Holiday seasons are of strategic importance to retailers and, ahead of each round of festivities, retailers are hard at work planning how to best attract and engage consumers, encourage them to make purchases and convert them into returning customers. Relying on Big Data and business intelligence for decision making, many retailers don’t realize they have access to an untouched treasure trove of insights: video data.
Video surveillance has long served retailers for loss prevention, crime deterrence, and employee oversight. However, with the introduction of AI-based Video Content Analytics, retailers are discovering that the value of surveillance footage can be extended beyond traditional security applications. The ability to measure hotspots, traffic flow, dwell time, and product display activity, and to compare these trends over time, is empowering retailers to maximize store layout and navigation and drive conversions.
Video surveillance captures in-store traffic data and, by understanding how customers typically navigate through the store space and how long they spend in certain locations, retailers can identify in-store behavior patterns to drive optimization.
Merchants are always looking for constructive ways to optimize store layout, prevent friction in the shopping experience and deploy effective zoning and display strategies. By harnessing video intelligence, testing layout and design and visualizing shopper behavioral data through actionable datapoints, in-store opportunities can be better understood and met.
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