Sensormatic Solutions, the global retail solutions portfolio from Johnson Controls, is showcasing its latest innovations at EuroCIS 2024: the cloud-based SaaS application Shrink Analyzer and Store Guest Behaviors powered by Computer Vision Analytics (CVA).
Shrink Analyzer, the cloud-based SaaS application The cloud-based SaaS application Shrink Analyzer is a flexible application that helps retailers develop smarter and more effective shrink prevention programmes, reduce out-of-stocks and improve operations in their shops. Shrink Analyzer works independently of the inventory management solution in use. “Shrink Analyzer identifies the ‘what’, ‘where’ and ‘when’ of shrink events and enables users to take a proactive approach in the fight against organised retail crime (ORC), fraud and other causes of shrink,” said Craig Szklany, Vice President and Product General Manager of Loss Prevention and Liability at Sensormatic Solutions. “The tool ushers in a new era of shrink visibility. It utilises radio frequency identification (RFID) technology and exception-based outbound monitoring to give retailers unprecedented insight into their operations.” Shrink Analyzer serves as an advanced data engine for a connected LP ecosystem that captures, aggregates and analyses item-level inventory and data from Sensormatic RFID outlets to provide a clearer view of shrink events. The SaaS application’s innovative analytics capabilities help retailers combat the growing theft problem by equipping loss prevention teams with clear evidence packages to improve prosecution. Shrink Analyzer also shows retailers the true financial impact of theft, fraud and other shrinkage factors and helps them prioritise their actions. Thanks to Shrink Analyzer, they can focus on the strategies that have an immediate impact. The latest LP application from Sensormatic Solutions uses RFID, as well as cloud-based analytics and electronic product code (EPC) data.
This enables:
– Tagging of vulnerable items and ORC activities. With accurate analyses, Shrink Analyzer helps LP teams differentiate between ORC, mass theft and accidental theft. The application provides immediate insight into shrink irregularities and developing patterns or trends.
– The localisation of vulnerable areas and displays. Shrink Analyser aggregates data from all store systems to generate item-level reports – including video evidence of when and where RFID-tagged merchandise disappears. This data enables LP teams to recognise security gaps and act accordingly.
– Increased employee productivity in property protection. Shrink Analyzer is designed for retailer investigative teams to easily and quickly gather digital evidence of theft events for possible prosecution against ORC groups.
Store Guest Behaviors, the analytics solution
As part of Sensormatic Solutions’ computer vision capabilities, Store Guest Behaviors is an artificial intelligence (AI) solution that uses an adaptive learning model. It helps retailers to better understand their customers’ shopping behaviour and provide unique shopping experiences. Store Guest Behaviors provides detailed and comprehensive insights into customer behaviour. Retailers can use this to increase their sales through a well thought-out strategy and design of the shop environment. It multiplies the value of basic traffic analysis programmes by drawing on people counting, shopper journey and behavioural data – facilitating operational excellence and ultimately improving conversion rates.
The solution understands and adopts:
– Customers’ paths to purchase. Store Guest Behaviors uses various data streams such as dwell time at zone level or movement analyses, which can be used to measure the time customers spend looking at displays or goods. The solution provides corresponding heatmaps that show customers’ paths to purchase and enable retailers to develop more effective layouts and floor plans, inventory management practices and labour models.
– The measurement of visitor behaviour. Store Guest Behaviors can help retailers better understand their customers and what they want. With customer sentiment, demographic data and other relevant data streams, retailers have the necessary background to conduct simple but comprehensive A/B testing and quantify the value of their decisions regarding merchandise mix, promotional display placement, planogram designs and assortment strategies.
Store Guest Behaviors powered by CVA also enables retailers with compatible tech stacks to leverage existing video infrastructure with an edge appliance that taps into the digital ecosystem. Like most of Sensormatic Solutions’ computer vision applications, this new solution is based on a collaboration with Intel and Lenovo. It will be continuously optimised for retail with Sensormatic Solutions’ suite of proprietary, connected and outcome-based solutions.
