Four Reasons To Use Retail Video Analytics

Many retailers are leveraging video analytics to maintain a competitive advantage and also to engage customers on an optimal level while they are in-store searching for merchandise. This methodology has improved sales and also efficiencies within organizations. The solutions they devised have also improved customer satisfaction and boosted customer loyalty. The return on investment (ROI) is phenomenal. Here are other ways that retailers can benefit from video analytics.

1. Innovative Way to Measure the Impact of Changes Made In-Store

Retail video analytics can help to measure the customer experience and the effectiveness of certain practices implemented in the store. This helps companies differentiate themselves from the competition. When new technologies are implemented, it’s easier to record the impact of certain practices. For example, a retailer may introduce a handheld mobile app in the store. Video analytics can be used to measure how customers interact with the technology.

2. Measure the Efficacy of Store Associate Interactions

Companies may use video analytics to determine if store associates are engaging with shoppers properly. They also measure if they are interacting for the proper amount of time to yield the most sales conversions. Video analytics have been found effective in this capacity.

3. Retailers can Determine if Customers are Stocking the Shelves Properly

Instead of micromanaging your store associates, you can use video analytic to determine if the shelves are being stocked in the most efficient way. This will ensure that all planograms are followed properly and promotional endcaps are correctly set.

4. Retailers Can Determine if Merchandise is Where It Needs to Be

Video analytics can help retailers determine the proper placement for items in the store. They can follow shoppers patterns and determine how to place items in areas that make the most sense for certain customer’s shopping behaviors.

Four Reasons To Use Retail Video Analytics

There are numerous reasons that retailers use video analytics, but these four reasons are compelling enough to coerce retailers to make an investment in the technology. They can improve customer serve and also prevent loss in the store. It’s an effective solution that many retailers are already using to improve their stores.