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The retail environment has undergone a reshaping, because of the advent of smart and technologies like interactive television, augmented reality, store based technologies, and image recognition. These innovations are referred to as ‘third wave’ because they are riding the peak of mobile and online shopping. Actually, these disruptive technologies are set to create revolution in the retail sector. Amongst each one of these new tech retail pricing optimization tendencies, image recognition offers been mapped out as the emerging technology which has the potential to create the highest impact on sales.

With image recognition technology mobile apps, systems and additional software can identify customers from their facial features. In fact, this technology may also be used to identify different objects predicated on their features. Because of this the entire globe has turned into a shop windowpane for the customers where they can find direct hyperlink from the images of products imprinted on a billboard or in journals acquiring them to the online site or physical area of a retailer. Customers can have more personal knowledge with this technology since it allows systems and software program to react to an individual. This allows the buyers to find in addition to scan their desired items very easily and quickly, which, help to bridge the gap between on the web stores and physical shops. The technology allows the gadgets and/ or website to become intuitive and they react within an engaging method with the consumers. In fact, image recognition technology gets the potential to be an authentic driving power for the retail environment.

In terms of product interaction, image reorganization enables buyers to make visual searches for the particular products they select at their gadgets. They can enjoy a fully customized mobile or online retail experience while sitting in front of a device. This picture recognition technology actually makes it easier for mobile and online buyers to experience and connect to products. And all these can be carried out simply by scanning the picture on their smartphone or tablet. Several brands are already by using this technology because of their online and mobile consumers in order to make item searching more interactive and faster. In general, most of such applications allow buyers to snap an image of the product and search the e-commerce/ m-commerce listing so when the photo fits a similar product, the result is produced to the consumers.

With such technologies retailers will have enormous opportunities; however, the advantages of these technologies are yet to be realized totally. In line with the recent market developments the experts have opined that around 12% individuals are likely to be using image reorganization technology by 2014. The retail sales too will be substantial up, because of these technologies. Image recognition technology also makes on the web transactions safer by enhancing the protection perspective of on the web or mobile payme.