The retail environment has undergone a reshaping, because of the advent of smart and technologies like interactive television, augmented reality, store based technologies, and image recognition. These improvements are referred to as ‘third wave’ as they are riding the peak of mobile and online shopping. Actually, these disruptive technology are set to create revolution in the retail sector. Amongst each one of these new tech price intelligence tendencies, image recognition has been mapped out because the emerging technology which has the potential to generate the highest impact on sales.
With image reputation technology cellular apps, systems and other software can identify customers from their facial features. Actually, this technology may also be used to recognize different objects based on their features. As a result the entire globe has turned into a shop window for the customers where they can find direct hyperlink from the images of products imprinted on a billboard or in journals acquiring them to the online site or physical area of a retailer. Consumers 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 and also scan their desired products very easily and quickly, which in turn, help to bridge the gap between online stores and physical stores. The technology enables the products and/ or website to be intuitive and they react in an engaging way with the consumers. Actually, image recognition technology gets the potential to be an authentic driving power for the retail environment.
In conditions of product interaction, image reorganization enables buyers to create visual searches for the particular products they go for at their gadgets. They can enjoy a fully individualized mobile or on-line retail experience while sitting in front of a device. This picture recognition technology actually helps it be easier for mobile and online buyers to experience and interact with products. And each one of these can be completed by just scanning the image on their smartphone or tablet. A number of brands are already by using this technology for their online and mobile customers to make product searching more interactive and faster. Generally, most of such applications allow buyers to snap an image of the product and search the e-commerce/ m-commerce listing so when the photo fits a similar product, the effect is produced to the consumers.
With such technologies suppliers will have enormous opportunities; nevertheless, the benefits of these systems are yet to be realized totally. In line with the recent market tendencies the experts possess opined that around 12% consumers are expected to be using picture reorganization technology by 2014. The retail sales as well will be considerable up, because of these technologies. Image recognition technology also makes on-line transactions safer by improving the security perspective of online or mobile payme.