Benefits of Retail AnalyticsBY Australian Retailers Association
Suez Technology is dedicated to identifying the drivers behind purchases. Their retail analytic software allows brick-and-mortar retailers to measure big data in real-time. Suez Technology uses a wide range of technologies from videos to heat mapping intelligence to learn where customers are located, how long they spend at certain spots and what they buy. Their software then presents the information collected in a way that is easy to understand. Stores can later interpret the data to understand customer preferences and patterns. The goal of Suez Technology is to pave the way for retail optimisation.
Retail Perforce Optimisation
Retail stores face a new challenge in attracting foot traffic: online stores. Retailers can increase their sales and offer customers a better experience by utilising video retail analytics. Suez Technology creates programmes that explain how a customer gets to a product, how long that person browses and their opinion of their purchases. Their retail analytic software is also able to see whether customers flock to promotional offers, how long they linger at the product site and what other items they pick up.
Suez Technology's methods include heat mapping, in which an intelligent video server (IVS) paired with streaming cameras shows the pattern and length of human traffic in an area; gender recognition, in which the IVS and cameras distinguish different genders; dwell time, in which the two machines determine how long a person has spent in an area; and traffic flow analysis, in which the tools map the different degrees of congestion levels between days, weeks, months or years. Additional methods include people counting, demographic analysis, license plate identification and Point of Sale (POS) integration.
Real-time retail presents a tremendous opportunity for merchants to understand how customers react at special times of the year, such as the winter holiday season, as well as to new advertising campaigns, new looks for the store and to changes in staff and inventory. Suez Technology's video and software combined also gives managers perspective on how shoppers react to particular announcements ("this sale will end soon") or a safety issue, such as a slippery floor. The video and software further allow stores to capture how customers interact with people they are shopping with, other customers in the store and technology in the store, such as a price-check station.
Utilising all of the big data collected helps a store or chain determine variance of customer behaviour patterns between store locations, identify ways to optimise store layout and align the number and training of staff members with customer preferences.
Shopper Experience Optimisation
Suez Technology provides its customers with methods and ideas to optimise a shopper's experience. Their in-store retail analytics gather the big data the technology has collected over a desired period of time. Suez Technology's equipment and software are suitable for both large and small retail businesses.
Suez Technology's cameras, DVRs and software provide businesses with the opportunity to enhance customer experiences by fulfilling needs and eliminating concerns. For example, cameras can pick up customers' reactions to free Wi-Fi or a special discount offer for mobile users. A store employee might be seen as intrusive if a shopper was using a mobile device and the employee attempted to start a conversation. In contrast, video is a non-confrontational way to monitor customer reactions.
Suez Technology strives to make big data more accessible and comprehensible. Stores and chains who would like to increase customer engagement and move toward retail optimisation are welcome to try their in-store retail analytics system at the Inside Retail Exhibition - March 29-31 – Stall #105 – ICC Sydney
ABOUT THE AUTHOR
Australian Retailers Association
Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association representing Australia’s $310 billion sector, which employs more than 1.2 million people. As the retail industry’s peak representative body, the ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.