Marketwired published an article about Slyce’s double contract with a fortune 500 retailer. Slyce is a very well-known visual search company. On November 25 they had finalized a contract with a global retelling company which will make Slyce’s revenue double over the term of the contract. Slyce also mentioned that they were going to launch Slyce-link which is a retail technology solution. Slyce-link will enable retailers to show products that are visually similar to their customers online and enable them to quickly make a purchase. This product will help retailers to an increase their sales.
This image recognition platform uses sophisticated visual search analysis to help websites, mobile sites, and applications to give customers the best alternative to any selection that they make when it comes to products. This is a solution that will help to avoid cart abandonment. Some retailers have a cart abandonment percentage from 75 to 85% and this platform will help retailers to get their clients to actually make the purchase for their transaction.
This also allows their customers to quickly show similar products to their clients. These are products that they may be interested in that could either be paired with their product, or items that could be bough instead of a product. A good example is the following: if an individual were to want a red shoe in size 7 but there were no more available on a site, then the Slyce visual technology would quickly show the consumer a similar size 7 red shoe that they could purchase instead. This will increase the probability that the client will make a purchase on that website. In that way the retailer will get the sale, and they client will walk away happy.
Slyce is a company that is based in Toronto Canada. This is a company that gives very “high-quality and sophisticated visual research technology and they are working currently with many of the major retailers in United States and around the world. Some of these retailers include, but are not excluded to the following: Neiman Marcus, JCPenney’s, and Home Depot. Slyce is able to receive multiple revenues from its many visual search technologies, purchase transactions, and data analysis. Slyce is a company that takes visual searches to the next level. They have been able to achieve much success in the past and with this new contract Slyce is sure to have more success in the future.