From Security Guard to Sales Guru: How CCTV Analytics Can Transform Your Retail Business
CCTV surveillance systems have long been siloed as tools for theft prevention, but mainly research (who stole that), but with on the edge analytics their benefits go far beyond that. With the help of Advisen, retail businesses are leveraging these systems to extract vital data and even generate greater revenue. It’s time to put your CCTV to work and make it earn its keep. No more sitting around twiddling its lenses, hoping that a shoplifter will come along and make it feel useful. It’s time to unleash the power of Surveillance Systems and turn them into revenue-generating machines. Let us show you how.
By harnessing the power of analytics your surveillance systems and cameras can analyse customer behaviour to identify the following:
- Customer Footprint – By analysing the footage, businesses can determine the busiest times of day, week, and month. This information can be used to optimize staffing levels and adjust store layouts to better accommodate customer traffic.
- Dwell Time – By tracking this metric, businesses can identify the most engaging areas of the store and adjust product placement to encourage customers to spend more time and money.
- Customer-Product Behaviour – CCTV footage can be analysed to track customer behaviour, such as which products customers are looking at and which ones they purchase. This data can be used to optimize product placement and pricing strategies to increase sales.
- Heat Mapping – Heat maps are visual representations of customer movements and dwell time in a store. By analysing this data, businesses can identify the most popular areas and optimize store layouts and product placement to increase sales.
- Queue Time – Analytics are used in retail stores such as supermarkets to monitor how long people are waiting in queues and even trigger alerts to open more cash registers to increase customer satisfaction and assist with efficient rostering of staff. In one survey, businesses reported that they lost 75% of customers due to waiting times. And when a customer leaves the door with nothing in their hands but frustration, they’re unlikely to ever come back. (Source: TimeTrade).
- Where is that cleaner? You can have your CCTV system conducting compliance reviews. Every time the cleaner goes in the bathrooms, the CCTV System can log it automatically, thereby making sure they are meeting their cleaning KPIs.
- Theft Prevention – Products that are stolen are products that are not sold. This means the business is turning a loss. By utilizing smart camera analytics, known thieves or repeat offenders can have their faces uploaded onto the monitoring system so that if they return to the store it will trigger an alert to security.
- CCTV has always been used as a research tool, i.e. wait for something to happen, then review what went wrong. CCTV camera analytics can now observe this happening in real-time and initiate an alert to allow a faster more proactive response.
Contact Advisen today and lets put those cameras to work!