Retailers chasing Amazon with secret technology tool, expert says
Is "Big Brother" watching your shopping habits?
More retailers, including Walgreens, Kroger, Guess, and Ralph Lauren are turning to facial recognition technology in order to connect with customers. The software can detect age, gender and even a shopper's mood.
But according to Kurt Knutsson, the Cyber Guy, these companies are also using it as a secret weapon with one particular in mind.
“All these retailers are embracing technology because they’re trying to figure out, ‘how do we beat the beast?’ How do you beat Amazon?” said Knutsson to FOX Business’ Maria Bartiromo on Wednesday.
Australian shopping centre company, Westfield Group, is just one of many businesses embracing this technology. According to Knutsson, it’s has been a good long-term investment.
“They went from, essentially, a landlord of retailers and became a partner,” he said.
So how does the technology work?
According to Knutsson, it learns patterns to predict how a customer may behave to utlimately keep them shopping longer.
"The whole goal behind this is how do you win back the customer at a traditional brick and mortar mall space?" he said.
