4 Ways how Object Recognition Boosts the Revenue of Your Webshop
The recent evolution of object recognition on mobile applications, has vastly improved thanks to artificial intelligence (AI). Object recognition is the area of artificial intelligence (AI) involved in the abilities of robots and other AI implementations trained to recognize objects. Once the AI is properly trained to recognize specific objects, users can effortlessly identify this particular object amongst thousands of other objects.
Object recognition is a game-changer, particularly for the industrial and prosumer segment because the laborious traditional ways to identify parts are inaccurate and slow. The principle of object recognition was established in Silicon Valley and has been gaining momentum ever since. At Snapchat, they’ve been working on incorporating an object recognition lens that will enable communication with partners such as Amazon or Shazam.
Take Pinterest for instance, they are planning to use some of these functions for fun and entertainment purposes, but with Amazon in the game, they are boosting their eCommerce business. Especially for shops that decide against using Amazon as a platform, but choose to have their own webshop and application, as they understand the immense impact object recognition has on revenue and acceleration growth.
Here are four reasons why object recognition will have a lasting impact on eCommerce:
1. Object Recognition vs. Verbal Description
The DIY market has millions of diversified products on offer, and although customers usually know their functionality, most often than not, they don’t know how they’re called or how to describe them accurately. Almost all of these objects have a go-by term that does not necessarily correlate to the shape, function or purpose of the item. A prime example is the bullnose plane. In case you are not familiar with this quirky name, a small plane with a rounded nose in the front, so that it can be used to work around corners.
These specific terms and names are unfamiliar to most people. So, when customers try to describe these products to experts, they’ll most likely end up with something entirely different from what they were initially looking for.
This tool conundrum becomes complex due to globalization, where terms such as bullnose plane, has to be translated into different languages. And who really knows for sure what bullnose plane means in Chinese or German?
The object or tool may have a different name or term for it but it looks exactly the same regardless of what country you’re in.
2. Object Recognition vs. Internet Search
Before the customer can use a parts number to find and order a product, he would first have to have one and here’s where it gets the tricky. Parts numbers are most likely listed on the original part, catalogues, explosion views, manuals or experts simply know them by heart.
So, what do we do when we are looking for something specific? Well, we usually rely on the dexterity of the big search engines. However, the search engines we so heavily rely on for information, is not the same knowledge source as our parts vendor, but a commercial search engine based in California.
The likelihood to find the right parts in this case is minimal, but the odds of finding similar parts is high. Nonetheless, the search will most likely lead the user to a commercial shop that handsomely pays Google or other search engines, a hefty amount every month to be listed high in the ranks.
Is there a commercial impact on webshops? The vast majority of parts searches leads the user away from the manufacturer and closer to the obscure market of “compatible” and “made to work with” products.
Now, every specialized shop that owns its own mobile application and enhances it with an object recognition engine ensures that the user is lead straight to its own webshop.
3. Object Recognition vs. typing in the Parts Number
When you walk into a shop wanting to buy a product, it is almost impossible to identify this article merely from its 20-digit number. Most people will ask the shop assistant to help them find it. In this case, the European EAN number is an excellent example of a standardized system that competently assigns a specific number to a specific article. In theory, this system makes it incredibly easy to identify the desired product, by typing the EAN into the system you can automatically order the article that is attached to this number.
Concerning objects, there is no standardized system of identification. Every vendor has their own system to document and categorize items and objects. Even with the packaging and the various numbers printed on the package, it is just not that easy to find the right object. The apps that deliver object recognition such xRec are simply easier, faster and more reliable for the user, hence why such apps drive user acceptance and revenue growth in eCommerce.
Object Recognition vs. Category Search
Retail and service giants ebay and Amazon introduced us to the concept of casual browsing through there, but at the same time, they have subliminally trained us to stumble across bargains and interesting articles that we never thought we’d need. However, B2B buyers and prosumers find browsing categories to find specific parts and parts assemblies, counterproductive and time-consuming.
Even the most basic AI solution is more than capable to identify the category of a product and recommend more relevant articles to the user. This makes finding and ordering the right item faster than the traditional way of browsing through a plethora of product categories.
The majority of mobile applications for webshops in the B2B Market are becoming increasingly disregarded by customers. Even though they are maintained by companies, they are rarely ever used by the clients. And quite frankly, why would anyone want to use these apps in the first place?
Here is where we come in. We build computer vision features and functionalities into existing customer mobile applications to offer users an incentive and real benefit to using the application.
To learn more about how object recognition works and how it can benefit your mobile shop application, visit xrec.com/usecases.