Millennials and Generation Z are now among the most affluent luxury brand consumers and their digital-led-approach to shopping is influencing global luxury trends. This market also demands personalized and seamless experiences, both in their online and offline activity. Meanwhile, in their consumer preferences, they are highly concerned with sustainability, and are placing increased demands on retailers.
In reaction, luxury brands and retailers have an increased focus on the sustainable design and production of luxury goods. For a retailer’s sustainable approach to be real and convincing, responsibility must also extend throughout the entire supply chain. It’s crucial for a luxury retailer to partner with a network camera vendor that they can trust, and that has an alignment in values.
While optimizing the customer journey is essential, a luxury retailer has to maintain security and protection across high value stock. This includes theft prevention, as well as minimizing false claims and fraud. The latest network video technology is a key tool to achieve this, but to create a frictionless customer experience means that cameras have to be highly discrete while maximising the capability to identify and prevent theft.
Weaving analytics into your surveillance system will help you optimizing the shopping experience. Video technology providing actionable insights can enable the retailer to maximize the effectiveness of the store, keep track of campaign success and support in telling the brand’s story on digital displays.
A frictionless in-store experience from A to B
Though the customer journey often begins online or through wider marketing channels, the in-store environment adds value that the digital arena alone cannot. Experiential retail and scheduled in-store appointments, where customers can benefit from additional services and product trials, continues to push the in-store advantage both in flagship and pop-up stores.
Continuing the customer journey to the in-store environment, the display window is the first physical touch point. Getting this right is one of many imperatives for a luxury brand. Camera analytics can help understand the accumulation of potential shoppers at the store window, and with people counting technology, it’s possible to understand how changes to displays convert into footfall.
At the same time, storefronts in high streets still require 24/7 protection. Not only is intrusion likely to result in the loss of high value stock, but the damage and disruption to business continuity can cost far more. To defend the store front, video with high image quality that can clearly identify critical situations is vital, whether in bright sunlight through to night time hours.
Optimizing the speed of response to incidents, as well as increasing the efficiency of security teams, can be achieved with camera analytics. This is particularly useful during night time hours to detect loitering.
While security is crucial, the technology deployed has to maintain a frictionless experience and achieve consumer privacy. To ensure the anonymity of passers-by as well as those browsing the store window, camera analytics can blur-out human faces. This real-time masking technology safeguards privacy while maintaining activity monitoring.
Store entrance
Entering the store, a greeting door supervisor opens the door. As it remains a challenge to hire and retain well trained security staff, wearable cameras enable documentation of customer disputes to protect from false allegations. Like in-store cameras, the latest wearable devices are compact and discrete. To increase consumer privacy while maintaining safety, wearable cameras also have the option to only record when required.
Deployed, above the entrance, people counting technology can also keep track of customer flow at various times of the day, week, and month, to optimize efficiency.
Sales floor
To build on the in-store brand experience and increase customer value, luxury retailers provide events and services which can be supported by in-store digitalization. Here, camera analytics can trigger specific events to enhance the customer experience, such as a digital sign to display a specific promotion.
But to improve the management of experiential retail services requires a comprehensive overview of in-store activity throughout the customer’s journey. A network camera system provides the data to optimize these services. Camera analytics can help track time spent in specific areas like in the seating area where staff demonstrates product, this helps store manager plan resources. The same technology can also be used to analyze the success of product displays.
As customers progress on their in-store journey, discrete cameras are required to deliver security and protection while blending into the surroundings. Cameras can be given a customized coating if required, and they can also be integrated within light fittings. In-store cameras too can be integrated with dynamic masking to ensure consumer privacy. In combination with these cameras, audio speakers can also be used for crime prevention at night by relaying warnings, while improving the experience by playing appropriate music during opening hours.
The checkout is the final station of the shopping journey in the physical store. Here, sales conversions can be measured and compared to footfall to understand the efficiency. It’s also possible to analyze metrics such as the duration of staff and customer interaction before a sale is closed. And, with video footage from the checkout, retailers can track purchases and limit investigation time for claims.
Seamless integration
Through a seamless integration of camera technology with video analytics, embedded in a single VMS frontend solution, a luxury retailer can not only minimize loss, but can also gather and analyze information for a deeper understanding of their operations and their customers. And, because analytics can be installed on the camera, this technology can be easily integrated into an existing system, future proofing for evolving needs.
To deliver these advantages, investing in durable and reliable cameras with effective analytics from a trusted security brand is crucial. Improving operational efficiency, loss prevention and security, achieved from one system, will also increase the ROI. At the same time, optimizing the customer experience by taking actions on analytical insights will also lead to increased profitability. Long-term partnership with a trusted security brand with high sustainability standards will also help a luxury retailer achieve their wider sustainability goals.
