Retail stores can improve revenue by using new consumer-behaviour tracking technology linked to cloud-based video analytics, according to a spokesman for the Japanese consumer electronics giant Canon.
Shunichi Morinaga, president and chief executive of Canon Hongkong, said increased sales revenue at physical retail shops is one benefit of the system which monitors consumers using real-time data analysis.
For example, one technology called a people counter can analyse roughly 1,600 customers in a specified area using surveillance video, which then converts the data into useful business metrics.
Another technology uses facial recognition to analyse a consumer’s age, gender, and ethnicity. This approach can help businesses to assess demographic distribution and develop consumer profiles.
Anther approach uses heat-mapping technology to enable shopping malls managers and real estate developers to track foot traffic. The tool can be used to identify popular areas and attain rent optimization or be used to better allocate resources.
For retail shops, a heat-mapping solution provides insight on peak shopping periods, and seasonality, enabling shop owner to improve manpower management and resource allocation.
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