People counting system for retail analytics using edge AI

TL;DR

This paper presents a cost-effective edge AI system for retail stores that counts visitors and calculates conversion rates to optimize store operations with minimal hardware.

Contribution

It introduces a novel edge AI-based people counting system specifically designed for retail analytics, emphasizing low hardware requirements and real-time insights.

Findings

Accurately counts visitors using edge AI

Calculates retail conversion rates in real-time

Reduces hardware costs for retail analytics

Abstract

Developments in IoT applications are playing an important role in our day-to-day life, starting from business predictions to self driving cars. One of the area, most influenced by the field of AI and IoT is retail analytics. In Retail Analytics, Conversion Rates - a metric which is most often used by retail stores to measure how many people have visited the store and how many purchases has happened. This retail conversion rate assess the marketing operations, increasing stock, store outlet and running promotions ..etc. Our project intends to build a cost-effective people counting system with AI at Edge, where it calculates Conversion rates using total number of people counted by the system and number of transactions for the day, which helps in providing analytical insights for retail store optimization with a very minimum hardware requirements.