State College, Pa., September 21, 2021 – VideoMining, the leader of in-store behavior analytics for CPG retail, announced the release of a new platform called VM Express for rapid in-store testing and shopper research. The new prescriptive analytics platform will utilize advanced sensing and artificial intelligence to enable CPG manufacturers and retailers to quickly uncover opportunities for improving shopper conversion or to evaluate the effectiveness of innovations.
VM Express has been designed for fast deployment in targeted areas of any store for capturing relevant shopper behavior and for interpreting it in various retail contexts. For example, when deployed over a given category, it can detect and quantify shopper “friction” that results in lost sales, such as a hard-to-shop category, poor assortment, out of stock, crowding and other common issues. The platform can also create a fact-based understanding of the category and brand decision-making process using AI.
The prescriptive analytics from VM Express is aimed at reducing shopper friction and leveraging the understanding of shopper decisions to improve category/brand performance. As a testing platform, VM Express analyzes the holistic impact on shopper behavior from new product introduction, implementing new displays, planograms, signage, adjacencies and product packaging.
“Today more than ever, both CPGs and retailers are under tremendous pressure to innovate rapidly in a fast changing shopper and retail environment,” stated Dr. Rajeev Sharma, Founder & CEO of VideoMining. “We have responded to the industry’s need to quickly and easily test ideas in real stores by leveraging our sensing/AI technologies and more importantly our team’s experience with hundreds of actual projects over the past decade across all retail formats.”
The custom research and testing capabilities of VM Express complements the Shopper Insights Tracker and MegaStudy programs from VideoMining. The Tracker program monitors the shopper behavior trends for all categories and brands in the Grocery and Convenience store channels. The MegaStudy program provide a host of foundational insights for each channel for any given category, shopper segment or issue of interest. For example, the Display Deep Dive from the Grocery MegaStudy can uncover the basic principles for optimizing a display, which can then be used for developing and testing new display strategies using the new VM Express platform.
The VM Express platform utilizes VideoMining’s proprietary IoT sensors with on-board AI. The sensor combines an active camera with a wireless connection to enable easy installation in any site with a limited footprint. These sensors power VideoMining’s unique cloud-based data fusion and delivery process, generating prescriptive insights from large-scale and in-depth shopper behavior data.
The VM Express platform was developed by VideoMining with the mission of advancing the science and technology of in-store behavior analytics. With a portfolio of over 50 patents and unique technologies for capturing and interpreting behavior, VideoMining continues to be the leader of in-store behavior analytics.
About VideoMining
VideoMining provides in-store shopper behavior data and insights to CPG manufacturers and retailers, creating visibility into the complete “in-store” Path-to-Purchase and helping drive ROI from investments in shopper marketing, category management and store/brand innovation. VideoMining’s client base includes a majority of the top 50 CPG retailers and manufacturers.
VideoMining owns and operates industry’s largest “in-store panel” in partnership with leading Grocery and C-store retailers, tracking over 150+ Million trips per month. VM panels are powered by its patented sensing and artificial intelligence technologies to measure real world, in-context shopper behavior. VM integrates this shopper behavior data with transactions, planograms, loyalty and promotions data providing a 360 degree view of the complete purchasing process.
Email: solutions@videomining.com
Phone: 800.898.9950
Address: 403 South Allen Street, S101, State College, PA 16801
Website: https://www.videomining.com
Popular Articles
