Capillary Technologies an Omnichannel engagement and commerce platform 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, to improve store efficiency, conversions and campaign effectiveness.
The AI embedded in VisitorMetrix is fed with over three 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 percent 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 six cities and signed up to roll it out across 70 percent of its stores in India.
"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," said Ganesh Lakshminarayanan, COO, Capillary Technologies.
"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," he added.
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