Behind every visit to a retail or branch location, there exists analytics that can provide businesses with critical information about their customer behaviours, merchandising and sales. NEXA Group is uniquely positioned to deliver this information with the Video Business Intelligence solution.
The Video Business Intelligence Solution
The solution aids understanding of customer behaviours and trends by providing insight into promotions and advertising campaigns, identifying traffic flow patterns, measuring dwell-time and helping to ensure proper product placement on shelves and aisles. Using existing video surveillance systems, the software delivers information about where, why and how customers browse and shop.
In addition, the analysis can be used along with point-of-purchase/transaction data to further understand buying patterns. Armed with this type of information, it is easy to determine the success rate of promotions, and optimise layout and design to help improve the customer experience and maximise sales.
Improve Merchandising and Display Effectiveness
Video Business Intelligence determines the amount of time customers spend in specific areas of a store or branch, identifies hot spots and dead zones and measures the number of people who actually shop for specific products, rather than just casually walking by. The solution can also help identify the merchandise and displays that attract the most customers, enhance displays that previously attracted little interest and increase the appeal of valuable end cap areas.
Using the detailed information that Video Business Intelligence provides, products can be positioned more effectively, in-store programs can be evaluated and consumer behaviours can be understood.
Optimise the Workforce, Improve Customer Service and Reduce Staffing Costs
Finding the right balance between staffing and meeting customer demand can be a daunting task. Without sufficient staff available, unsatisfied customers and lost sales become a risk. Similarly, over staffing can increase operational expenses, and often does not result in better customer service or extra revenue.
The Video Business Intelligence solution shows how customer volume varies from day to day, week to week, and month to month; how volume is impacted by time of day; and how volume changes on weekends and holidays. This insight can support workforce schedulers to assign staff by actual need, generating significant cost reductions whilst increasing customer satisfaction and sales.
Depending on time, promotions, and other in-store events, managers may need to shift personnel assignments to optimise performance. Video Business Intelligence can provide key information about in-store activity and help understand and predict in-store patterns. Armed with such data, managers can utilise their resources more efficiently, helping deliver a higher quality customer experience.
Make the Most of Valuable Floor Space and Real Estate
Video Business Intelligence can identify in-store traffic patterns and determine the direction in which people move through stores. It also can help pinpoint crowded or congested areas. This information can then be leveraged to improve layout, drive customer interest to more profitable or overstocked merchandise and generate greater revenue.
In addition, the solution can count the number of people who enter and which specific areas they visit. This information is especially useful for determining the percentage of customers that actually buy products and the effectiveness of advertising and merchandising plans.
Please contact us for more information about video business intelligence.