Company News • 07.02.2018

Levelling the retail analytics playing field

Network cameras plus retail analytics equals insight

Data. Increasingly at the heart of every business, the ability to collect, analyze and derive actionable insights from multiple sources if data in real-time can be the difference between winning a customer or seeing them captured by the competition. And one sector where the use of data can be to the difference between success and failure is retail.

Supplier
Logo: Axis Communications GmbH

Axis Communications GmbH

Adalperostraße 86
85737 Ismaning
Germany
Mens Wear Shop - Männer stehen an der Kasse an und werden per Video überwacht...
Source: Axis Communication

As the retail battleground continues to be one of the most brutal sectors across the globe, one of the areas where, traditionally, brick and mortar retailers have failed to keep pace with their ecommerce rivals is in the capture and use of data to optimize the customer experience, from entry to the store to the checkout and beyond. While digital visitors to an online retailer’s website can be tracked analyzed, and influenced throughout their journey from site entry to sale, retailers in the real world have struggled to source the same level of analytics. Until today, that is.

Network cameras plus retail analytics equals insight

Retail analytics software integrated into network cameras gives physical retailers the same, directly comparable data that is available to online rivals, with the advantage that they can enhance the physical retail environment and experience to increase rates of sales conversion.

Let’s take one of the fundamental measure of an ecommerce website: traffic or visitors. With relatively simple people-counting analytics, store visitors can be counted as they come through the door. Our ‘visitor’ numbers have been captured.

Next, the user journey. Again, analytics combined with network cameras will allow you to see the customer’s journey through your physical store, highlighting where they pause, which point of sale displays capture their attention or, just as critically, don’t. Again, a direct comparison with online analytics shows how the ‘user journey’ in the physical environment can be optimized. Video displays and even audio announcements in the physical retail environment can then be used to entice customers to buy, in the same way that pop-up banners and tailored ads are used online.

Online retailers offer live chat when they can see that customers are stuck, confused, or need clarification about a product. Of course, in the online world, much live chat functionality is delivered through automated bots rather than real customer service people, which gives the physical retailer a clear advantage.

Finally, an area of ecommerce that we’re all very familiar with: basket abandonments. It’s something that costs online retailers millions of sales each year. Customers have been through the journey, added items to their virtual basket but, for one reason or another, decide not to check-out and buy. In the real-world, one of the principles drivers of basket abandonment (often in a very real sense) are long queues at the check-out. With queue monitoring software, retailers can react to growing queues and wait times, bringing staff to check-outs and opening more tills to alleviate the pressure and, as a result, close more sales.

related articles:

popular articles:

Thumbnail-Photo: Bright future for Copenhagen-based Irma Store...
15.06.2020   #electronic shelf labels (ESL) #price labelling

Bright future for Copenhagen-based Irma Store

Automatic price updates with ESL

Irma Smedetoften is located in the heart of Copenhagen's Northwest Quarter. The area around the Irma store is part of an urban development project where, among other things, the local trade district will be strengthened. Irma has also recently ...

Thumbnail-Photo: Interface for quick serial emulation and enhanced mPOS integration...
26.06.2020   #POS systems #software applications

Interface for quick serial emulation and enhanced mPOS integration

APG expands mobile interface portfolio to enhance connectivity options at the point of sale

APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today the release of a new USB interface option: the 485 USBProLite™ USB to Serial Emulation Interface. This interface solution extends the ...

Thumbnail-Photo: Europe to dominate open banking implementation...
26.05.2020   #mobile payment #payment systems

Europe to dominate open banking implementation

Instant messaging users to reach 4.3 billion in 2020, as new payment services emerge

A new study from Juniper Research found that the number of instant messaging users will reach 4.3 billion in 2020, rising from 3.9 billion in 2019. This is a growth of 9 percent year-on-year, largely driven by an increased need for remote ...

Thumbnail-Photo: Zebra Technologies to acquire Reflexis Systems, Inc....
10.08.2020   #POS communications #workforce deployment

Zebra Technologies to acquire Reflexis Systems, Inc.

Acquisition helps Zebra empower every worker at the edge to execute the best next action

Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, today announced it intends to acquire Reflexis Systems, Inc., a ...

Thumbnail-Photo: CCV announces consolidation of its international payment division,...
02.07.2020   #mobile payment #payment systems

CCV announces consolidation of its international payment division, focuses on market innovations

Under the flagship of CCV GmbH, the company plans to bring its innovation into specific international markets

CCV Group B.V. has announced that all of its international business activities will now be consolidated and run within its Germany-based division - CCV GmbH. CCV GmbH will carry out the activities of the former CCV Deutschland GmbH and CCV Easy, a ...

Thumbnail-Photo: Behind the curtain: Inside Amazon
18.05.2020   #online trading #marketing

Behind the curtain: Inside Amazon

A Frankfurt startup helps sellers to improve their ranking on the platform

"I want to successfully promote and sell my products on Amazon" - that's the goal of many sellers. It comes as no surprise as the Seattle-based online store has evolved to become the largest e-commerce marketplace in Europe since its ...

Thumbnail-Photo: Payment and retail - what happens after the crisis?...
09.07.2020   #brick and mortar retail #payment systems

Payment and retail - what happens after the crisis?

Interview with Christine Bauer from CCV

We ask Christine Bauer, Vice President International Sales of the payment service provider CCV, which has been firmly established in Germany for 25 years and internationally for 60 years.Mrs Bauer, CCV has been on the market for a very long time, ...

Thumbnail-Photo: Stay safe with VariPOS
11.05.2020   #cashpoints #terminals

Stay safe with VariPOS

How technology helps – Stay safe at the point of sale

Technologies for product identification and payment authentication are great for improving the customer experience with speed and accuracy, but these technologies are also being seen as beneficial in the wake of the Coronavirus Pandemic. ...

Thumbnail-Photo: Electronic shelf labels: photo store introduces new technology...
09.05.2020   #electronic shelf labels (ESL) #electric displays

Electronic shelf labels: photo store introduces new technology

Cooperation between Photografica and Delfi Technologies

Photografica is a professional photography store in the heart of Copenhagen. Here, personal counseling and service play a crucial role. To the benefit of both employees and customers, the store has installed electronic price tags.With a central ...

Thumbnail-Photo: COVID-19 accelerates adoption of contactless payments...
20.05.2020   #payment systems #coronavirus

COVID-19 accelerates adoption of contactless payments

Consumers around the world are switching to contactless to help with social distancing

RBR’s Global Payment Cards Data and Forecasts to 2024 reportreveals how increased contactless card issuance and acceptance combined with changes in consumer behaviour are driving growth in contactless payments. In 2018, the number of ...

Supplier

POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen
Apostore GmbH
Apostore GmbH
Uferstraße 10
45881 Gelsenkirchen
Adasys GmbH – a Poindus Company
Adasys GmbH – a Poindus Company
Max-Planck-Straße 10
70806 Kornwestheim
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Poindus HQ - Taiwan
Poindus HQ - Taiwan
5F., No.59, Ln. 77, Xing-Ai Rd.,Neihu Dist.
Taipei City 114
CCV GmbH
CCV GmbH
Gewerbering 1
84072 Au i.d.Hallertau
Reflexis Systems GmbH
Reflexis Systems GmbH
Kokkolastr. 5-7
40882 Ratingen
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal