The history of facial recognition dates back to centuries within Chinese culture; the only distinguishing features were done by humans and not computers. Of course, they were not as accurate as of the unprecedented computer technology at present. The practice was termed facial reading, and the purpose was to determine people’s behaviors and natural inclinations based on specific facial features. For various reasons, enthusiasts still attend training through facial reading classes offered by gurus like the CMS World Enterprise facial reading classes.
Facial recognition system and how it works
A facial recognition system is a computerized technology that employs complex algorithms to efficiently match and isolate a person’s face from a database with a collection of different faces. The system works by identifying a myriad of unique features within a human face and grouping them by how they relate to identifying a specific individual successfully. It forms part of the larger biometric systems, including iris/retina recognition, fingerprint recognition, and voice recognition. The technology has been in use by governments and private entities worldwide for various applications, but its popularity is recently gaining traction in the vast business world and other sectors. Retailers have quickly adopted facial recognition for their potentially immense benefits and are expected to be a game-changer. Below are three ways facial recognition is set to impact the retail world.
Curb organized retail crime and shoplifting
Organized retail crime syndicates have been one of the most significant concerns for retailers. In the US, retail crime costs retailers an average of $30 billion yearly, coupled with injuries from the violence it sometimes involves. The retail crime syndicate is highly coordinated, and their sizes vary in size and specialty. Some have been proven to be connected to even larger international crime rings. Their goal is to steal specific merchandise from retailers for resale purposes.
On the other hand, shoplifting is another prevalent vice and has been estimated to cost retailers up to $18 billion yearly. It’s almost always impossible for retail security to note the perpetrators’ faces from the CCTV footage to identify them when they strike again at a later date.
Fortunately for retailers, facial recognition technology can come in handy as an effective tool to curb the vices. Known retail criminals will be entered into a database that will enable the security team to easily flag them when the facial recognition system detects their faces. This will also eradicate the violence associated with retail crime and keep the stores safe as the system employs a proactive approach, unlike the previous one of reacting to ongoing crimes.
An overall improvement in customer experience
A superior customer experience sets apart a retail store from its competitors and effectively builds customer loyalty/retention. Customers always stick to brands they find dependable; retailers with such trust from their customers will easily sustain their growth in the industry. The most crucial aspect with the most significant influence on customer experience is studying consumer behaviors to effectively expose the consumer to what they need and at the exact times to meet their expectations.
Facial recognition systems are best placed to provide personalized services to consumers by personalizing their retail experience. It can identify customers based on several factors depending on what a particular retailer is selling. For instance, it can group consumers based on their demographics and customize their products and services based on their personal preferences. Retailers can also use facial recognition systems to identify frequent shoppers and award them incentives and offers by sending them direct messages. What’s more, the system can also precisely predict and give the most relevant suggestions of products and services customers may need in the future.
Enable retail employees to provide tailored assistance to customers
The quality of customer service can make or break any business. There are many forms of customer service, and assisting customers in a retail store is one. Sometimes retail store employees may find a hard time understanding specific customer needs leading to customers not being satisfied. There is always a high chance for unsatisfied customers not to come back, and the downside is that they may not give their feedback. Facial recognition systems may help employees understand the needs of specific customers and guide them effectively to meet their needs within the store. A wide variety of information about customers can be extracted and personalized from the integration of facial recognition systems and other forms of retail solution systems that can help predict consumer behavior.