Making In-Store Behavior Count
Welcome to the re-launched website from VideoMining, where we are fixated on “making in-store behavior count”. Let me explain what that means and the reason for that fixation.
Marketers in traditional brick-and-mortar retail are at a distinct disadvantage relative to their online counterparts. Every year billions of dollars are spent by Consumer Packages Goods (CPG) manufacturers and retailers on shopper or trade marketing in an effort to influence the purchase behaviors of shoppers in stores. The spending decisions on shopper or trade marketing are made without the benefit of the rich data streams typical in online retailing – such as browsing, clicking and other behaviors leading up to a purchase – that pinpoint factors influencing purchase decisions.
VideoMining’s mission is to make BIG DATA on in-store behavior and accompanying analytics accessible to decision makers so that shopper marketing and trade dollars can be spent more effectively to win shoppers in-store. VideoMining’s in-store measurement platform generates data on every aspect of a shopper’s path-to-purchase and each moment-of-truth (when buy/not buy decisions are made) of millions of shopping trips from a national store panel. The in-store behavior data is integrated with all available data sources – transaction data, loyalty data, mobile tracking data, survey data, etc. to yield unprecedented visibility into the decision process of shoppers. It connects different in-store stimuli or initiatives to actual shopping behavior to optimize the return on marketing investments.
VideoMining is proud to partner with leading brands and retailers in the food, beverage and CPG industry in establishing this new area of in-store behavior analytics. We believe action speaks louder than words and in-store behavior analytics can help in incorporating “the voice of the shopper” in every aspect of retailing – including category management, shopper marketing, merchandising, store design, and customer service.
We are very grateful to our clients who have helped us establish standard metrics and analytical approaches in each of these practice areas. We are especially thankful to our clients who have presented case studies with us in various industry forums over the years. This has helped us create and share very useful illustrations of in-store behavior analytics in action in the Case Studies section of our new website.
The mission of VideoMining is further supported by its R&D division – VM Labs, which continues to produce innovative technologies for measuring and analyzing human behavior. Over the past decade, VM Labs has developed the biggest patent portfolio in the area of human behavior analytics – with wide ranging applications that go beyond retail, including surveillance, homeland security, mobile systems, elder care, entertainment and web search.
We believe we are just scratching the surface of what’s possible with in-store behavior analytics. We invite active participation and collaboration to affect change faster and help brick-and-mortar retail catch up to the online world by “making in-store behavior count”!