Shopping online has become second nature to consumers, and for some products and services it outperforms physical retailers outright. Because the demand on businesses are so high to get digital marketplaces to be precise they’re always looking for the latest methods of analytical strategy and development to continue to service their consumer bases.
It’s the norm for image recognition products and services online to be paired with visuals that communicate to the consumer just what it is they are about to purchase. This approximation leads potential clients to make informed buying decisions that will lead to repeat transactions and fewer returns, limiting overhead costs. This goes into a lot more than just picking the prettiest picture.
Helping companies to pair the best visuals are startups like Slyce. What these firms do is identify the habits of shoppers and stimulating visual cues through a combination of real world data and online searches, limiting confusion on the part of consumers to find the right products and bettering the chances of retailers to provide what their customers are looking for without incident.
With believable representation and data sets that take into account what attracts the attention of consumers when out in the real world, Slyce has joined a market that’s estimated to be worth upwards of $22 billion in business solutions. This kind of data can not only help businesses sell more products with a higher degree of accuracy, but correct their inventory, prioritize key staffing positions, and plan their itinerary as per their predicted needs. This easily surpasses the data online retailers used to collect from sales and keystrokes.
Despite the estimated value of this kind of market research and the need for businesses to remain as current with data needs as possible, it’s only recently that businesses are turning to firms like Slyce, but their numbers are rapidly increasing.
Operating from metropolitan Toronto, Slyce, founded by Erika Racicot and Cameron Chell, services international businesses seeking to improve their platforms and extend their reach.
Chell, a career entrepreneur and businessman, has spent over 25 years developing businesses concentrated in technology like his company Futurelink, one of the first cloud computing services. His working relationship with Racicot stretches as far back as the founding of the Business Instincts Group, a firm that helps businesses progress their plans by making strategies and execution more efficacious. Racicot’s background is firmly rooted in retail, where she headed consumer relations at the Starwood Group and logistics in the service of junk removal.