WHAT IS IMAGE RECOGNITION?

Image recognition (IR) is driving progress in the consumer packaged goods industry. In this blog, we’ll discuss what image recognition is and how the forward-thinking brands who embrace IR on their digital transformation journeys use it to become more efficient and sell more.

So, what is image recognition, how does it work for CPG companies looking to increase incremental sales in-store, and how does this digital technology help businesses gain new insight and interpret visual data to drive growth?

What is Image Recognition?

Our most-loved tech – smartphones, tablets, or the latest vehicles – all have cameras. It’s how they ‘see’ the world. Image recognition (IR) is a subfield of artificial intelligence, more commonly known as AI. In the context of machine vision – or a computer’s ability to “see” – image recognition is the ability of software to identify objects, places, people, writing, and actions in digital images. IR allows computers to isolate, identify, and interpret visual data from images and videos or in the real world.

Let’s break down how Image Recognition interacts in the real world:

1. Isolate:
The system can separate specific objects within an area of interest, such as a photograph or a still from a video.

2. Identify:
Image recognition analyzes and processes an image’s visual content and then compares it to previously learned data. It uses machine learning (ML) algorithms to categorize images based on the patterns and objects they contain.

3. Interpretation:
Beyond identification, IR solutions can be trained to interpret context in specific scenarios, such as an empty shelf as an anomaly.

Growth in the Real World

The image recognition market is projected to reach $13.72 billion in 2024. Savvy CPG companies are already taking notice and investigating how to incorporate IR into their digital transformation journeys. IR is making an impact on CPG companies that are ready to adapt. These brands can use the insights they’ve gained from image recognition to turn incremental growth into impressive future sales.

Image Recognition is Revolutionizing Retail Execution

While it can’t predict the future, IR can leverage the robust amount of selling data already supplied by your brand, your stores, your markets, and even your competitors. Your field team is ready to drive growth with IR. Let’s learn how!

1. Adapt In Real Time:
With image recognition, field teams can digitally manage their retail execution goals right at the shelf. To start, they’ll need to take a photo of the shelf with a smartphone or tablet. Using an IR-enhanced solution such as StayinFront Interactive Shelf, they can access and alter the data gathered from that photo with just a tap of their screen.

2. Proactive Practices:
Interactive Shelf uses IR to identify incorrect or missing items and captures immediate feedback from field teams. This is especially helpful for CPG companies. Field teams can leverage IR to track inventory that may be Out-of-Stock or misplaced on the shelf. It allows them to be proactive and adapt to real-time shelf conditions.

3. Track Competitors:
With Interactive Shelf, field teams can create a reverse planogram using AI-powered IR to track various metrics, such as identifying their competitor’s Share-of-Shelf and changes to the shelf over time. CPG companies can leverage Interactive Shelf to improve the quality and consistency of the shelf’s condition for their brands.

4. Team Transparency:
Supervisors can see actual shelf conditions and actions taken by their field teams.

5. Identify Opportunities for Improvement:
Category and Account Management teams can review and compare accurate reverse planograms against the agreed layouts. They can quickly identify non-compliance and opportunities for growth.

6. Driving Future Growth:
Category and Account Management Teams can also compare sales performance against actual shelf position data to inform category management decisions and account relationships, driving future growth for their brand.

Image recognition is becoming more and more common in our daily lives – from our smartphones and cars to field teams driving more sales in-store.

Discover how you can use this same technology for your brand and sell more in every store visit. There has never been a better time to take advantage of AI-powered image recognition technology and begin your digital transformation journey.

Interested in learning more about powerful AI-driven image recognition technology? Contact a StayinFront sales rep to learn more!