In today’s highly competitive environment, retailers need to leverage every tool they can to not just remain competitive, but to stay in business. Many retailers are moving to an omnichannel model. That is, with the right systems in place, customers are given an improved and seamless shopping experience whether in-store or online (from a desktop, smart phone or tablet). To pull this off, retailers need unified databases of inventory and customers.
One byproduct of an omnichannel initiative is the amount of data a retailer can tap into to make important decisions about everything from the right products to stock to where to open new locations. The goal is to deliver a great shopping experience to customers to retain their business.
Of course, omnichannel analytics are just one form of data retailers can leverage. There’s also in-store analytics gleaned from video cameras that can have an impact by themselves or be combined with other data.
People counting—A strategically placed camera near the entrances can help retailers understand their foot traffic. This can be beneficial when building staff schedules or understanding the results of advertisements. Additionally, if integrated with a digital signage display, it’s possible for retailers to measure the number of impressions the signage received and even how long customers watched the display.
Heat mapping—The VMS can use video to provide a graphical representation of where and how customers move within a store. Data can also be used to measure customer dwell time to see where they’re spending the most time. This is useful in determining which displays and products are of interest and which are not.
POS text overlay—While not a form of analytics itself, integrating surveillance with the POS stations can enhance the retailers’ POS analytics. For example, voided transactions on the POS can indicate an employee is stealing. It can also indicate that an employee simply needs more training on how to operate the system. With video and a text overlay of the POS data, retailers can watch transactions occur and determine what, exactly, is happening.
Your next steps
There’s a good chance that people counting and heat mapping are already features of the VMS systems you currently carry. If not, it’s often a simple add-on. If you’re interested in POS text overlay and digital signage integration, things get a little more complicated, but not much. Technologies have improved greatly and it’s easier than ever to add value with these integrations. If you want help in tapping into video analytics for retail, contact Chris Kacala or our physical security expert, Jason Destein.