NEUHAUSEN, SWITZERLAND - Tyco Retail Solutions, a leading provider of retail performance and security solutions, today announced the availability of advanced in-store analytics to deliver added value to its global retail customer base of more than 185,000 stores.
Tyco has integrated its Traffic Intelligence solution with RetailNext, an innovator in Big Data solutions enabling retailers to monitor, analyze, and quickly act upon shopper behavior within the store environment. This powerful combination, which leverages Tyco's broad multi-sensor portfolio of Traffic devices and RetailNext's advanced in-store analytics platform, enables retailers to capture and interpret key metrics to optimize their store operations and drive sales.
In e-commerce retail it is standard practice to analyze how shoppers behave online, where they go, what they view, what they place in their basket, and ultimately what they buy. Traditional stores can now have this level of visibility as well. Tyco's appliance-based system, which can potentially leverage retailers' existing video infrastructure, collects and correlates real-time data to help brick-and-mortar retailers identify actionable opportunities to refine their advertising, merchandising, and promotional initiatives to improve overall profitability by focusing on metrics beyond the front door.
The innovative analytics offering enables Tyco to efficiently support large stores with many monitoring points, where an appliance-based solution is more cost effective than video analytics smart devices. To satisfy retailers' diverse needs, Tyco extends traffic analysis beyond the front door with four new packaged traffic applications focused on advanced in-store traffic intelligence:
- Interior Counting to analyze conversion rates, optimize traffic-to-associate ratios and measure in-store marketing effectiveness
- Path-to-Purchase kinetic mapping to improve store layouts and increase profit-per-square-foot
- Gender Demographic Breakdown of Traffic to customize store displays and product mixes
- Dwell Analysis to optimize promotional display placement, planogram effectiveness and product assortment
"In today's competitive landscape, retailers need in-store analytics to drive retail performance improvements," said Nancy Chisholm, president, Tyco Retail Solutions. "Our continued focus on innovation enables us to deliver advanced technology solutions that help our retail customers gain increased insights and real-time business intelligence to improve operations, merchandising, and marketing effectiveness."
