MOC1 Command for Retail - Virtual Gate
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What is the future of retail? The closure of major chains like Toys R Us and Sport Chalet have led some to claim brick-and-mortar chains are experiencing a retail apocalypse. But in truth, retail chains are simply in the process of adapting to changing buyer behavior and customer demands. What’s occurring is, in fact, a lot closer to a retail renaissance than a retail apocalypse. And while not all retailers can adapt quickly enough to survive, the most innovative retailers are likely to have bright futures.
More and more retail brands are looking to find ways to engage customers with technology. In fact, many of the sharpest minds in the retail industry are hard at work devising innovative shopping experiences that, in addition to mobile applications, will combine technologies such as facial recognition, augmented reality, AI and CRM to create the retail stores of the future.
PREVENT ORGANIZED RETAIL CRIME AND VIOLENCE
Organized retail crime cost U.S. retailers $30 billion each year, and unfortunately, retail criminals are only getting more aggressive. Loss prevention professionals have a tough job, since it’s nearly impossible to remember the names and faces of all known retail criminals. Fortunately face recognition can help retailers proactively prevent ORC. Our patented alerting system can instantly alert retail security the moment someone enters a store who matches a documented retail criminal. We’ve seen retailers reduce losses by up to 34% as a result of face recognition.
Facial recognition can also keep stores safer. Without facial recognition, retail security professionals typically react to crimes in progress. But this has been shown to lead to injuries and even retail deaths. Face recognition empowers security to take a proactive approach, preventing crimes before they occur. Using FaceFirst facial recognition to identify dishonest customers before they commit crimes has been shown to reduce acts of in-store violence by up to 91%.
SEND MEANINGFUL TEXT MESSAGES
Retailers are great at telling who is shopping in their online stores, but this knowledge often goes out the window when a customer walks into a brick-and-mortar location. Face recognition can improve customer experiences by instantly recognizing VIP customers who opt in. Retailers can send tailored text messages to customers in stores that offer recommendations, discounts and other offers.
OFFER TAILORED ASSISTANCE IN STORES
Face recognition can also be used to send meaningful alerts to store employees. As a result, they can provide far better assistance to customers in stores. Facial recognition can integrate with a wide variety of retail solutions such as CRM, Loyalty systems, point of sale and more. Store associates can therefore gain a wealth of information about customers that can help them do a far better job of providing customer service.
These are just a few of the ways that facial recognition will help future stores more successful in 2019 and beyond. Reach out to us today if you’d like to see a demo of our facial recognition solutions for retail.
Virtual Gate is the global market leader in providing next generation capabilities to retail businesses worldwide. Virtual Gate is proven to work well in crowded spaces, making it an ideal surveillance and access control platform for retail.
Point of Sale / Self-Service Checkout: To help prevent identity fraud, and to ensure compliance with the strong customer authentication requirements set out in PSD2 in the EU, facial recognition can be used as part of payment verification during the checkout process.
Loyalty Programs: Retailers usually have comprehensive data on their loyalty program members, along with permission to use this data for personalized marketing. This makes it easy to use facial recognition to make specialized offers to these customers in-store. One example would be where a kiosk in a fast food outlet presents a customer with a customized display of their favorite dishes when they go up to order.
Frictionless Shopping: Amazon for example, has already started using facial recognition to introduce frictionless shopping in their Amazon Go stores by allowing shoppers to pay for their purchases by scanning their faces. Since the goods are tagged with RFID chips, and people’s faces are attached to their payment methods in a database, it’s not necessary for customers to manually scan the goods or to present their credit cards to make the payment.
Security: Facial recognition technology helps retailers flag known shoplifters as soon as they enter the store. If the system identifies someone as a known shoplifter, it sends out an alert, and – for example – an employee can be instructed to address the identified person by name and to offer them customer service. This is often a good deterrent, since the person then knows that they have been noticed.
Personalized Shopping Experience: Facial recognition makes it easy to identify VIP customers and to make them special offers in store.
Enhanced Customer Service: When integrated with other systems, facial recognition can provide access to a wide range of data on individual customers. The type of data includes how frequently a customer visits the store, when they last made a purchase, what their frequently purchased items are, and so on. With this information, store assistants can provide more efficient customer service and more personalized assistance to each customer.
Employee Tracking: Facial recognition technology can be used to replace traditional time and attendance systems, decreasing time fraud and increasing efficiency.
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6701 Democracy Blvd. Suite 300
Bethesda, MD 20817
Office: (202)905-2334 Ext. 673