The modern-day retail stores, post-pandemic, have been facing new challenges in terms of bringing back customers to their stores. In this new era of competition and technological advancements, every store is vying for customer satisfaction and operational excellence to garner profits. Implementing technological and digital solutions like facial recognition technology for retail stores could be one of the solutions.
In today’s competitive world, it is important, to get customer insights in more detail to serve customers with personalized offers. But in order to gain fruitful customer insight, it is also important to receive or process data in real-time to plan or strategize business operations accordingly as retail business scenarios change hourly.
The situation a store faces during morning hours will not be quite similar to one during evenings. Consumer buying behavior changes drastically while shopping during the off-season vis-a-vis shopping during festivals. In order to prepare for these unprecedented scenarios, store management should be decked up with enough data to handle the situation. Merely counting footfalls would not suffice in these cases. Rather, the demographics of customers, the time spent within the store before purchase or no purchase, and others help a retail manager to focus on store layouts, offers displayed, and feedback on marketing campaigns running.
As in present days, the battle of retail is with brick-and-mortar stores versus e-commerce, gaining customer analytics is quite easier for later. Through the implementation of tracking codes, an e-commerce website can easily track which customer spent how much time on which page, and has selected products in carts but has not ordered. Which offers are being received well by customers and which are not?
The weapon in this regard, available with brick & mortar stores is CCTV cameras. Though CCTV cameras in the retail sector is only limited to recording videos that could only be played back to trace any incident. But expecting any fruitful data out of it is never possible.
Learn how to impress your customer by implementing facial recognition technology in retail stores.
But by implementing facial recognition technology in a retail store, the analytics received, retail stores can access to a plethora of data at their fingertips to cater to customers at any time. From creating tailor-made offers for loyal customers to deploying workforce during peak hours, to making modifications to in-store layout to changes in core offers, Retail managers could implement a number of decisions backed with data.
Now it is important how to choose the best Facial recognition technology for retail stores.
Define Objectives: Facial Recognition Software can create data sets with a number of parameters. It is important to have a predefined objective to understand how the data generated could be used in business development. Counting footfall on the basis of demographics will have a completely different objective than identifying customer-dwelling time within your store.
Purpose of data: How the data could be used purposefully for business development. As Facial recognition software TORK can generate both types of data mentioned above, it is important how one can put it to good use. Understanding demographics will help in merchandise planning, whereas getting customer dwelling time within your store will help to plan the store’s layout and promo offers accordingly. Moreover, an alert like a loyal customer visit can also help to serve the customer with added attention.
Ease of Implementation: While implementing new technologies will incur expenses, it should be in line with store costs. Facial Recognition software like TORK works as in easy install mode with no high-end machinery involved. It can work smoothly with a simple IP-based camera, involving a very low cost of installation and maintenance.
User-friendly Data Interpretation: The backend’s complicated algorithms and coding to run facial recognition software and generate data out of it, must not reflect in the end user dashboard. The data generated through this software must be easy to interpret by the end user like the store manager. TORK from Softweb Technologies provides a user-friendly dashboard to interpret data smoothly. It is one of the most vital points to be considered when choosing facial recognition technology in retail stores.
Additional Features: It is also important if any additional feature or service could be generated from the implemented facial recognition technology. TORK has also a feature like attendance management that could be implemented with the workforce. A touchless biometric system that can easily be implemented for payroll management of stores.
Selecting facial recognition software technology for a retail store is important. Keeping the above-mentioned parameters in mind, it should be easier for one to decide the best for one’s store. Would you like to know more about how Facial recognition software TORK can increase your business revenue? Click here to Get Started.
