Brick and mortar retailers have a unique set of KPIs for measuring their success. In this competitive market, meeting those benchmarks can be the difference between keeping the lights on or fading away to in-store irrelevance and having only an ecommerce offering – if not disappearing altogether. The burgeoning tech stack that promises retailers improvements in customer service, marketing, merchandising, and security can make choosing the right technology investment an overwhelming decision. The added complexities brought on by the COVID-19 pandemic and the need to comply with health and safety guidelines only intensify this pressure.
Video surveillance, often an existing component of retailers’ security strategy, is gaining more attention as its versatile applications are coming to light. When video analytics is applied to aggregated video data, it can be leveraged to provide valuable business insights, for real-time response, forensic investigation, or long-term strategic initiatives. The metadata from collected in-store video can be analysed at a unique location or across many or all sites to understand the impact of particular trends at large or focused scale. Gaining access to this operational intelligence from an existing but often untapped source is a game-changer for many retailers.