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Mobile Shelf Monitor Shop organization for profit maximization.

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Presentation on theme: "Mobile Shelf Monitor Shop organization for profit maximization."— Presentation transcript:

1 Mobile Shelf Monitor Shop organization for profit maximization

2 The way to boost your sales Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit 2 | 9

3 The way to boost your sales Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit Mobile Shelf Monitor is a solution to cost effectively predict the performance of a customer behavior analysis system by optimizing product placement on one shelf Easily deployable Produces results in short term operation time Effectively answers feasibility questions Gives accurate measurements and performance indicators CUBEA analyzes the behavior of customers *, optimizes product placement and promotion in an entire shop Based on the installed video surveillance system Continuous operation time Able to recognize complex behavior patterns Gives shop–level measurement data Results increased performance indicators * Performs best in shops with shopping carts 3 | 9

4 Preconditions Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit A shop should meet certain preconditions in order that the product placement optimization should work: Asymmetry in usual movement directions in front of a shelf (e.g. 70%-30% ratio between left and right passing) Anonymized purchase data * from the transaction database: Overall number of purchases from the selected products Number of cases when the selected products were sold together * Privacy concerns: individual customers are not connected with the products or purchases At least 500 sells from each product during the monitoring time interval Practical requirements: Network access point for the IP cameras or Place for a computer behind the self Mobile Shelf Monitor can then evaluate whether real correlation between the products exist from the point of view of customer behavior 4 | 9

5 Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit Mobile Shelf Monitor Cameras are mounted at the end of the shelf on the ceiling looking at the shelf Estimates how many of the people purchasing the selected products were moving left-to-right and right-to-left Correlates information queried from the transaction database CUBEA Customer Behavior Analysis System Obtains video images from the video surveillance system Existing camera positions are calibrated Extra ceiling cameras may be needed to ensure full coverage Information about individual purchase transactions Optionally: shopping carts with ID plates * * Shopping carts can be tracked this way more easily and reliably than humans 5 | 9

6 Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit Order of items selected: 1. Detergent 2. Cleaner 3. Milk 4. Eggs 5. Wine 6 | 9

7 Geospatial data mining Based on the customers route and its correlation with the monitored products Data mining engine is Correlation Systems GDM6 http://www.correlation-systems.com/ http://www.correlation-systems.com/ Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Clear recommendations on how to reorganize product and promotion placement in order to maximize revenue System performance is objectively validated by measuring the effects of single product changes 7 | 9

8 4 weeks runtime: Selecting the observed subset of products based solely on statistical analysis of previous transactions Installing 6-10 cameras around the selected shelf / aisle Record a couple of days long initial video to check appropriateness to make the necessary adjustment in system configuration 2 weeks continuous customer monitoring Single changes in product placement Evaluation of affected sales and performance indicators First step: Piloting with Mobile Self Monitor Customer Monitoring Behavior Analysis Product Placement and Promotion Optimization Increased Sales Maximized Profit Behavior Analysis Product Placement and Promotion Optimization 8 | 9

9 The consortium behind Mobile Shelf Monitor NETAVIS Software Gmbh.NETAVIS Software Gmbh. (Austria) is a pioneer of server-based IP video surveillance. With thousands of successful installations around the world, many customers in retail, government, banking, transportation and industry rely on NETAVISs Observer product family. Correlation Systems Ltd.Correlation Systems Ltd. (Israel) is a research and development company. As the developer of the GDM6 Geospatial Datamining engine, Correlation Systems has specialized in providing customized solutions for the gathering and analyzing of geospatial information. SEARCH-LAB Ltd.SEARCH-LAB Ltd. (Hungary) develops IDENTRACE, an innovative intelligent video surveillance system. The applied video analytics can classify, identify and track moving objects, and based on this information the system can recognize unauthorized actions and suspicious activities automatically. 9 | 9


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