Image recognition technology has converted the world into a shop window. According to new market research, this is most likely to have the highest impact on retail sales. Advance technologies like store based technologies, interactive television, smart devices, and augmented reality along with image recognition will play a significant role in reshaping the retail environment. These technological innovations are riding the crest of both online and mobile shopping. And the latest phase of these unique technologies will hit the retail sector like never before.
It is very important to understand the changes going on in the retail industry to determine the impact of these innovations. In fact, many of the leading online and mobile shopping retailers are now mapping new tech trends to explore and understand their impact in the retail and m-commerce industry. Almost all the studies revealed that image recognition is one of the standalone technologies that have the potential to have the highest impact on retail sales.
Image recognition technology allows mobile apps, software and systems to identify customers based on their facial features. Additionally, it can recognize products or objects based on their attributes. One of the biggest advantages of this technology is that it makes easier for customers to experience and interact with products.
This technology is geared towards providing a more personal experience to the buyers. It allows the systems and software to react to an individual on a personal level. Buyers can simply sit down in front of a computer device to enjoy a fully personalized online or mobile shopping experience. The technology empowers devices and websites to become intuitive, allowing them to react in a unique and engaging way. Better still, image recognition technology has the potential to improve customer safety by making online transactions more secure. As a result, this technology is becoming invaluable when it comes to the security perspective of online and mobile shopping.
From product perspective, image recognition technology will help customers with visual product searches by simply pointing their device at the product image. Consumers can find and scan their chosen products easily and effortlessly. This will further blur the lines between online/ mobile shopping and high street shopping. Thus, it is making the whole world a shop window for buyers. Static product images on catalogs, billboards, newspapers and magazines can come to life and provide a direct link to the retailer location or online site. And all these can be achieved by using the camera of your smartphone or tablet.
Considering the various advantages of image recognition technology, many of the brands and online/ m-commerce retailers are using this emerging technology to make shopping more interactive. In fact, brands and retailers are creating more number of augmented reality apps using this technology. Consumers need to simply take a picture of the product and the app will match the photo referring to their database and provide all required information to help consumers make their purchase decision.
Emerging technologies like image recognition can create enormous opportunities for retailers; however, their real advantages are yet to be fully realized.