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Video Analytics with In-store CCTV camera feed for Sports Goods Retailer

When video analytics was initially adopted by retailers, it was done so with the aim of reducing or even avoiding losses from incidents such as shoplifting and employee fraud. It was seen more as a security protocol and nothing more.

However, today video analytics has moved on to being something much more – it has grown to be a tool that can be leveraged for business growth. The video surveillance market is set to hit $ 82 billion USD by 2025. The adoption of video analytics by retailers has increased by 16% year on year for the last 7 years.

Video analytics delivers value to retailers in many forms – in terms of measuring store performance, enhancing the customer experience, increasing engagement with customers and ensuring customer loyalty.

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Many retailers face the issue of high footfalls but disproportionate point of sales revenue. The use of video analytics allows retailers to not only make decisions based on footfall data, but also gives them the liberty to drill down further and analyze the following:

Indium’s cognitive analytics capabilities helped one of the largest sporting goods retailers in the world to increase their customer satisfaction levels by more than 15%.

The client had 1500+ stores across more than 45 countries. Being a giant in the space and competing in the fast-moving retail market meant business decisions and market strategies needed to be flexible enough to change quickly as well.

To achieve this, there was a need for real-time store visitor analytics. Footfall data is what most companies use today to achieve this. However, the client wanted to step it up by linking footfall data with POS data. This needed a robust yet simple solution that generated accurate results.

The requirement laid out by the client was to effectively improve performance of the store and increase customer satisfaction. In order to meet the requirements, Indium had to:

Seeing this as an opportunity to solve a difficult problem for our client with an out of the box solution, Indium implemented the following solution:

Solution Implementation:

Indium analyzed the video feed data collected from the cameras installed on the shop floor and

built a cognitive analytics model solution that leveraged the data to meet the requirement:

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Business Impact:

The post Video Analytics with In-store CCTV camera feed for Sports Goods Retailer appeared first on Indium Software.

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