How Can Car Dealers Benefit from Retail Video Analytics?

When you take into account the value of a dealership’s goods as well as the volume of foot traffic the business experiences, you have the ideal environment for installing retail video analytics surveillance. The price of an automobile may range anywhere from a few thousand to one hundred thousand dollars, depending on the brand, the year it was manufactured, the model it is, and the amenities it has. The majority of the goods are stored in the parking lots, which puts millions of dollars worth of inventory vulnerable to theft, criminal activity, and inclement weather for extended periods.

Here’s How Retail Video Analytics Help Car Dealers

The following section covers how tools like retail video analytics can help car dealers flourish their business.

1. Defending Against Larceny

Money is the most important factor for dealerships, just as it is for other types of retail establishments. Inventory and prospective profit must be protected to maximize potential earnings. Protecting one’s inventory is of the utmost significance. Installing security video surveillance cameras on the lots may help deter criminal activity and deter auto thieves from stealing vehicles. These cameras can also assist in identifying any questionable characters that may be wandering the lots.

2. Monitoring of Site Visitors and Customers

The behavior of customers and the architecture of retail spaces may give very useful information. If you know what kind of automobiles sell the most and where the majority of your store’s foot traffic originates, you can better prepare the sales representatives that work for you. Keeping tabs on the routines of your clients and comparing the automobiles they browse to the models they end up buying may provide your sales personnel, as well as your inventory and marketing departments, with useful information. You’ll be able to keep count of your clients and maintain tabs on them as they move about the property thanks to the retail video analytics tool.

3. Protection of the Customers, the Staff, and the Building

Your security personnel will benefit tremendously from the use of this tool since it can keep them informed about any potential threats that may occur during the day. The most recent technology enables your security employees to monitor the location directly from their tablet computers or mobile devices while they are on their rounds. They may even get warnings immediately on their mobile devices to facilitate a speedy reaction to the circumstances.

4. Easy Integration

It is highly crucial to combine previous technologies with the ones that are in use now. The flexibility to utilize existing wire as well as older cameras in conjunction with more modern HD cameras is essential. This enables you to save expenditures while yet maintaining the capability to switch to cameras with a greater resolution. The most recent technology available on the market enables you to utilize cabling and even cameras that are already installed while simultaneously integrating newly installed HD cameras into the same system. The most recent digital video recorders may even be integrated with pre-existing security alarm systems or access control systems.

Things to Keep in Mind While Installing Retail Video Analytics 

Maintain camera installations for surveillance in high-traffic public places such as parking lots, showrooms, and lobbies. Maintain the cameras in the locations where there is an expectation that staff and consumers will be watched. It is inappropriate to install cameras in spaces like break rooms or restrooms, where workers or consumers have a reasonable expectation of privacy. The security cameras that are most at risk of being damaged by the elements are those that are placed outdoors to monitor parking lots. Damage to the security cameras will result in video disruptions, which increases the risk of the goods being stolen or damaged. To reduce the risk of camera damage as much as possible, be sure to install cameras that are resistant to vandalism and have a high rating.

A highly efficient measure for ensuring the safety of a car dealership is to install video monitoring. However, we do recommend that it not be used in the capacity of a security system only. A preexisting security system, such as vehicle alarms and security guards, should have a retail video analytics tool as an additional layer of protection. Other than security, the retail video analytics tool will give you enough data about prospects and their interest in the car’s make and model.

So, if you’re a car dealer and want to increase your conversion rate while also protecting your properties, a retail video analytics tool is a must-have. Get yours from Link Retail now.