Retail video monitoring: Setting up a new kind of shop

Monday, 21 March 2016

Author: Toyah Hunting

Partner News

Retail video monitoring: Setting up a new kind of shop

With shopper behavior changing, so is the world of retail. And it’s changing rapidly. Retailers are experimenting to attract new customers as well as retain the old ones. Retail video analytics play an important role in this

Retail video monitoring: From surveillance to new business spark

The benefits of installing a surveillance system in retail is a no brainer: It saves money through limiting theft and fraud. With a video monitoring system in place, more and more retailers are moving into the field of applied business analytics, putting solutions like people counting and heat mapping to use in a shopping context. In a nutshell, analytics allow retailers to offer relevant products or services based on the data they have about their customers. The list of proven benefits includes more effective marketing, new revenue opportunities, better customer service and improved instore operations.

Prism: Seeing shopper behavior in action 

Prism, a San Fransisco-based company founded in 2011 and ranked as one of Forbes top startups in 2015, offers new ways of visualizing and analyzing retail space. They help businesses understand and improve the in-store customer experience through video analytics. Via the integration to Milestone XProtect®, Prism provides remote, mobile access to real-time images from all the cameras in abricks-and-mortar space. All data, images and reports can be shared across an organization and accessed remotely through a suite of mobile applications.

Here’s how it works: Most stores and restaurants have surveillance cameras running 24-hours a day, with a huge amount of video remaining unused. Prism constantly analyzes this video data and formulates insightful visualizations from them, while guarding customer privacy. With machine-learning algorithms that  that remove personal information, all while preserving information, all while preserving the paths and interactions people take in a store, Prism provides anonymous and aggregate trends.

Whether you work in merchandising and need to evaluate a new product launch, or are on the loss prevention team and need a lens into the store: all of this information is immediately accessible. This helps owners gain insight into the performance of design or display, making it possible for them to alter it to fit customer needs and behavior.

The revolution will be televised

With more than 350 retail customers in 80 countries, Prism has tracked over two billion customer paths and interactions and is in the midst of a growth spurt with no end in sight. They deliver their software as a service; a business and price model that is quite unique in the industry.  “Our ability to turn data into hardcore business decisions, paired with our strict approach to privacy, are two factors that contribute to the considerable success we’ve seen in the five years we’ve been around”, says Jaimie Hwang, Director of Marketing at Prism.

Cliff Crosbie, Senior Vice President of Global Retail for Prism says technology like this is revolutionizing retail. "You're able to highlight fixtures, tables, anything in your retail space and get a very clear read of what products people are picking up and what they're not," he explains. "If you look at the whole floor, you can see exactly where people have walked and where they haven't, and that gives you a good idea of what's working and what's not." He adds that retailers have spent ages doing manually what Prism is now doing with cameras and computer software. "This has taken a lot of guesswork out," he says.

Check out or Solution Finder for more info on the Prism and Milestone integration

See how Xprotect Transact can support retail and logistics businesses' core processes by attending our webinar on March 31 .