The retail industry is gearing up to provide smart shopping experiences with the help of in-store video content analytics.
FREMONT, CA: Gone are the days when video analytics was just a matter of keeping an eye for shoplifters. Retailers and shop keepers today, use the content to understand their customer’s shopping behaviour and to offer better services. Analyzing the massive amount of data from the in-store video content provides valuable insights into the customers and helps the authority to take measures for store management and effective decisions. Gaining benefits such as giving numerous products option, avoiding the overcrowd and minimizing the service timing.
• Product Options
The combination of video analytics and artificial intelligence provides smart applications like smart selves help the in-store management and enhance customer experience. It displays advertisements based on customer’s likes and preferences and utilizes the information to suggest relatable products in the deck. The quick access to the product descriptions and availability helps to reduce the time to explore and compare the prices across the brands physically. The multiple options in hand satisfy the shoppers need for the best product at the best price.
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• Avoiding overcrowding
Video analytics data provides services like crowd management or aisle management. Integrating the Business Intelligence (BI) with collected video data help to derive the conversion rate of the in-demand products or popular sections of the store area. It avoids the possibility of the overcrowded regions and delivers shopping satisfaction to the customers. It also offers logical insights for product placements according to the conversion rates, which profoundly impacts the store management metrics.
• Excellence in Service Timing
In-store video analytics assists the store or retail managers to control the queue in the billing area by reshuffling and optimizing the number of the line. It can help to calculate the delay time and efficiently fix the issues with effective measures. Measurements like keeping track of footfalls let the staffs relocate according to the customer ratio, help the shoppers for a better shopping experience.
Video analytics offers retailers a multi-channel presence to avoid retailing troubles and achieve customer satisfaction. Its benefits can deliver effective business intelligence solutions to the retail industry. It's no surprise if video content analytics becomes a significant need for overall business performance.
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