Description:
even with the surge in service and product prices due to the COVID-19 pandemic,
there are still regular footfalls of consumers stocking up on essential items
to manage the immediate demand and future uncertainty. However for the retail
sector it has been taxing to assuage the customers of sufficient availability
as long queues are often seen outside most shopping malls.
So as most parts of the world get back to normal while
others struggle to contain infections, how best can the retail units and sector
generally optimize the holiday season with the best of video analytics? Let’s
see some strategic ways adopting video analytics is actually very helpful.
Ways Video
Analytics Helps to Optimize the 2021 Holiday Season
Identify genuine and fake customers
Several retail store footfalls don’t necessarily
translate into real sales figures or genuine customers. Indicative potential
can be translated into real sales with the use of video analytics software
applications. This is possible as analytics studies customer behaviour and
dedicates better ways to guide and monitor their shopping habits, product
choices and preferences.
Boost product and floor security
Security is fundamental to managing and translating
floor and product safety. When there are suspicious customer actions,
inconsistent traits and behaviours video analytics helps to figure out what is
consistent and what is not. That’s helps to boost the safety and security of
product and be able to monitor the entire retail store floor actions.
Enhance customer or client conversion rates
Conversion rates are essential and crucial to business
growth. For they mean even when a customer didn’t have the intention to buy anything
but with proper customer study they can be turned into real customers. Target
specific marketing studies how customers behave and conduct themselves while in
the store with the help video analytics data. The collected information gives
clues and ideas on how to convert visitors to genuine buyers.
Improve employee efficiency and productivity
Employees are at all times to be productive and
efficient in their duty and assignments. They must create and produce results
that propel the business forward. The adoption of video analytics adds a better
way and approach to track employees consistently. Efficiency impacts and
improves overall productivity. Productivity will naturally affect the bottom
lines and ROI of any business or organization.
Helps customers in need of specific product selections
Retail stores are expansive, detailed and broad in
product display that perhaps initially customers may find it difficult to
locate specific goods. Some customers want fairly easy to locate and access
products which reduces their overall time spent in search of specific products.
Analytics keeps a detailed retail outlet floor plan or outlay. That means
specific goods and products are easy and fast to identify or locate.
Advise customers on specific preferences and choices
Sometimes there are several products that customers
have no interest in at all. Video analytics follows and tracks the shopping
behaviour of clients to ascertain what attracts and captures their attention
the most. It is also helpful in knowing the types of goods that the clients
have shown more interest in compared to the rest. This makes it able to send
them alerts whenever new stocks arrive or new offers are available.
Eliminates Pilferage and Product Loss
Pilferage can prove costly for the business in the
short and long run. This can be eliminated with the best video analytics
applications and software that tack and monitor all the activity in the store
24/7, 365. The minute losses can slowly add up to colossal figures if not
tracked and stopped in time.
Improve customer care and treatment by employees
Customers are the very reason businesses operate,
function and grow. Making customers a priority means giving better customer
care services as well as overall treatment by the employees. Employees must
recognize the value each customer adds to the business’ success and survival in
a competitive market space.
Summary
With the retail holiday season picking up the pieces
and getting back to normalcy post COVID-19, Video Analytics Companies in India recognise its valuable inputs
for the retail season ahead. For the retail outlets adding video analytics is a
sure way to boost and optimise the holiday retail shopping season.
