Using Video Analytics Technology To Optimize Secondary Displays in Stores
The Shopper Technology Institute featured an essay by VideoMining Founder & CEO Rajeev Sharma which focused on how video behavior analytics technology can help to boost performance of secondary displays in stores. Below is an excerpt from the article:
Understanding and influencing the shopper’s in-store decision process
has become critical for winning at retail. It involves mapping the in-store “path to purchase” and capturing why and how each “moment of truth” battle is won or lost.
Secondary displays represent perhaps the most effective way to gain visibility along the path of targeted shoppers – significantly impacting performance of a brand as well as category. Despite the fact that both manufacturers and retailers have a substantial financial stake in secondary displays such as end caps, due to a lack of a scalable means for measuring performance, secondary merchandising strategies are largely based on ad hoc rules with incomplete feedback on true impact or return on investment (ROI). Contrast that with marketing practices that are now standard in Internet retailing – thanks to the availability of click-through, page-view and other usage statistics.
The industry needs measurement tools that provide direct visibility into the shopper-decision process and enable shopper-centered metrics for improving every retail touch-point. Traditional research methods such as observation and survey methods are subjective, expensive, and under-sampled; therefore, they are not scalable. There is an urgent need for automation in the process of gathering rich shopper data to have a scalable measurement solution for optimizing retail.
A recent technology breakthrough has led to the development of an in-store measurement platform that fills the need for automatically capturing shopper behavior data. The patented video analytics technologies evolved from R&D spanning over a decade through funding from government agencies such as the Department of Defense, Department of Homeland Security, and the National Science Foundation.
Read the full article here: Using Video Analytics Technology To Optimize Secondary Displays in Stores