Time to upgrade your analytics sensors, Why is edge video analytics revolutionary for retailers?
Retailers are missing out on understanding the ins and outs of their stores. Unlike online, when it comes to the physical stores, they don’t have accurate counts of customer foot traffic or a thorough understanding of how customers navigate their products. This information can be useful not only for optimising marketing & product placement in stores, but also for fine-tuning staffing levels to customer demands and drive conversions.
Time to upgrade your analytics sensors, Why is edge video analytics revolutionary for retailers?
Retailers are missing out on understanding the ins and outs of their stores. Unlike online, when it comes to the physical stores, they don’t have accurate counts of customer foot traffic or a thorough understanding of how customers navigate their products. This information can be useful not only for optimising marketing & product placement in stores, but also for fine-tuning staffing levels to customer demands and drive conversions.
Unfortunately, most retailers are stuck between using either basic footfall counters, or expensive approaches that require installing many new sensors across their stores’ ceilings. Other technology alternatives, like customer loyalty cards, are not suited to many kinds of retail environments as they hinder the customer journey with the long sign-up processes, leaving many retailers in the dark about how their stores are actually used.
In-store footfall in real-time from existing CCTV cameras
By leveraging their existing security camera feed from high traffic areas, edge video analytics technologies like Aura Vision’s count the number of people that move through a predetermined area (such as a store entrance), enabling accurate store traffic analytics in real-time. The cutting-edge technology counts the demographics of store visitors without visible faces, and can segment staff from customers based on clothing and without any new tags.
Retailers are already leveraging these insights to increase conversion rates by 1% in 3 months by optimising staff headcounts to customer demand, and uncovering multi-million $ opportunities to drive traffic and sales across their stores.
These insights can also be leveraged to assess common traffic patterns and fine-tune staffing to account for peaks and dips in foot traffic, and to gain insights into how external factors like holidays and weather impact foot traffic.
Customers’ flow through a store is usually slowed down by the checkout register. Queue times become lengthy if there are too many customers and not enough open registers. Conversely, too many registers can lead to idle checkout clerks and reduced profitability.
By monitoring queue lengths using the store cameras, retailers can determine whether to open or close registers based on the optimal number of open registers.
Solution’s like Aura Vision can predict peak times and automatically notify store employees to open an additional register when the average number of people in the open register zones exceeds a predetermined threshold. The solution can also notify employees when the average number of people in checkout queues drops below a certain threshold. A store can then continually fine-tune its open register count based on real-time metrics, allowing managers to focus on other tasks during peak hours.
Thus, by adopting video analytics operation teams have insights into:
Where different customer demographics dwell in the store
Which demographics are entering vs being served and checking out
More accurate customer-only conversion reporting
More accurate customer-only dwell inside the store
Staff occupancy across services areas
Staff-customer ratios across each area of the store
Find out more our Aura Vision.ai
