Think about your store; your restaurant; your retail space.
Now, imagine everything you see becoming data.That's exactly what our AI video technology does: it identifies each and every human activity, and subsequently turns it into data.
Never before has this data on human behavior & patterns been available, and it's changing how some of the world's leading brands are capturing and improving their customer experience.
With our technology, retail and restaurants now have a highly effective solution for unlocking and measuring true guest experiences, capturing behavioral KPIs that have been notoriously hard to track.
Trusted by the world's largest brands.
Get in touch and let's explore how Lifestream's CX video understanding can help your business.
The Ask
Our client developed a new restaurant concept designed to increase efficiency and reduce costs.
But how did it work in practice?
Specifically:
- What impact did it have on revenue?
- Did customers prefer the new concept?
- What opportunities were there to enhance profitability?
Pre, Post & Ongoing Tracking
2 low profile cameras installed
Baseline behavioral data captured 2 weeks prior to store refurbishment.
Initial impact data captured 2 weeks after re-opening.
1,400 customer journeys tracked.
A continual tracking program initiated to track optimizations, adaptations and long term performance.
Tangible ROI
Robust behavioral data enabled an accurate cost-benefit analysis by quantifying:
- A 23% increase to the customer journey duration
- A $506,000 sales deficit compared to the previous model
- Continuous identification of optimization opportunities
Navigating Pain Points with Video AI
Our QSR client aimed to understand how people move about their space, and those pathways through the storefront. They were curious to see how much much time was spent in the ordering process, and how how that converts to revenue.
Here's what we found: data from our video analytics showed that
- Up to 16% of restaurant visitors fail to make a single purchase.
- More than 50% of customer confusion with new technology (like self serve kiosks) require crew interaction.
This results in annual sales gaps as high as $500,000 - just in a single location.
And, despite all their best efforts to make the customer experience as pleasing, pain-free and profitable as possible - the current store made navigation frustrating and costly.
