Retail Digital Transformation and the Growth of Retail Analytics

The retail analytics market is expected to grow from USD 5.84 billion in 2021 to USD 18.33 billion in 2028, at a CAGR of 17.7% in that period. This is due to the growth of e-commerce, digitisation of retail stores, and the need to improve consumer experience to earn and maintain customer loyalty. The retail […]

Retail Challenges in 2022

Retail is continuing to struggle with changes accelerated by Covid-19. The ability to embrace and adapt to the rapidly changing industry will determine the winners. Here are some of the struggles retailers face today: Omnichannel approach: By now, we’re all aware of the omnichannel journey customers go through when shopping. From discovery to transaction, the […]

Why Video Analytics: The Quick Answer

McKinsey’s forecast positions video analytics as one of the most important IoT solutions for retailers. It gives retailers access to valuable insights into customer behaviour which can be used to improve customer experience, streamline marketing, strategic decision making, and ultimately, maximise store revenue. All-in-one solution for in-store data. Video analytics can provide powerful insights on […]

Optimise your retail store with heat maps

Heat maps are produced using video analytics software tools which track shoppers through the store. They are a type of data visualisation which uses colours to represent information such as high and low trafficked areas, time spent, and interaction with products in a simple image with high accuracy. There are two types of heatmaps: heatmaps […]

How Can Modern Technology Help Reduce Return Fraud?

Christmas is approaching. It is the time of gifting and returning. So, retailers are trying to tackle return fraud at a time where returns are at their highest, increasing the chances of fraudulent returns. In the USA, 25% of annual returns happen between thanksgiving and New Year’s Day. That’s not to say return fraud is […]

5 Technologies for Retail Loss Prevention

  Theft and shrinkage have been causing big losses for in retail. According to a 2020 BRC survey, crime alone had cost retailers £1 billion in 2019 and a whopping £1.2 billion was spent on crime prevention. Technological advances are among some of the most effective loss prevention methods as they are reducing shrinkage, catching […]

Theft prevention with video analytics

The most common method for deterring and identifying theft is currently CCTV cameras. 54% retailers have said that CCTV systems have significantly reduced theft and fraud by staff and contractors. However, they have limitations, and theft cost UK retailers £2.2 billion and US retailers nearly $62 billion in 2019. 2020 also made retail stores a […]