Every retailer looks forward to the holiday and peak seasons since these are the perfect opportunities to connect to a diverse set of customers and keep the sales transactions coming. Whether it’s the Thanksgiving holidays or the Christmas season, holidays keep consumers on overdrive and self-motivated, thus independent and established retailers can keep the transactions coming with minimal effort.
While the peak season delivers the sales and can keep the POS terminals ringing, it also comes at a price. Holidays and peak seasons are stressful for retailers- if retailers are not prepared, then the expected deluge of sales and ringing of cash registers can turn into a retail nightmare. Or worse, it can lead into a rise in shrinkage due to the steady stream of customers. These are real challenges for retailers during holidays and peak seasons, so it pays to be ready for these times.
Use cameras to monitor customer and employee transactions
One critical step that every retailer can do when preparing for the holiday rush is to install appropriate closed circuit television or CCTV cameras. Cameras that are strategically placed in and around the retail store serve as the eyes of the retailers to monitor what’s happening in real time. These serve as the extra eyes of retailers and security guards who can’t physically monitor and check the area when the retail store is bursting at the seams with shoppers. Remember, shoplifters become bold and adventurous during these times since retail stores are busy, thus retailers have many things in their hands in mind. They become aggressive in removing goods, thus increasing the rate of shrinkage. To prevent this from happening, you can install cameras in all parts of the store, in the display areas and even in front of the fitting rooms.
A busy retail environment is also a ripe opportunity for employees to snap an item or two. Employee theft is serious, thus cameras should also focus at the POS terminals, the employee exit and entrance and the stock rooms.
Video analytics for stores
A constant stream of customers during peak season is also a great time to tap into CCTV cameras for video analytics. Video analytics for retail environment take customer recording to another level. Instead of simply capturing the customer movements and the transactions, the information is merged with other retail store data to generate reports that can be helpful for management decisions. Modern cameras, including ‘gaze trackers’ can be installed in holes which can detect what items you are looking for and for how many minutes. The insights that a retailer can generate from these tools can help draft management decisions.
Holidays and peak season for retail stores may be stressful and difficult to manage, but with the appropriate tools and strategies, you can leverage these for your business. You can use tools like CCTV cameras to manage the retail store during holidays and peak season.