Biometrics technology is now widely used in the Retail industry for greater security and contactless payment. More related technologies are on the way as the retail industry grows with technology. Biometric defines the use of a person’s physical traits like voice, fingerprint, and palm veins, face, etc. to identify them. In our day-to-day lives, we are using this technology so many times.
The pandemic has changed the customer approach towards in-store shopping and retailers are in search of new ways to attract them to store back.
In the coming years, going shopping will be like a sci-fi movie. You are just entering a mall and the face recognition system recognizes you and displays your favorite brand’s new arrivals, your favorite color products, etc. The checkout delays, payment queue, anything won’t be there. The voice recognition system helps you to find the location of a product that you are looking for. Everything will be under Biometric and AI technology. Those kinds of shopping experiences will not be far away.
How do biometrics benefit the Retail Industry?
As technology grows different types of biometric devices also comes to market including,
- Facial Recognition
- Fingerprint Recognition
- Iris Recognition
- Voice Recognition
- Retinal Scanning
- Palm Recognition
- In-Ear Acoustics
- Behavioral Biometrics
- Finger Vein Recognition
Retail industry mainly uses fingerprint recognition, facial recognition and sometimes voice recognition to identify their customer behavior like the online retailers using cookies for remarketing. The data collected can be used for classifying your customers and customizing your promotions according to it.
The brick and mortar stores are currently using biometric technology for payment purposes, almost every store has a contactless payment system. An easy checkout will make customers happy and it actually makes loyal customers. Security and anti-theft systems go hand in hand with biometrics. Many big stores were already using a face recognition system to scan and identify their store visitors which helped them to completely stop the shoplifting and it bolsters the security as well. Biometrics technology helps retailers in supply chain management. The most demandable things can be sensed from the biometric device data and those items can be restocked before the shortage. This helps in wastage reduction and increased productivity.
While biometric technology has several practical applications, it has also been facing some questions regarding consumer privacy concerns. It’s critical to keep this worry in mind as the retail industry continues to implement these technologies. Thankfully, advancements in data security are a priority in the biometrics sector.