Bosch Security Systems introduces In-Store Analytics, a solution to provide retailers with valuable insights on store traffic for improving operations, customer engagement and sales.
As part of the solution, Bosch IP panoramic cameras are installed to provide high visibility of the retail floor. The cameras use on-board Intelligent Video Analytics to create position data of shoppers’ movements. This data is then sent direct to the Cloud where it is further processed without video streams ever leaving the retailer’s premise, thus maintaining shopper’s privacy. Unlike many systems that need on-site PCs to pre-process the video streams, limiting their performance to a few cameras per site, Bosch’s solution easily scales to cover even the largest retail stores with a high camera count and large multi-store chains.
In the Cloud, position data is mined into performance results and visualizations that are shared with the retailer through customized web interfaces for merchandisers and operations managers.
For merchandisers, In-Store Analytics delivers shopper behavior insights to enable more informed decisions. Sales of retail products often depend on their placement within the store and at what point shoppers see the items on their journey through the retail floor. In-Store Analytics provides merchandisers with store traffic visualization tools, such as a flow analysis, to determine if shoppers are moving through the store in the way that they intended. The solution shows where shoppers walk, stop and dwell, and provides performance metrics such as engagement times and rates, based on the actual number and behavior of shoppers at a display. This helps merchandisers evaluate the performance of each display in the store, providing them the information they need to increase customer engagement with products, which can lead to increased sales and revenue.
For operations managers, In-Store Analytics provides insights into department and store level traffic. Operations managers can use these insights tool ensure sufficient staff is onsite to serve shoppers during peak times. Traffic data also enables retailers to track customer service quality over time.
“In-Store Analytics was developed based on input from retailers who stressed the value of actionable data,” said Chris Larcinese, Regional Marketing Manager, Bosch Security Systems.
Retailers will benefit from actionable insights from the solution, as the shopper data delivered by In-Store Analytics has a high accuracy rate. This is due to the superior reliability of the Intelligent Video Analytics that comes standard on Bosch FLEXIDOME IP panoramic 7000 MP cameras, as well as the advanced cloud-based processing algorithms that filter the shopper position data according to individual store environments.
For more information on In-Store Analytics from Bosch, visit cloud.boschsecurity.com