technology analytics
Published on : Oct 8, 2024
Standard AI, a leader in empowering retailers with data-driven insights, has launched new features for its VISION Analytics Platform. The most notable addition is the Visual Engagement Score, a tool that provides retailers and brands with real-time understanding of how shoppers interact with in-store products, media, marketing, and promotions. This feature is set to revolutionize physical retail by offering insights into shopper behavior similar to what e-commerce analytics provides.
Visual Engagement Score:
Retailers can now track how shoppers engage with products, ads, and high-impact zones in real time. Similar to digital marketing's active engagement score, this tool correlates merchandising and conversion rates, enabling a deeper understanding of the customer journey in physical stores.
Data-Driven Insights on Shopper Behavior:
The VISION platform, launched in March 2024, uses advanced data analytics to measure factors like dwell time, shopper orientation, and proximity to products. Retailers can now visualize the full conversion funnel, gaining insights into both converting and non-converting shoppers.
According to Angie Westbrock, CEO of Standard AI, brick-and-mortar stores have long lacked visibility into shopper behavior. “VISION is bringing the power of e-commerce analytics to physical stores, offering unparalleled real-time insights into the customer journey," she said. Retailers can now leverage these insights to optimize store layouts, improve product placement, and personalize the shopper experience to drive engagement and sales.
VISION's proprietary computer vision technology offers precision in analyzing shopper interactions while protecting privacy. It filters out employees and anonymizes shoppers, ensuring privacy without facial tracking. This allows retailers to gain accurate, real-time insights without compromising customer trust.
Following a successful 12-week pilot with a major retailer, Standard AI plans to expand access to these insights for both existing and new customers.