As brick and mortar companies continue to drive the level of competition up in the retail market space as they compete against online companies offering free shipping and very low prices, they must seek every possible advantage so as to grow their revenues while still addressing conventional security threats such as inventory loss through internal and external theft, also known as “shrinkage”.
Fortunately for those working in a retail space, the security industry has developed products allowing for greatly enhanced security in addition to a whole range of features that are useful in tracking customers and streamlining various processes. There are five key areas associated with the concept of “Intelligent Video”: People counting, traffic pattern analysis, customer satisfaction, the reduction of theft, and monitoring the exterior. Here we will look at these aspects of “Intelligent Video”, more commonly known as analytics enhanced video surveillance.
Unlike a company that operates strictly online, traditional storefronts have a difficult time determining just how many people visited their location each day. Counting visitors can enhance efficiency and make it easier to make decisions which could affect conversion rates and per-customer transactions. Cameras at the entrance should use WDR or “Wide Dynamic Range” so as to bring the clearest images to the analytics software.
Using analytics to monitor and analyze traffic patterns can involve heat mapping, which visually shows a hot and cold flow on screen based on customer flow. Regional people counting analysis helps show how people move through the store. Data like this can be used in determining where to place products, how high on the shelf, and etc. This software can also show how much visitors look at any particular display. Ultimately, all this data can be combined to get a very clear picture of what your customers do on average, and therefore what your best options are for the store.
As far as improving customer satisfaction goes, it simply follows from the implementation of the aforementioned changes based on analytics information. Line times can be reduced or eliminated in the store. On a broad scale, analytics will determine how many people to bring onto staff on any given day and what hours they should work. HD cameras can also be used to individually capture transactions at the register.
As for reducing theft, a wide range of options is available. IR cameras for very low light areas to motion detection or more advanced tech such as tripwire or removed object analysis will enhance the overall effectiveness in managing inventory and reducing theft. PTZ (Pan, Tilt, Zoom) cameras are useful in monitoring the exterior of the building. Having a camera for every corner and corridor also eliminates the possibility of false injury claims and confirms facts in the case of a burglary.
Security Technology offers the integration of security solutions such as these, along with analytics to get the best overall picture of what goes on in your storefront.
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Sources: Security Today Magazine