Slyce is a company that specializes in product and image recognition platform allowing consumers to identify and buy items that are offered by retailers. Slyce uses advanced visual search technology that is available on smart phones and other devices like desktop, laptops etc, to enable retailers to be ready to assist consumers in their areas of interest. Consumers are able to apply product recognition technology by identifying something they like on various social sharing sites. Indeed, Slyce has improved the way retailers interact with customers, and also the way consumers search and purchase items.
Slyce’s objective is to allow people snap photos of items in the real world and then assist them in identifying those items and direct them where to find to find the products. The company provides technology as a package to work under a platform called white-label solution. Slyce has partnered with six out of 20 top retailers across the U.S. The application will first identify the item, and then determine unique features on that item.
Market strategy and opportunity
Slyce’s marketing strategy is centered on creating a relationship with consumer brands and using modern technology as a reliable m-commerce solution. Therefore, the company’s marketing strategy is focused on strengthening and developing partnership with retailers and brands. The company has an immense market opportunity where the use of smart phones has facilitated M-commerce platform which is a major source of revenue for retailers.
Slyce has created opportunities for consumers to discover products they like and purchase them at any time they want. Consumers are only supposed to take pictures of the products they are interested in and let Slyce facilitate the process of buying. On the other hand, retailers are given opportunity to fulfill the needs of their customers anytime they are interested in their products.