The retail environment has undergone a reshaping, thanks to the advent of smart and technologies like interactive television, augmented reality, store based technologies, and image recognition. These improvements are known as ‘third wave’ as they are riding the peak of mobile and online shopping. Actually, these disruptive technologies are set to generate revolution in the retail sector. Amongst all these new tech retail price optimization styles, image recognition offers been mapped out because the emerging technology which has the potential to generate the highest impact on sales.
With image recognition technology cellular apps, systems and various other software can identify customers from their facial features. Actually, this technology can also be used to identify different objects based on their features. Consequently the entire globe has become a shop home window for the customers where they are able to find direct link from the images of products published on a billboard or in mags taking them to the online site or physical area of a retailer. Customers might have more personal encounter with this technology as it allows systems and software program to respond to an individual. This allows the buyers to find in addition to scan their desired products conveniently and quickly, which in turn, help bridge the gap between online stores and physical stores. The technology allows the gadgets and/ or website to be intuitive and they react within an engaging way with the consumers. In fact, image recognition technology has the potential to become an authentic driving power for the retail environment.
In conditions of product interaction, picture reorganization enables buyers to make visual searches for this products they go for at their gadgets. They are able to enjoy a fully customized mobile or on-line retail experience while sitting in front of a device. This image recognition technology actually helps it be easier for mobile and online customers to experience and connect to products. And all these can be carried out simply by scanning the image on their smartphone or tablet. Numerous brands are already using this technology for their online and mobile customers to make product searching even more interactive and faster. Generally, most of such apps allow customers to snap an image of the product and search the e-commerce/ m-commerce listing and when the photo matches a similar product, the result is produced to the consumers.
With such technologies merchants now have enormous opportunities; however, the benefits of these technology are however to be realized completely. Based on the recent market styles the experts have opined that around 12% consumers are likely to be using picture reorganization technology by 2014. The retail sales as well will be substantial up, because of these technologies. Image acknowledgement technology also makes on-line transactions safer by enhancing the security perspective of on-line or mobile payme.