ShopR360® is a unique cloud-based video analytics platform founded by Elixir Softech Pvt Ltd to capture in-store information and trends. With patented technology and presence across multiple geographies including India, Middle East, and Singapore, ShopR360® is already delivering business advantage to brick-and-mortar retail outlets – single brand/multi-brand, hypermarkets, QSR and Mall operators.
The ShopR360® solution easily integrates with the existing CCTV infrastructure of a store to give actionable insights into “in-store” customer behaviour and conversions in the store.
It provides retailers with complete information combined with intelligent, “actionable” analytics that helps businesses re-define customer engagement strategies, optimize product and promotion placement, improve store operations, and much more. The solution includes relevant and easy-to-use dashboards based on:
- Smart Footfall Counting
- Heat Maps
- Shopper Paths
- Dwell Times
- Key Productivity Metrics aligning to Departmental KPIs
- Retail Expertise – that adds powerful context to the information
The solution was developed as a response to the existing challenges faced by retailers:
- No platform to get visibility into in-store shopper data: while physical and e-commerce retailers share the same need for store performance insights, physical retailers do not have access to technology that offers comprehensive insights in a single-point platform – resulting in huge gaps between their service delivery and shopper experience. Unlike e-commerce retailers, most of whose data are measurable through web analytics, brick-and-mortar retailers have struggled to collect similar data in earlier years.
- Data points restricted to only customers who bought: Beyond purchasing information gleaned through point-of-sale (POS) data and manual traffic counters, the stores have very little information about what happens inside stores. While loyalty CRM programs allow for another layer of information about the top customers, there is very little or zero information on those who never purchased items during their visits.
- Unable to capture real-time shopper behaviour: Constant changes such as new store transactions, fluctuations in traffic throughout the day, and changes in shopping behaviours make it imperative to collect and analyse data frequently and in near real time.
ShopR360® offers data that corresponds to tangible metrics, and hence builds-in“actionable” business intelligence into operations. It negates the impact of manual review and analysis, human error, and skewed and very limited data. Moreover, it delivers scalability across a large number of variables for stores and helps plot trend lines over a period of time. All of this is achieved through a seemingly simplistic yet powerful and near real-time Video Analytics technology.