Biggest Challenge in Retail Installations is Space: Axis
Axis Communications is active in many verticals, such as retail, government, transportation, hospitality and smart cities.
Sudhindra Holla, Country Manager, Axis Communications, India & SAARC, talks about the surveillance solutions available for retailers, how video analytics can optimize retail performance, etc. Excerpts:
BW: Give us an overview of Axis Communications and Cognimatics.
Sudhindra Holla: Axis Communications is the market leader and pioneers in the field of IP video surveillance. We are a company that provides end-to-end solutions for all your security requirements. Our aim is to create high quality CCTV cameras and software that complement our product offerings to maximize security and efficiency.
Axis is active in many verticals, such as retail, government, transportation, hospitality and smart cities. Our solutions are designed keeping in mind, the end user applications. Last year, Axis completed the acquisition of Cognimatics- a leading company of store optimization solutions for the retail sector. The acquisition has made it possible for us to integrate the Cognimatics’ software on our solutions to provide retailers with real time analytical data.
It can keep a check on foot traffic, queue management, improve merchandising effectiveness and occupancy estimation- which can be utilized to provide customers a better store experience and also reduce human error. The addition of Cognimatics’ knowledge and technology strengthens Axis’ solution offering in the fast-growing retail market segment.
BW: What kind of surveillance solutions are available to retailers today?
Sudhindra Holla: When it comes to retail, our customers can benefit from the following solutions:
• Loss prevention: Combat inventory shrinkage, point-of-sale fraud, shoplifting and theft
• Store optimization: Convert more in-store sales opportunities and enhance customer experience by improving store layouts, staff planning, and targeted advertising
• Safety and security: Maintain a safe, secure environment for customers and staff.
The network video system easily integrates with the store’s Point of Sales (POS) system, enabling real-time monitoring and historic POS transactions, POS exception statistics (from single or multiple stores), make it easy to detect any suspect patterns and behaviours.
Armed with this information, one can develop their staff training tools and ensure they are always one step ahead in preventing internal losses. Retailers can also get a clear picture and a clear record – of exceptions, such as unauthorized discounts, manually entered values, incorrect processing of returns, and cash refund and coupon errors.
BW: How can video analytics optimize retail performance?
Sudhindra Holla: Optimizing a high-activity zone such as a retail store is not an easy task. We acquired Cognimatics so that we can integrate their software on our products for added value.
Cognimatics offers a suite of video analytics applications that can be used to provide retailers with insightful behavioral intelligence that helps optimize their operations, improve customer experience, and enhance security and safety. With our high-end cameras and the analytics software, it is now possible to create real-time data to optimize the retail space tremendously.
BW: What are the challenges faced by surveillance providers and system integrators in retail installations?
Sudhindra Holla: The retail industry is going through a sea of change. Many Indian companies are going online- and or partnering with e-commerce sites to sell their products. India is a $1-trillion retail market and with the Government relaxing the rules on foreign direct investment (FDI), it has encouraged western retailers to open their stores in India. This opens up a plethora of opportunities for the security providers as well.
The biggest challenge in retail installations is the space itself. Each store is different from another, hence we cannot provide the same solutions to the same store. Each store has to be monitored during the opening hours and closing time to avoid theft or pilferage of stock.
It is always recommended to use cameras with a good range and resolution with features like facial recognition, intruder notifications and heat detection to reduce investigation time. The point of sale also has to be guarded so that unauthorized individuals do not touch the cash counter. For this purpose, it is important to have an eye on the counter without any blindspots.
But, with the technology available today, it is easy to overcome such challenges and create solutions that can be customized for the retailers’ needs.
BW: What are the new-age solutions available in the Indian market for retailers?
Sudhindra Holla: The most advanced solutions available to our customers is video analytics. It is possible to monitor the space while also keeping a check on various parameters simultaneously, such as, foot traffic count, most visited zones, high-active period, etc.
The cameras available today are also capable of detecting intruders and monitoring the PoS device. Thermal cameras can detect the heat given out by objects and can detect human presence through heat mapping. Discreet cameras are also available for retailers who do not want the presence of CCTVs to change the décor of their store.
