screens (12Screen) so that consumers are matched with tailored information to drive more revenue for the retailer. Driving more sales for retailers is very important for us as our business model is to share revenues generated by our technology with the retailer client. This results in “When they win, we win!”"
CEO Ponzetta continued, “As a true omni-channel resource for our clients, we offer tools that make the retailer more effective across their physical store, ecommerce and mobile sales channels. Understanding traffic patterns in the physical store, will lead to a higher percentage of sales won across all the channels that a merchant operates in.”
CEO Ponzetta finished, "We have been working on this offering for a while and have shown it to prospective retailers, like Manor A.G. who is expressing strong interest in adding the 12SkyEyeTM to our upcoming pilot project with them in Switzerland. The key to our success is to improve all of a merchant’s sales channels. We look forward to discussing how this is being accomplished during our upcoming deployments.”
About 12SkyEye™ powered by SkyREC
12SkyEye™ gathers traffic data and customer demographic data and provides analytic tools that helps the retailer optimize their physical store merchandise displays and daily operations. Our goal is to maximize the retailer’s chances of converting opportunities into sales. We use Artificial Intelligence algorithms to understand the shopper demographics and match that with where the shopper spends their time in the store to give the retailer useful data that results in higher shopper conversion rates. 12SkyEye™ powered by SkyREC technology provides daily/weekly/monthly analysis reports based on 12 ReTech analytics and the expertise of the 12 ReTech retail consulting team to optimize store performance. This technology is being used by over 100 international brands to increase their revenue run rates.
About 12 ReTech Corporation:
At our core, we are a software company whose technology allows retailers to combat the dual threats of Walmart and Amazon — both online and in physical stores. Our microbrand rollup acquisition strategy allows us to demonstrate the effectiveness of our software, devise and test new products, while providing shareholder value through immediate revenue and earnings growth. The Company operates through our subsidiaries on three continents: 12 Hong Kong, Ltd., 12 Japan, Ltd., 12 Europe A.G., 12 Retail Corporation (and its subsidiary in North America, E-Motion Apparel, Inc.). For more information please visit our website at www.12ReTech.com.
12 Retech Corporation is publicly listed on the OTC Markets under the symbol RETC.
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.