QueueHop, one of world's leading technology providers of autonomous retail checkout, and TrustTag, one of world's largest retail security product manufacturers, announced a new strategic partnership today. The partnership will combine QueueHop's technology infrastructure, intellectual properties and know-hows with TrustTag's upstream engineering and manufacturing expertise to deliver an integrated supply chain for retailers seeking to implement autonomous retail checkout. As a part of the strategic partnership, TrustTag has also agreed to take a minority interest in QueueHop.
Together, QueueHop and TrustTag are improving the autonomous retail checkout space by establishing cost-effective channels to support the application of QueueHop security tags at every point of the supply chain. The companies will co-innovate on multiple aspects of the technology, including but not limited to autonomous self-checkout, inventory visibility, geolocation tracking, customer preference data and omnichannel shopper interactive features. Moreover, the two companies seek to enhance ease of operational integration for retailers, such as inventory management tools and tagging automation.
Lindon Gao, the CEO of QueueHop comments "We are very pleased to establish a strategic partnership with TrustTag. Amidst growing emphasis on shopper experience, physical retailers must digitize their physical store experience in order to stay competitive. By combining QueueHop's innovative initiatives with TrustTag's 13 years of engineering and manufacturing experience, the companies can bring extremely cost-effective technologies to market and create high ROI for retailers."
Simon Shi, the president of TrustTag comments “As TrustTag consistently provides high-quality loss prevention solutions and services to meet the demands of various retailers, we are also an innovative pioneer with an eye for the future technology. We believe that the strategic partnership between QueueHop and TrustTag can create the future of autonomous retail checkout system.The synergy between TrustTag’s engineering and manufacturing capabilities and QueueHop’s cutting-edge technology will set a new standard for the retail technology industry.”
The two companies will begin deploying its synergistic initiatives immediately.
Founded in 2015, QueueHop brings seamless autonomous checkout technologies for various retail verticals. The QueueHop Self-Checkout Security System was launched with Rebecca Minkoff in 2016 and the company has since been named as the "Top Innovators in Retail" by Forbes and WWD. Today, QueueHop continues dominate in the apparel checkout technology category with a core mission to digitize retail and stand at the frontier of brick & mortar technology revolution.
Since the company's founding in 2004, TrustTag has focused on solving the problem of retail theft with various solutions while anticipating the needs of retailers. Leading retailers worldwide have been using TrustTag’s innovative and high quality retail security products (EAS & RFID) to help decrease shrinkage, enhance inventory management, and improve customers experience.