In a highly competitive market, differentiation is a key factor for success. An important part of developing this strategy comes from understanding the needs and preferences of customers and prospects. Additionally, by driving innovation and digital transformation, retailers can more easily address challenges and opportunities that will lead to improved customer experience and process optimization, which can translate into increasing sales and reducing operational costs.
Disruptive technologies such as artificial intelligence in video analytics and biometrics offer innovative solutions to transform how supermarkets, department stores, and retail businesses understand their customers and operations, aiming to enhance the experience.
One of the most relevant targets of the industry’s strategy is omnichannelity, which involves ensuring the best customer experience, frictionless, unified, and personalized across all contact, communication, and sales channels. Within this ecosystem, all formats of physical and virtual stores should be considered, including websites, mobile apps, social media, call centers, WhatsApp, email, loyalty programs, delivery services, returns, and post-sale support, among others.
“In physical stores, facial recognition contributes to the possibility of conducting secure transactions (payments, remittance collections, or cash withdrawals) without documents or passwords.”
Omnichannelity not only improves customers experience but also allows brands to collect a large amount of data from all interactions and gain insights into consumer behavior and preferences. With proper data collection, it is possible to identify customers across different channels, personalize communication, and enhance marketing strategies, creating a virtuous cycle.
Video analytics solutions enable retailers to offer unique value propositions, making them less vulnerable to competitive threats. Among their benefits, video analytics can help connect with customers in physical stores by identifying their entry and sending highly personalized messages to their mobile phones (via app, WhatsApp, or SMS). This communication significantly increases the likelihood of boosting loyalty, fostering retention, and securing customer preference. AI in video analytics can also provide data through demographic identification, patterns, and visitor preferences. With this information, brands can adjust their operational strategies, product placement, pricing, and promotions for different store types and zones.
At other touchpoints, biometrics can make significant contributions to omnichannelity by allowing customers to enroll digitally and remotely, from their mobile phones, into loyalty plans or retailer memberships. In physical stores, facial recognition helps facilitate secure transactions (payments, remittance collections, or cash withdrawals) without documents or passwords.
The combination of artificial intelligence with these technologies is revolutionizing retail operations. By focusing on customer experience, hyper-personalization, and operational optimization, companies are better prepared to face current and future market challenges, ensuring sustainable growth.
Fernando Delgado Corona
Managing Director of Business Strategy