Slyce Inc. released a press statement on November 25, through Marketwire announcing a done deal contract with a Fortune 500 global retailing client. The contract with the new client will ensure the replication of the revenue generated for the duration of the deal/agreement period. The new customer will benefit from Slyce’s visual search and digital voucher services.
The company talking to Marketwired press also announced the launching of a new image recognition solution for retailers, ‘cart abandonment’ problem; called ‘Slyce link’. The new link enables sellers to show images of similar products to their consumers. The link enables retailers to give their customers options of other products that are similar to the ones they are looking for. The link is highly sophisticated because it has a visual appeal. The consumers can see the product options, compare them and make a decision on what to buy’. Customers may show an interest in purchasing a product but because they do not have anything to compare it to, they abandon the purchase halfway through. Through this link, a consumer will have alternatives. They can decide which product they want after seeing the rest of the available products. The retailers will show their customers visually, other available substitute products. Through this link, retailers can help their customers make a shopping decision by showing them other available options they may be interested in. The links will immediately present themselves, and they can click on it to shop.
Other uses of this link could be:
• Displaying other goods that look like what you the consumer is looking for – As explained above, one can show other designs/types of the product the store has.
• Other products the customer may like – To showcase other products like dresses, shoes and bags that the client may be interested in.
• Shoes to match the desired dress/bag – A customer shopping for clothes may also want a shoe or a bag. Showing her shoes that match with the dress may benefit the seller since she may end up buying the shoes, dress or both.
Slyce Inc.’s primary goal is to ease and enable strong sales techniques and channels for online retailers. Consumers do not have to visit the store to see the products as retailers can take photos and post them online. Large retail brands like Neiman Marcus and Tilly’s make use of Slyce Inc. technologies.