OMNIQ Adds to Smart Buy and Go Solution

OMNIQ Corp. (NASDAQ: OMQS) shares picked up some ground to begin Monday, as the provider of Supply Chain and Artificial Intelligence (AI)-based Machine Vision solutions, announced the rollout of 1,000 units of the Smart Buy and Go (SBG) solution for one of Israel's largest supermarket chains by Dangot Computers Ltd, a subsidiary of OMNIQ. The Company plans to offer its SBG solution to its customers in the United States.

According to The Wall Street Journal: “In North America, groceries are a $1 trillion industry, with 90% of grocery sales taking place in stores.”

Smart Buy and Go solutions are in growing demand by customers all around the world, and the grocery industry is responding.

According to an article published in the Washington Post, smart cart solutions may cost between $5,000 and $10,000 per cart. OMNIQ-Dangot’s SBG solution is affordable at a fraction of the cost, compared to other smart cart solutions generating a potential higher and quicker return for owners.

The usage of an SBG solution enables the store to minimize lines and provide a better shopping experience. The solution enables customers to receive a specific terminal on which they scan the products as they put them in the regular shopping cart. Once finished with the shopping, the customer places the terminal back into a cradle and the payment is processed automatically allowing the customer to exit the store and go straight to their car.

OMQS shares jumped 17 cents, or 3.2%, to $5.47.