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Video Recognition – In-store Analysis
Thursday, January 23, 2020 by : StayinFront Digital
Understand customer traffic, behaviors and opportunities with video recognition.
Artificial intelligence (AI), including video recognition technology, is at the forefront of the digital transformation process in many areas of the economy, including the Consumer Packaged Goods (CPG) sector for perfect store execution. Manufacturers and distributors are actively looking for ways to apply field sales solutions and improve business results, including their Return on Investment.
Today, every company wants to increase its capabilities in the field of data analysis, and no wonder, the amount of data that is aggregated by companies from many sources, such as accounting systems, sales force automation systems, sales data, demographic data and external data such as Google, Facebook, Twitter, eBay, or Amazon, increases geometrically. When previously used approaches to their analysis do not work, it becomes necessary to use modern solutions like Machine Learning AI.
One of the key sources of information and data appearing in stores is customer behavior. Understanding what customers respond to in-store is integral to improving Customer Relationship Management (CRM). To increase their business efforts, companies have recognized that video recognition technology is an integral tool in understanding what customers react to.
One visit of a consumer to a store generates thousands of unique indicators for the buyer, that are collected by deployed cameras and sensors. Using image analysis – Video Recognition, a retailer can understand exactly what attracts the customer’s attention, what their shopping path looks like, how they choose the product, and whether they shop with a list or impulsively. All this data can be useful when planning exhibitions, preparing advertising and promotional campaigns, and creating marketing materials.
StayinFront’s experience shows that the most effective method of collecting data on customer behavior in the store is the automatic recording of customer activity using technology-based AI – video recognition. This technology enables mass and continuous data collection and verification of customer behavior, as well as their analysis, which allows drawing conclusions and a quick response from the retailer.