Driving Retail Excellence with New Strategy

Driving Retail Excellence with New Strategy

By: Retail CIO Outlook | Monday, April 22, 2019

Retail ExcellenceGiving the paradigm of shopping a modern outlook, technology has created a transformative impact on the retail industry. With a critical need to meet the high consumer expectations and develop innovations to fulfill the ever-increasing customer demands, retailers have made room for the latest technological trends to transform the legacy of business at a colossal rate. People counting is one of the newest tech-driven strategy, which has dramatically influenced the retail sector. Along with accelerating retailers' success, this recent technology evolution brings with it unique features, result-centered business opportunities, and immense branding benefits.

People counting is a technique which provides precise information about the number of people who entered the physical store. This informative insight further enables the retail enterprises to hike their revenue standards by analyzing the operational sphere of the enterprise, streamlining the processes, and optimizing resource allocation. Counting the customers enables the retailers to visualize an ideal scenario of the marketplace to understand the pivotal indicators of the busy times, insufficient resources, and more such business-critical implications. Combined advantages of intelligent predictive analytics and people counting strategy deliver precise insights into allocating workforce based on the needs such as place, number of customers, time, etc.

Check out: Top Retail Tech Companies

A real-time report on the customer count helps the retail market anticipate the demand density over the immediate future and take relevant actions in terms of strategic planning, service up gradation, inventory management, staffing, accounting, and the list continues. Latest computer vision technology applications such as real-time surveillance cameras serve the purpose of both counting and reporting. Nowadays, dual-lens cameras have been predominantly in use to get an accurate value of people who visited the store. The dual-lens technology has mastered the art of simultaneously detecting and processing two images of the same object or a person. With a regular mechanism to record the number of customers and leads, the store can effortlessly maximize promotion to sales conversion ratios, and optimize the operational methodologies. 

Few Top Retail Tech Companies (Appriss Retail, Creatuity, FreedomPay)

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