According to Axis Communications, next generation CCTV network surveillance solutions incorporating software applications designed to analyse the images they capture offer retailers “a visual insight into customers’ behaviour”. This adds another level of business intelligence to supplement the information retailers are already able to capture from up-and-running customer loyalty schemes.
Atul Rajput, retail development manager at Axis Communications, said: “In taking advantage of the additional benefits offered by network video cameras, retailers can tap into technology that they already use as a loss prevention tool to enable new customer insight applications.”
He added: “By feeding additional video streams from a single camera into customer behaviour analysis tools, store managers are able to analyse customer dwell time, demographics, footfall and customer flow.”
According to Rajput, the majority of consumer buying decisions are made on impulse while browsing in-store, so gathering visual intelligence on customer behaviour is crucial to optimising sales.
“Capturing visual intelligence on customer response to displays and promotions allows retailers to evaluate the level of customer interaction and interest with in-store merchandising and product placements,” he explained.
“Network video cameras also allow retailers to capture and analyse demographics such as age and gender which can provide valuable intelligence on customer buying patterns and the shopping habits of different demographic groups.”
Network video-based intelligence empowers retailers to make real-time decisions to improve the in-store customer experience and respond more effectively to changes in consumer demand.
In an era where retailers use social media to offer real-time deals, video can play an important role in providing real time intelligence to align the in-store experience to prevailing customer shopping traits.
Info4Security Webinar: Network video – security or business intelligence?
Atul Rajput is one of the speakers in our forthcoming webinar entitled: ‘Network video – security or business intelligence?’
Sponsored by Axis Communications, the online seminar is scheduled to examine the current and future development of network video and its impact – both realised and potential – in the retail sector.
Legacy investments in analogue video surveillance have primarily been based around loss prevention and security, and it has often been difficult to measure a clear return on investment (ROI).
However, retailers faced by a challenging economic climate and fierce competition need to maximise their (ROI) on any hardware spend, considering all the while how investment in new technologies will positively impact the bottom line.
On that note, retailers are now starting to realise that IP video surveillance – in conjunction with analytics – can also provide valuable real-time business intelligence and increase the value of their investment in video.
Leveraging network video to improve store layouts, optimise merchandising strategies and increase operational efficiencies will ultimately drive sales and profitability, not to mention instigate a change in perspective when it comes to the role of video surveillance within retail.
With this in mind, a panel of experts has been assembled to discuss and debate the key issues involved, focusing on the technology, its specification, deployment and management in the real world.
Attendees who pre-register will be invited to submit their questions and opinions to be answered and debated live by the panel members.
For more information and to pre-register for the webinar click here
