What Xovis Loved About EuroCIS 2024
Our retail pros left Messe Düsseldorf excited about the expanding role of real-time objective data in a quickly changing industry. Recent years have seen a maturing approach to behavior analytics, and the industry’s move from simple entry-exit counts to more complex and insightful use cases appears to be gaining momentum.
“It was excellent to see so many people and so much energy at this year’s EuroCIS. The market’s perspective on using in-store behavior analytics is much more mature, and we had great interactions with retailers that really know what they need in terms of accuracy and reliability to achieve their goals,” Anne Wyder, Xovis’ VP of Channel Sales, said.
Xovis welcomed almost 1,500 visitors to its 2024 booth! Most of those searching for robust data capture technology supporting advanced in-store analytics projects. We loved that, but there were also many other things that made us happy in Germany.
Theft Prevention Balancing Acts
It’s almost impossible to visit a retail event these days without talking about efforts to limit shrinkage. That’s no surprise, considering crime costs the industry billions and has become a significant liability for employee wellbeing.
Different regions are facing different challenges related to criminal behavior, but the global industry is not waiting for a silver bullet that may never come. Instead, they are pursuing multiple approaches to reducing losses from theft.
Those efforts must be balanced with customer expectations about in-store friction. And retailers are experimenting with different degrees of friction, searching for a system that strikes a healthy balance between experience and security concerns.
Real-time data is at the heart of those discussions, as any automated solution designed to improve security while limiting friction requires accurate data with nominal lag times. A common market-tested example of this solution is sensors deployed at self-checkout areas.
“Self-checkout is designed to manage staffing levels and reduce friction associated with queues. It’s also a zone with a high potential for shrinkage. Strategies for improving the security profile of self-scanning areas were a hot topic at this year’s EuroCIS,” Pascal von Burg, Product Manager Retail at Xovis, said.
Xovis is known for delivering accurate, objective data retailers can use to automate monitoring of check-out processes. In Dusseldorf, our pros loved demonstrating how analytics solutions using the company high-precision sensors could help retailers address shrinkage.
Going Deeper with Deep Learning
AI is having a moment. Xovis has been focused on developing smarter and more capable embedded processing devices for over a decade and remains a leader in offering retailers a range of AI-powered attributes detection.
Using those attributes to get a complete picture of visitors before a transaction is concluded, and in observance of privacy rules, is just one way that AI is helping retailers improve in-store operations. The insights the attributes can deliver is also motivating retailers to move analytics solutions from the door to deeper into the store.
“Brick-and-mortars are comfortable with door counts, and, when accurate, those are important. But more and more shops, especially those in the US, want to better understand what happens in the store. Measuring things like demographics, dwell time, and queue abandonment—all possible with Xovis sensors—can be an effective way to improve performance, and that really came through in Germany,” Matthew Gialdo, VP North American sales, commented.
Tags:| retail | retail analytics | behavior insights | theft prevention | data capture | tradeshow |
