Whether a store visitor becomes a buyer depends on various aspects of their shopping experience. This solution from Bosch Security and Safety Systems provides valuable information to optimize your experience, satisfy customers and increase sales.
A “moment of truth” in marketing refers to one or more of the steps in the purchase process that are decisive for the customer to complete or abandon a commercial transaction.
Many of these moments of truth are related to the attention received and the customer’s experience in their contact with salespeople or advisors.
For example, if a potential buyer goes to the technology area of a department store with the express intention of acquiring a new cell phone but does not yet know which of them is a better option, they will expect to find, as soon as they arrive, a capable advisor to guide you through the purchase process; If the service does not arrive soon, it is very possible that the client decides to abandon the process in this store and go to another where they are promptly and adequately advised.
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The availability of vendors or advisers at the points of sale is not always under the control of the managers of a store, as they often do not have enough information to know which points and on what days and hours more sales personnel are required or customer service, or when a potential customer is unattended due to being on a low-traffic schedule in which it is considered that it is not necessary to have someone in charge of sales at a certain point.
To address these needs, Bosch Security and Safety Systems has developed its solution In Store Analytics, the primary objective of which is to optimize the purchasing process in these “moments of truth”, with positive consequences for both sellers and end users.
How does In-Store Analytics work?
This system is made up of Bosch 7000 MP FLEXIDOME IP panoramic CCTV cameras, equipped as standard with technology Intelligent Video Analytics, capable of extracting data about the position and movements of buyers.
This data is sent to the cloud, and thanks to advanced processing algorithms it is transformed into information that can be viewed by the interested parties through a personalized web interface. The data provided by In-Store Analytics has a high accuracy rate and allows you to create action plans based on Big Data.
What are the benefits of In-Store Analytics?
In-Store Analytics from Bosch Security and Safety Systems empowers managers and sales managers of large retail stores, as well as owners of retail markets, to have data to help them improve the shopper experience and increase sales Hence its name, which in Spanish means “in-store analytics.” These are some of its most outstanding functions:
1. Traffic visualization
This function makes it possible to identify the movement patterns of customers within the store, to establish the areas with the highest traffic, that is, to know where customers tend to walk the most in order to determine the location and visibility of the different products.
2. Flow analysis
It also allows you to determine the movement of customers through the different departments of a large store. And it also make the necessary adjustments to establish the best access routes for buyers.
3. Analytics for payment optimization in rows
It also allows you to optimize the payment experience with analytics about the lines, including their length and the number of abandonments. With this information it is possible to improve the customer experience.
Specific benefits for retailers
Sales of products retailers often depend on their location within the store and the point where they are visible to customers on their journey through this area. For this reason, marketers often draw ideal paths that customers should follow to purchase certain products. In-Store allows you to track if this displacement that has been planned, is being fulfilled or if it is necessary to modify it, according to the information offered by the solution.
Traffic data also allows retailers to track the quality of customer service over time.
Specific benefits for wholesalers
For Wholesale Markets In-Store Analytics provides operations managers with department and store level traffic information. So you can ensure there are enough staff in place to serve shoppers during peak hours.
In-Store Analytics is also useful in other verticals
But not only retailers will be able to benefit from this solution. At least in Colombia, the company predicts a very good reception of this product in sectors in which they do really require. Such as health promoting entities, government entities, airports, shopping centers and, in general, all types of facilities. That requires excellent service and customer care.
This agile and accurate solution from Bosch Security and Safety Systems will help managers to make diagnoses about service times and payment experience, as well as have proactive video surveillance that optimizes the cost of an all-in-one solution.
Other benefits of In-Store Analytics
- With this tool you can create a new business model for a company.
- It allows to audit all internal processes of the employees.
3. Gives accurate reports on consumer behavior: peak hours, target groups that respond to promotions or discounts, amount of time the buyer spends moving around the store, etc.