Retailers are under increasing pressure to maximise the return on their investment in store operations and product promotion.
By applying intelligent analytics to the same video feeds used for loss prevention and security, Amberstone can help you gain important insights into the effectiveness of your operations, marketing and merchandising.
Increased Operational Efficiency
Retailers face high staffing costs, unsatisfied customers and lost sales when insufficient staff are available. Depending on time, promotions and other in-store events, store managers may need to reassign personnel in order to optimise sales floor performance and ensure product availability.
Retail Traffic Analysis furnishes retailers with immediate insight into in-store activity, helping you understand and predict in-store patterns – by hour, day, location, promotion or price change.
Optimised Marketing and Merchandising
Today’s retailers measure the success of marketing and merchandising using various types of operational and POS data, typically relying on actual sell rates to determine effectiveness. However, understanding how customers actually behave in-store is critical to determining what makes these programmes successful and how best to improve the customer experience.
Video systems with integrated analytics can help retailers understand things like:
- Customer numbers at specific times of day
- Traffic patterns within the store
- The rate of conversion from interested visitor to customer
- The areas where the highest conversion rate occurs
- The “premium real estate” in-store and its traffic value
- Customer response to specific promotions
- Interest in store brands versus national brands
Tracking the flow of customer activity throughout a retail location can provide valuable insight into sales performance. Using that data as an inductive model – to predict and determine future sales and merchandising plans based on actual customer behaviour – is the essence of “scientific retailing”.