We all know change is inevitable and this is very clear in the evolution of the retail industry. Technology has added so many factors to consider, from marketing and social media to online shopping and retailers need to stay ahead of the changes.
So, what does this mean? Well, know your market, of course. Today the focus has been turned to Generation Z, the future consumers.
A quick rundown of the past. So, we are all familiar with the ‘Millennials’, known as Generation Y. Born between 1980 and 1994, the oldest Gen Y will turn 39 this year and the youngest 25 and soon will no longer be seen as the youth. They will now have to give way to the new youth generation Gen Z (born between 1995-2009).
Why is this important? Well, they will be the largest group of consumers around the world by 2030 and are already having a significant influence on household spend. Gen Z in SA represents around 26% of the population. They need to be recognised in the retail market as they will account for a dominant share of the spending in 2030.
Manufactured locally in South Africa by Secutel Technologies, SecuVue can give retailers the advantage of knowing their consumers on a daily basis. Giving you the intelligence to see areas in the retailer environment you might be falling short in, or even areas that are working, keeping you ahead of the game.
Here are some of the features SecuVue offers that pertain to a retail store and can inform management what is happening in the store. This intelligence can be used, not only for security purposes, but also to set marketing plans in motion and adjust business plans.
As soon as a person has passed a virtually definable area or line, they will automatically be counted. The counting is performed directionally (two directions per line). Counting lines can be formed and oriented individually, thus enabling not only the counting in passages, but also for other areas.
To make optimal use of available sales or exhibition areas, frequently used paths or areas as well as the popularity of certain products can be made visible through real-time visualisation and automatically generated statistics.
Facial collection and recognition
SecuVue offers facial recognition technology which includes a number of facial recognition and biometric features in a ready-to-deploy solution.
Gender, emotions and estimated age
SecuVue correctly identifies gender, emotions and estimated age. Using its facial recognition algorithm, SecuVue dramatically shortens the time-to-market for complex security and surveillance solutions.
Multiple IP camera channels
SecuVue can handle and manage several camera streams per server without compromising speed or accuracy. It is designed to manage exceptions, but also caters for continuous streaming for real-time surveillance.
You no longer need to invest in high-end cameras in order to do these video analytics. The SecuVue platform enables standard cameras to have access to these and other analytics.
Being innovative, looking at emerging trends and implementing them will now be more important than ever before. Understanding the consumer is going to go a long way in determining what can and can’t work in the market. So be prepared for the increasing purchasing power of Gen Z.
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