In the old days, back when Reagan was president, the retail business was primarily a brick and mortar business. Consumers had to leave their homes, drive to a mall or a downtown shopping area, and purchase what they wanted or needed. Most consumers had no idea if their favorite store had the product they needed in stock or if their size was available. Retail buying was a hit and miss endeavor, and consumers put up with that sort of business model. The reason they put up with it is simple. That was the way it was always done. Retailers didn’t have the courage or the foresight to change that system. Then the computer took hold, and life as we knew it changed forever.
Getting adjusted to the computer hasn’t been easy for the older generation, but the millenniums took to it like ducks to water. Baby boomers were cautious, skeptical and fearful of the Internet, but as new applications were introduced the old folks knew they had to get with the program or stew in their own ignorance. When the Internet exploded, and new business models were introduced, retailers realized they had a tremendous opportunity to expand their businesses. The big challenge was how to display products so the consumer would relate to them. The Internet wasn’t “touch friendly,” and a large number of products rely on consumers to see, touch and analyze them before they purchased them.
When product recognition was introduced as an application of image recognition, the retail game changed dramatically. Product recognition has different marketing and e-commerce uses. Companies like Slyce was one of the first companies to introduce an advanced form of pattern imaging technology which made product recognition possible. The Slyce technology can stream capture images, and then it matches images through a series of recognition stages. The Slyce technology produces exact results for every image search. Product recognition is the tool that is slowly putting the brick and motor retail business on notice. Retailers have to sell to consumers online and in stores.