What impact will Computer Vision have on the retail customer experience?

In the last five years, five months, or even five weeks, the shopping experience has undoubtedly altered for both businesses and consumers. In terms of technology, the industry is rapidly evolving and shows no indications of slowing down. We've seen robots racing through grocery shops counting cycles, augmented reality mirrors in dressing rooms, and even autonomous self-checkout experiences like Amazon Go in recent years.

However, many stores are currently closed due to the current economic situation. As retailers prepare for the industry's recovery and the country reopens, retail executives should consider ways to entice customers to shop in-store.

As we approach a "new normal," merchants must establish an environment in which customers feel comfortable returning to stores. To do so, several businesses are investing in AI Consulting and services that track social distance, store occupancy, and even mask wear. In my perspective, the most current and successful method for retailers to employ technology to alter the in-store experience is to use Computer vision.

Here are a few additional ways artificial intelligence can aid in the return to in-store purchasing.

The Self-Checkout Era

Self-checkout used to have barcode scanning and weight-sensor technology, allowing shoppers to weigh their product. Self-checkout, on the other hand, created several opportunities for shrink, and retailers were first unable to regulate the issue. Retailers are now utilising AI-powered video surveillance equipment to monitor exactly what clients are buying, as well as the quantity and weight, depending on the item.

AI allows retailers to take preventive measures against in-store shrink in a variety of ways, in addition to providing a more seamless checkout experience for customers.

• Cutting-edge video technology can identify shoplifters, as well as the specific things stolen and their worth.

• To help optimise shop operations, retailers can utilise deep learning models, image processing, edge hardware, and AI-powered cameras to identify targeted behaviour.

• Using data, store management can detect shoplifters based on previous in-store activity and flag them for future visits.

Increasing Customer Participation

Simply based on the shopper's behaviour, video monitoring can enhance shopper engagement from the moment they step in the door.

Retailers may detect "red" and "green" shoppers using AI video monitoring technologies. "Red" consumers have a history of theft, whereas "green" shoppers are individuals who have good intentions.

It will be vital for merchants to ensure that their green shoppers have a great shopping experience as stores reopen. It's critical that in-store associates engage with these customers on the floor, assisting them in finding what they need and providing the best possible service.

Loyalty Programs Will Keep Them Coming

Retailers may already use loyalty programmes to assess what their consumers have bought, offer data-driven promotions, and tailor the whole experience. By integrating past purchase patterns with real-time interactions in the shop to delight customers with discounts, the latest video technology driven by AI has the potential to change loyalty programmes even further.

Loyalty programmes may also encourage customers to make more spontaneous purchases. Consider this scenario: You enter a store and receive an email offering 20% off an item in one department. Even if it wasn't on your to-do list for the day, a discount is always appealing. Customers are suddenly spending more time in the store looking for items they can buy with their promotion and spending more money than they planned.There is a sense that the shopping experience is more personal when they receive incentives tailored just for them. This establishes a long-term relationship between the retailer and the customer.

More than ever, the customer experience is critical.

In the end, merchants have always prioritised the customer experience. Customer experience is more crucial than ever when customers warily return to their favourite retailers. Investing in technology that enhances a favourable experience might result in returning consumers and creating a win-win situation.

Retailers can provide a more engaging and positive customer experience by leveraging AI and video surveillance technology, whether it means not having to wait in line, getting help finding what they need from in-store associates, or data-driven promotions and discounts to keep them coming back for more. For the time being, merchants may use these methods to assist give the greatest possible customer experience while also remaining proactive and prepared for what lies ahead in the world of retail and technology.

Applications of Computer Vision in the Retail Environment

Traditionally, retailers have employed video surveillance to investigate and, when feasible, prevent stealing and shrinkage. Video analytics technology simplifies these applications and opens up new possibilities. Video analysis may provide a wealth of actionable insights and detailed business analytics, allowing for data-driven safety, security, and operational decision-making. Retailers are using video analytics tools to establish proactive strategies to improve the shopping experience, increase retention, and increase sales.

Retailers may use video analytics to gain access to a variety of customer trend data that can be used to improve operational efficiency and, ultimately, the customer experience. For example, utilising video analytics technology, a retailer can evaluate the efficiency of a store's layout and product placement by measuring and comprehending customer traffic trends, such as where they tend to dwell, which products and displays they interact with, and how they navigate a store. This can assist shops in identifying popular items and places, as well as possible issue areas.

Finally, data-driven heatmaps and trend reports assist retailers in making educated and intelligent product placement decisions, marketers with product popularity insights, and store designers in creating an optimum shopping environment.

Video analysis makes it much easier to grasp situations in the aftermath of a crime, in addition to better explaining in-store activities.

AI Video analytics provide retail firms with a new level of intelligence that they can't afford to neglect, whether for safety and security or the evolving operational efficiency and customer experience use cases. To provide best-in-class services, our skilled teams of Video Analytics Experts stay on top of the latest developments. If you want to learn more about how to incorporate these trends into your Retail Video Analytics project, contact our experts immediately.