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REVOLUTIONIZING BRICK AND MORTAR RETAIL WITH COMPUTER VISION
Naveen Joshi
Contributor
COGNITIVE WORLD
Contributor Group
Opinions expressed by Forbes Contributors are their own.
Aug 22, 2019,11:32pm EDT|
This article is more than 2 years old.
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The advent of online shopping has massively reshaped the retail industry.
However, this doesn’t mean that brick-and-mortar retail is dead. Many people
still prefer to visit retail stores over online shopping. These people want to
try out products such as clothes, furniture, and cosmetics before buying them.
And, at retail stores, customers do not have to wait for shipping or pay extra
shipping costs. Also, retail stores make shopping experiences more human
compared to online shopping, which is appreciated by certain customers. But,
retail stores still need to work on providing great customer service and
creating a personalized shopping experience.
Companies can transform their customer experience by using computer vision in
retail. Computer vision can allow retailers to speed up many business operations
like shelf management, payments, data collection, and compliance. Also, this
technology can use connected cameras to monitor retail stores, spot suspicious
behavior, and deter theft. This application can help retailers in improving
store security. Along with these applications, retailers can use such solutions
for in-store marketing and sales. Hence, retailers should consider using
computer vision for many business processes.
USING COMPUTER VISION IN RETAIL
Business leaders can use computer vision in retail in the following manner:
CONTEXTUAL INFORMATION
Customers may sometimes face difficulties in understanding how a product is
supposed to be used. In such situations, customers may avoid trying out new
products. Retailers can address this issue with a computer vision-based mobile
app. Computer vision-based mobile apps can recognize different products and
provide contextual information. For example, a customer can scan a
newly-launched shampoo. The app can provide information such as company history,
public reviews, and usage guides. Based on such data, customers may wish to try
out new products. Hence, these apps can encourage the purchase of different
products and increase sales in retail.
FACIAL RECOGNITION
Almost every retail store has security cameras now. Retailers can put these
cameras to good use with computer vision. These cameras can recognize the faces
of customers and view their purchases. Based on this data, computer vision can
identify regular customers and offer discounts for frequently purchased
products. Such discounts can help retailers in increasing brand loyalty. Also,
such solutions can offer discounts to occasional customers and convert them into
loyal customers. Hence, facial recognition techniques can help retailers in
improving brand loyalty and attracting new customers.
Facial recognition can allow retailers to provide a personalized shopping
experience for customers. The facial data collected by computer vision systems
can be linked to a customer’s purchase history. With this data, retailers can
understand the needs of every customer and restock products that are purchased
by different customers. Such data can also allow retailers in deciding which
products should have a discounted price and which type of deals would attract
more customers.
CUSTOMER DATA
Many companies use different methods to collect customer data. The process of
customer data collection can be made simpler with computer vision. Using facial
recognition, computer vision can identify different customer demographics and
their purchase patterns. Such systems can help retailers in understanding which
products are in high demand and which ones aren’t. Hence, retailers can make the
right decisions about their inventory.
Computer vision can also find out which products draw people’s eyes and which
ones don’t and create heat-maps for stores. With such heat-maps, retailers can
design their store layout to attract their customers’ attention. Such solutions
can allow retailers to position products in the most convenient places.
IN-STORE ADVERTISING
Some businesses use geofencing to offer discounts and send advertisements to
their customers’ smartphone. Such marketing techniques can become even more
effective with computer vision. Computer vision can use location data to find
out when customers have entered a store. Then, these systems can study every
customer’s shopping patterns to offer discount coupons. Such systems can also
suggest products that are similar to other purchased products. With these
solutions, retailers can implement effective marketing tactics and improve
customer experience.
AUTOMATED PAYMENTS
The Amazon Go store processes payments automatically. For this, the store uses
computer vision and sensors to view products that are being picked up by
customers. Then, the products are registered on a mobile app and payments are
processed automatically after the customers leave. Other retailers can use
similar solutions with computer vision. With such solutions, retailers get rid
of long queues at the checkout and improve customer experience. Also, automated
payments can allow retailers to allot their workforce to other core tasks.
SHELF MANAGEMENT
Computer vision can help retailers in core tasks such as shelf management.
Computer vision can turn images and videos to actionable data. With cameras,
retailers can receive critical information about their shelves in real-time.
These cameras can spot when the shelves are empty and send alerts to store
managers. With this, retailers can ensure that their shelves are never left
empty. Also, computer vision systems can help retailers in reducing the facings
of their competitors and increasing their own facings. Here, cameras can
recognize how many products of the same brand are placed beside each other.
Based on this data, retailers can decide how they want to place products of
different brands.
EMPLOYEE PERFORMANCE
Computer vision can help retailers in evaluating employee performance by
monitoring how they work. For this, computer vision can use emotion
identification techniques to understand customer satisfaction for every
employee's interaction. Based on such evaluation, retailers can find out which
employees deliver the best and the worst customer service. And, retailers can
offer personalized training to employees who are struggling with customer
service. As a result, retailers can enhance employee performance.
COMPLIANCE
Retailers spend countless hours to ensure that their stores comply with safety
and merchandising standards. This process can be simplified with the help of
computer vision. Computer vision can monitor retail stores and look for
compliance errors. After finding any errors, such systems can alert retail
employees and suggest ways to fix them. Hence, computer vision can help
retailers in regulatory compliance.
THEFT PREVENTION
Shoplifting and employee theft cost retailers almost $100 billion globally. To
deter such activities, retailers deploy cameras that are monitored by security
staff 24/7. However, monitoring live feeds in a busy store can be quite
difficult and shoplifters may take advantage of this.
Computer vision systems can monitor a store for suspicious activities with
cameras. After spotting anyone shoplifting, these systems can alert the security
staff. Also, these systems can be trained with video footage of previous thefts
and other suspicious activities. With such data, computer vision can identify
repeat offenders and potential risks. As a result, computer vision can improve
traditional security mechanisms.
Naveen Joshi
Naveen Joshi, columnist, is Founder and CEO of Allerin, which develops
engineering and technology solutions focused on optimal customer experiences.
Naveen works
... Read More
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