Capillary Brings Artificial Intelligence into Retail Stores- Launches VisitorMetrix
The AI embedded in VisitorMetrix is fed with over 3 Million images in order to train it to accurately identify between human and non-human objects and between individual and group walk-ins.
Capillary Technologies, homegrown Omnichannel engagement and commerce platform company, has announced the launch of its new product VisitorMetrix, an Artificial Intelligence based, Computer Vision and Machine Learning-powered visitor counter for retail stores to analyze customer behavior on the shop floor. VisitorMetrix enables brands get insights into their visitors and improve store efficiency, conversions and campaign effectiveness.
The AI embedded in VisitorMetrix is fed with over 3 Million images in order to train it to accurately identify between human and non-human objects and between individual and group walk-ins. Currently, VisitorMetrix is able to achieve more than 95% accuracy. With time and processing of more images, the system accuracy continues to increase.
VisitorMetrix provides valuable insight through its real-time dashboard and trend analysis engine, which offer to help brands and shopping malls better understand the 'Power Hours’ of their stores. This, in turn, enables more efficient staff deployment and break timings to be scheduled.
With the ability to study trends in footfalls across hourly, weekly, and monthly time periods, in addition to analyzing the frequency of visitor trends, brands will have the information to more efficiently allocate manpower resources according to the specific demands of their retail locations.
VF Brands, with a portfolio of iconic lifestyle brands including Vans, Wrangler, and Lee, had deployed VisitorMetrix across 6 cities and has signed up to roll it out across 70% of its stores in India.
Speaking on this new product launch, Ganesh Lakshminarayanan, COO, Capillary Technologies commented, “Capillary’s VisitorMetrix is built to apply cutting-edge technology to optimize retail. It not only enables brands to analyze historical store traffic patterns to determine staffing requirements, but can also give immediate responsive data to changes, including studying the impact of promotional campaigns. Brands can use this information to strategize their operations and marketing campaigns to look deeper at their performance and pull the right levers for improved productivity. The benefits of the product is not only restricted to brands, but also extends to the shopping malls in analyzing their layout effectiveness and understanding their circulation better. This would strengthen their strategy in improving square feet productivity creating the right ecosystem for both brands and consumers for a great retail experience”.
Speaking on this partnership, Pankaj Agarwal, Retail Director of VF Brands commented, “Being the innovation leaders in the denim space, at VF Brands we wanted to enhance the performance of our stores through technology. We will be using Capillary VisitorMetrix’s real-time analytics capability at 70% of our brand stores across India. This will help us measure the store KPIs accurately, giving us a strategic edge in enhancing our ability to influence the store performance as well as to feed in analysis required in product and backend to support the stores effectively. This will help enhance value for the consumer at the store. VisitorMetrix’s dashboard will make us more agile in adapting to changing trends. The goal is to optimize our resources ensuring they align with the demands of our consumers.”
Adding VisitorMetrix to Capillary Technologies’ bouquet of services is in line with the company’s goals of providing technological solutions to retail outlets to enhance consumer experience and improve ROI through unified platforms. Additionally, applying AI to and collecting data on customer behavior and responses will enhance VF Brands’ already impressive customer engagement strategies and will set a new standard in customer experience enhancement by retail outlets.
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