Part 4: Key Applications – Essential Stores
In part 3 of this series, we discussed why data privacy compliance is critical for AI video analytics solutions. A video analytics technology provider that offers aggregated and anonymous insights while being fully compliant with data privacy regulations, will not only build trust among the public and potential customers of a business but also enable the widespread adoption of the technology in various market segments.
Analyzing people’s behaviour is critical for businesses to understand how to effectively operate their business, improve the users’ experience, increase the usage of their spaces or services, and maximize their revenues. In this blog post, we introduce one of the key applications that are enabled via AI video analytics and can leverage the key competitive advantages of such technologies including scalability and simple integration to existing hardware infrastructure.
Essential stores, such as grocery stores, hypermarkets, and pharmacies with an AI video analytics solution that leverages existing security cameras can understand the behavior and demographic of their entrance traffic, identify what triggers a purchase to build more targeted sales strategies, and improve customers’ in-store experience. Below we highlight the various benefits of using an AI video analytics solution for essential stores.
Monitor the number of customers at a point-of-sales area, such as a self- or assisted check-out, including the average time spent to efficiently allocate staff and prevent any lost sales opportunities.
Demographically Classified Journeys
Identify the ratio of purchasing customers and understand their in-store journey to identify the best path to purchase. Identify the ratio of pass-through traffic, and visitors who did not purchase anything, and study their shopping patterns and behaviors to build highly targeted sales strategies.
Path to Purchase
Measure the performance of specific areas, such as the entrance or key-product areas using insights on dwell-time and visitor behavior to optimize your spaces and effectively drive sales.
Entrance and Exit Traffic
Automatically control the entrance rate and traffic flow of their facility through accurate enter and exit counts with existing security cameras, to ensure that their spaces respect government-enforced space occupancy limitations for health and safety purposes.
Analyze the occupancy rate of the space using the store’s security cameras to prevent overcrowding and hotspots in key areas of the store, allowing stores to automate the monitoring and management of their store’s occupancy in real-time.
About the AI Video Analytics Series
In this series, C2RO shares their expertise, as a thought leader and recognized pioneer in AI video analytics technology, on how AI-powered video analytics (e.g., AI Video Analytics) is transforming indoor physical spaces by providing businesses with a 360-degree view into people behavior and business operations insights. In part 5 of this series, we’re going to introduce the advantage of an AI video analytics solution for public safety, and how automated safety measures can keep both facility staff and visitors safe