To the consumer, the practice of shopping online is simple. They look for the item they want, select the size if applicable, pay, then wait. There seems to be little to no difference to an in-person purchase of any product. But for the companies that run online stores and marketplaces, quite a bit goes into it.
For those who’ve had extensive experience shopping online, some may have encountered a scenario like the following: they’ve found a garment that interests them, they select the color and correct size, but when it arrives they find the clothes that looked proper on the model are ill fitting on them. While this could be the result of a disreputable manufacturer, too often it’s the result of poor visual search.
Startups like Slyce are gaining in popularity with online businesses for their expertise in visual searches and recognition. What they do is help these distributors identify the best possible images with the products they have for sale by accessing real world data of human interaction to visuals, minimizing confusion on the part of consumers and increasing their overall sales.
By combining data from images along with data sets from consumers in similar markets, Slyce is able to access real world images to communicate to clients a believable representation of the product in question. With this information, businesses online, including their brick-and-mortar counterparts, can organize inventory, sales and staffing around their predicted needs. And though data sets have been used to drive consumption by keying in on different variables in the past, the most direct communicating element in buying decisions (images) have often gone overlooked in favor of keystrokes, leaving this sector inadequately serviced.
Despite being relatively new to servicing the needs of retailers, large businesses are coordinating with companies like Slyce in record numbers, looking to master this trend in analytics in increasing numbers.
Slyce, based in Toronto, Canada, was founded by Cameron Chell and Erika Racicot. Chell is a career entrepreneur that has spent more than 25 years working to build and develop businesses that service the needs of the tech sector. This includes the Business Instincts Group, which helps to accelerate a business’ growth through strategy and utilizes their strengths by organizing management to its highest efficacy, and Futurelink, a cloud service provider he founded in the late 1990s.
Racicot comes to the table with a retail background, focusing on customer relations during her time at the Starwood Group, then coordinating logistics for companies in waste removal. Racicot also helped to found the Business Instincts Group where almost a decade was spent working in product development, marketing and public relations.