BS4 Retail

Retail market and face recognition

2021 March 22

With a retail market and increasingly demanding customers looking for the best shopping experiences, it is essential to understand consumer motivations and be able to anticipate needs quickly before consumers reach the stores. To generate value and define consumer preferences, resellers must increasingly increase their investments in technologies for monitoring retail and customer journeys in stores (Heatmap), for the collection of data through recognition technology. facial, to identify consumer profiles and brand loyalty, and to analyze collected data.

A survey conducted by British consultancy Juniper Research points out that by 2022, annual global retail investment in Artificial Intelligence (AI) is projected to rise from $ 2 billion in 2018 to $ 7.3 billion. One of the applications of AI development focuses on facial recognition for retail data analysis for the purpose of generating customer information.

Following this trend, facial recognition for retail monitoring can help retailers obtain accurate data on the customer journey and on the most varied consumer profiles that pass through the store, all in real time and without invading privacy. Customer facial metrics can be used to diagnose, via relevant KPIs, and generate analytical forecasts to guide business decisions, such as store selection, advertising investments, direct marketing and customer relationships