Every retailer must be tracking some measurable metrics to understand the performance of their business. In this highly competitive business environment, until a measurable KPI is set and strived to achieve. Facial recognition in retail helps in measuring these metrics more smoothly with accurate data.
The retail Industry in today’s world is expanding beyond brick-and-mortar store operations. In an attempt to acquire customers both online and offline, retail stores are indeed decking up their online presence as well. The evolution journey of retail started from brick-and-mortar stores to e-commerce.
Climate Change is an undeniable truth and sustainability has become a pressing concern for business houses. In these times, apart from the fashion industry, very few other industries flaunt their sustainability credentials forcefully.
The very first step of profit generation for retail stores starts with well-planned merchandise planning. The retailer’s primary goal is to sell merchandise and services to its end customers to gain profit and create value for stakeholders.
The year 2022 has been full of opportunities and challenges. The retail industry had to face supply chain concerns, the prediction of an upcoming recession, and a shrink in consumer budget, retailers had to achieve more with limited resources.
The modern-day retail stores, post-pandemic, have been facing new challenges in terms of bringing back customers to their stores.
Customer Satisfaction is the first and foremost thing every retail store is looking for. As long as customer satisfaction and services are maintained by the stores, every other KPI (Key Performance Indicator) falls in place. End of the day, a healthy KPI confirms a revenue-generating business.
Retail sector has been in a constant process of embracing new technologies to enhance customer experience. Implementing facial recognition technologies will open new avenues for this sector, creating real-time data analyzed to create better business decisions enhancing better customer support.
