What makes Ifovea’s service so unique is that it offers the usage of video analytics. The use of video analytics in retail stores have been growing exponentially, mainly for the purpose of collecting business insights to improve profits. However, the original purpose of video analytics was to perform security-related functions and to strengthen protections. The holiday season is when retail theft spikes so it’s important to take the necessary steps to protect your store. Here are some ways that Ifovea’s video analytics can help prevent holiday retail theft.
Face Recognition
Face recognition is a video analytic that automatically detects the face of every visitor in real-time and matches the face up to a user-created database. Ifovea’s face recognition can be helpful during the holiday season to instantly detect repeat shoplifters and members of organized retail theft rings. Often times, members of these crime rings will commit thefts at various stores in order to get highly-sought after items to sell for a profit online. If businesses are able to make a database of these members, they will be instantly alerted when they come into the store so that they can take immediate action to prevent theft. Besides that, it also can be used to keep unauthorized personnel out of certain areas. For example, when placed in inventory rooms or warehouses, the system will be able to detect unregistered faces to ensure that only staff members are accessing inventory and stock items.
Object Detection & Tracking
The next video analytic on Ifovea is object detection & tracking. This is an important analytic that is able to recognize the difference between objects and track their movement. Ifovea is able to recognize thousands of objects such as people, vehicles, animals, luggage, etc. On Ifovea, users are able to set up notifications to be instantly alerted when someone is detected around the store after hours. However, Ifovea eliminates false alarms by determining if the detected movement came from a person or an animal or foliage.
People Counting
Even though the people counting feature may not be actively scanning the crowds for thieves, users can analyze the collected data to learn more about theft within their retail store. On Ifovea, users can keep track of how many people visit the store each day. They can also mark off specific areas to count the number of people. Store managers can use this information to calculate the purchase conversion rates. If their conversions are too low, it may indicate that there’s more shoplifting occurring than previously believed. The retail store can then take steps to be more vigilant and aware of shoplifters.
Heat Maps
Ifovea’s Heat Maps is a feature that will show which areas of the store receive the most activity using different colors. Even though it doesn’t seem like this feature will be useful to prevent holiday retail theft, it can help store managers determine which areas are more prone to overcrowding. As mentioned in the last article, overcrowding causes more instances of theft. This is due to thieves being concealed by busy crowds or employees being too distracted to be aware of shoplifting. By knowing where overcrowding tends to occur, store managers can know where they should be more vigilant and take more steps to prevent theft like position more cameras there or direct staff to assist people in those areas to keep a watchful eye.
Contact Ifovea for Your Holiday Retail Solution
For an important time like the holiday season, Ifovea is the best choice for preventing retail theft. However, Ifovea is an investment that will last even beyond the holiday season and be able to prevent retail theft all year round. In the long run, using Ifovea can help you reduce the costs spent on hiring additional security guards and expensive alarm systems. Additionally, Ifovea can even grow your profits by enabling you to collect important business insights. If you’re needing to protect your store from holiday retail theft, contact us and ask about getting set up with a free trial!
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