People Counting Technology: How do they function?
Published on 17 September 17
Mike0
The Future of Smart Retail
In a recent article by Retail Wire, declining traffic is often cited as the most frequent reason for lackluster store performance. Interestingly, the article also suggests that: What retailers need to realize is that it’s not just about the amount of traffic in their stores, but what they do with it. The good news is, many retailers have now realized the issue and are now seeking solutions from retail based analytics to optimize their traffic.
ABI Research suggests the retail analytics market to grow over $3 Billion by 2018. This is due to retailers’ needs to discover shopper insights, optimize their store performance and measure conversion rates. Ultimately, customer counters are the essential technology for retailers to quantify their traffic.
What is People Counting?
People counters are electronics devices which measure the amount of people entering and leaving a designated space. Retail traffic counting has not always been easy. What was once a manual responsibility has now transformed into a smart analytics tool with easy application, management and analysis.
In present day retail, people counting devices are usually placed discreetly above the entrance/exit. The devices are programmed with algorithms to show high accuracy in locations with high traffic volume. Data generated by people counters are customer in and out counts and can be accessed by management through Cloud based reporting servers.
Benefits 101
Customer counting technology measure the retail store conversion ratio when combined with sales data. For benchmarking purposes, management can compare performances across different locations/branches. Retailers can also use existing data to calculate traffic and visitor patterns during peak time frames such as holidays and rush hours. Thus, retail brands can roll out smart store with an optimized layout, operations to deliver the optimum service.
V-Count’s Solution & Algorithm
V- Count’s 3D Alpha+ device consists of the leading stereo vision technology consisting of a high resolution camera which generates 3 dimensional views.The device is also embedded with double lens to capture and locate the head of a person under any lighting condition. Thus, eliminating false projections and depicts accuracy in complex behaviors. Traffic count is based on the height, speed, mass, direction and projects a high accuracy rate of 98%.
Accessing the Data
All data from V-Count’s people counting devices are transferred through a secure, Cloud based reporting server with guaranteed uptime to be accessed through desktop and mobile. The Cloud account enables retailers to measure traffic trends and generate insight reports on different set time frames anywhere and anytime. In order to measure conversion, the server integrates transactional data to provide a quality understanding of retail sales.
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