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MAGNIT PJSC (MGNT)
MAGNIT STARTS ROLLING OUT QUEUE VIDEO ANALYTICS
Krasnodar, Russia (July 12, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, has started rolling out video analytics for store queue management. The system allows promptly detecting queues at the checkout counters and inform store employees that they need to open an additional register. The technology has already been installed in 60 Magnit Family supermarkets and Magnit Extra superstores; 21 more stores will be equipped with the system by the end of September. A decision about roll-out has been made according to the Company's plans to minimize queues and make the shopping process even more comfortable for the customers. For this reason, the roll-out prioritizes stores with large sales floors and the highest concentration of traffic. Magnit installs video analytics equipment in the checkout area, including both regular sales counters with cashiers and self-checkout terminals. Cameras register a violation if a counter always has five or more customers standing in line. The system then immediately sends a notification to a special employee chat group in the corporate messaging app. After receiving a notification, operating staff must respond to the signal and open an additional register; when this is done, the system will automatically inform customers that they can go to the open counter. Regional teams responsible for performance management and customer service also support the integration of the service. They also receive a notification from the system if the issue has not been resolved during the period of time given to the store to redistribute the customer traffic. The queue video analytics system is planned to be installed in Magnit Family supermarkets and Magnit Extra superstores in Moscow, Krasnodar, Astrakhan, Volgograd, Bryansk, Izhevsk, Kazan, Rostov-on-Don, Perm, Samara, Surgut, Ufa, and other cities. During the technology trial period, the Company managed to reduce queues twofold and increase turnover due to the better service.
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| ISIN: | US55953Q2021 |
| Category Code: | MSCU |
| TIDM: | MGNT |
| LEI Code: | 2534009KKPTVL99W2Y12 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 116736 |
| EQS News ID: | 1217687 |
| End of Announcement | EQS News Service |
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