Visual Search Startups are helping companies give their users the ability to locate products online, through photos that they have taken of objects offline. Anupama Pasumarthy proclaims that whenever she shops online, she is usually disappointed by the recommendations she receives. She proclaimed that she either encounter issues surrounding the size of clothing as well as shoes in regards to being ideal for her size. She also proclaimed that as a result of this, she finds the concept of shopping offline, significantly more convenient.
Statistics demonstrate that savvy millennials such as Psumarthy fall within the demographic which most major fashion retailers go after. However, the problems she faces is typical for most people who shop online. In an effort to alleviate this problem, start-ups such as Stylumia Intelligence Technology provide A.I. visually based solutions. In fact, reports demonstrate that multiple startups across the globe are trying to perfect the concept of visual search. Visual search start-ups can prove to be extremely resourceful to companies because they can enable their users to find products on the internet, based off the photos they have taken of objects offline.
Globally, visually start-ups are striving to cater their services to specific verticals, but generally have concentrated their efforts on consumer applications. Stylumia for example, only focuses on fashion and can help both business and consumers alike, when it comes to conducting data based decisions. However, despite the progress that this type of technology has made, experts note that there’s some difficulty on the supply-chain side. The chief executive officer of Third Eyesight proclaimed that large retailers are essentially structured in a way where it takes them several months before they are able to respond to a given trend. He proclaimed that, until they can rectify this situation the data that visual start-ups have to provide will remain just that, data.
Slyce Inc is a leading visual search and recommendation company that is headquartered in Toronto, Canada. The company was established by Erika Racicot and Cameron Chell and they released Slyce’s visual recognition technology back in February 2013 during the Mobile World Congress in Barcelona. By the end of 2013, they were able to secure $6 million in financing.
The technology itself helps users to identify products, based on pictures they have taken in the real world, and allow them to purchase the very same item through their smartphone. Since the company came into existence back in 2012, the company has traded on the TSX Venture Exchange market and have partnered with 6 of the top 20 fashion retailers within the United States who uses their technology as a mobile application.