August 5, 2016
Given that e-commerce sales in the US made up just 8% of total retail sales in Q1 2016, there is a chance that the death of brick-and-mortar has been largely exaggerated. In addition, real-time retail data indicates that at any moment in time, Americans spend 10 times more on offline retail compared to online retail.
Brick-and-mortar will not go away soon by any means and there are friendly companies aimed to enhance the performance of physical stores and create superior offline shopping experiences. It's neither the furniture companies providing those comfortable sofas in shopping malls hallways nor the fountain companies that create works of art for the pleasure of mall shoppers. Instead, it’s the tech companies which are allowing retailers to track shoppers while they enjoy their walk around the store. Software companies offering video management solutions have been in the market for some time already and are well-known to retailers that are truly dedicated to data-driven decision-making in the optimization of operations.
Let’s look at some interesting examples of companies applying video analytics in retail.
NETAVIS Software GmbH is a pioneer in server-based IP video surveillance and has been providing high-performing video management since more than 10 years. NETAVIS customers come from various industry sectors including retail, government, banking, transportation, manufacturing industry and many more. The predominant product, NETAVIS Observer, is a Linux-based software platform for professional video management. NETAVIS’ solution for retailers is able to distinguish faces in video streams and estimate age group and gender for demographic segmentation of in-store clients. Geographic segmentation is realized by virtue of number plate recognition. Visualizing those segments user-specifically and combining them with contextual sales and weather data in NETAVIS sMart Data Warehouse enables better customer service, enhanced product placement and improved target marketing.
3VR’s VisionPoint™ Dashboard delivers a full suite of video business intelligence solutions that give marketing and store operations executives real-time customer insights to understand shopping traffic patterns and demographics, measure store trends, gauge employee effectiveness and ultimately increase conversions and overall sales.
Cognimatics offers intelligent video and image analysis. With its TrueView® product suite the company has a long and strong track record in innovative imaging products for intelligent retail surveillance. Cognimatics provides answers and insights to brick-and-mortar locations and other physical locations. Automatic customer behavior analysis gives retailers access to additional critical data about their customers such as how many are visiting the store and when, where do they go in the store, what gender or age are predominant, what do they look at in the store, and more.
Agent Video Intelligence (Agent Vi™) provides open architecture and video analytics solutions. Agent Vi’s comprehensive video analytics offering includes software products for on-premise installations as well as cloud-based SaaS, with capabilities ranging from real-time video analysis and alerts to video search and business intelligence. The solutions are fully integrated with a variety of cameras, encoders, video management systems and alarm automation software.
Prism's cloud service transforms any video camera into a business intelligence tool that can be accessed from any device. Retailers large and small, as well as other customers, can use Prism’s platform to remotely audit, manage, and optimize their real-world businesses. The company offers real-time remote access and allows to view stunning images of facilities, stores, and products, distil complex data into easy-to-understand visual summaries, analyze global patterns, trends, outliers and more.
AllGoVision is an enterprise-grade advanced video analytics that seamlessly integrates with existing open platform surveillance systems to provide automatic real time alarms. With 40 plus basic and advanced video analytics features, AllGoVision is a comprehensive solution for all your video analytics needs. The solution supports a higher number of channels/server and can be applied in city surveillance, building surveillance, border security, traffic/parking management and business intelligence. AllGoVision’s Business Intelligence solution can be deployed in malls, departmental stores, exhibition centers and food & beverage stores.
Crosscan offers retailers the insights and tools they need to understand and connect with customers through richer shopping experiences. All data that is generated by Crosscan sensors or third parties is aggregated by Crosscan Connect and analyzed in real time and immediately converted to easily understandable actionables which are brought to the client store staff by the Crosscan App. Besides that Crosscan is able to control a lot of devices like lighting, a/c, multimedia and store audio systems as well as electronic shelf labels. Crosscan not just monitors data quality and heartbeat of a lot of in-store devices; it is able to adapt the store experience to the current visitor.
RetailFlux is a plug-and-play platform that allows clients to obtain valuable insights in a cost-effective way. The company offers in-store CCTV systems to extract shopper activity data. RetailFlux tracks every person in the scene and generates summaries of shopper behavior in heat map format. The data generated by RetailFlux is comprehensive and meaningful: all aspects of the shopper journey are determined including passers-by, impressions and dwell times.
A.I. Tech is a spin-off company of the University of Salerno which specializes in the design and development of intelligent audio and video surveillance systems. It was founded on the scientific and technological expertise of the research group of Intelligent Machines for the Recognition of Video, Images and Audio (MIVIA Lab). A.I. Tech offers several specialized applications: products for intelligent audio and video analysis for the detection of events of interest, integrated platforms, vertical solutions and a library for audio and video analytics for general purpose and embedded platforms.
RetailNext is the first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands and malls. The company is a pioneer in focusing entirely on optimizing the shopper experience. More than 250 retailers in over 50 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, reduce theft and eliminate unnecessary costs. Robust and scalable, the patented RetailNext platform uses best-in-class video analytics, Wi-Fi detection of mobile devices (including Bluetooth), data from point-of-sale systems, and other sources to inform retailers about how customers engage with their stores.
Aimetis, a Senstar company, is a software company which offers integrated intelligent video management solutions for security surveillance and business intelligence applications. The company is one of the global leaders in intelligent video technology and is propelling the adoption of video analytics as an integral component of video management solutions. Aimetis products provide customers with a single platform for migrating from analog video to intelligent IP video solutions.