Online retailers complain about cart abandonment by consumers. They arrive on the site, looking for a special item. They start adding the items found to the cart and then find that one of the items desired is out of stock. Some of the buyers abandon the shopping cart before checking out. Retailers lose millions of dollars in profit because of this abandonment issue. Slyce has contracted with Fortune 500 Companies to solve the pressing problem. The good news is that Slyce is a very successful visual search and coupon company. Therefore, they have the experience to accomplish that task. The even better news is that they’ve just launched a new retail product solution to cart abandonment issues.
The Slyce Link
A recent article appeared in Marketwired about Slyce Link. Slyce Link is the viable image recognition solution to shopping cart abandonment online. Just about every online shopper has abandoned their shopping cart, after discovering that one or more of the items that they were searching for is out of stock. The Slyce Link is designed to provide real solutions to the problem. The Link shows visual images of products that are very similar to the product that the shopper is looking for. The belief is that this gives the customer other purchasing alternatives and increases profits, while decreasing cart abandonment. Here is an example. A consumer is searching for a certain brand of hair-dryer on the site. The hair-dryer is out of stock. However, the Slyce Link provided visual images during the search that related to products very similar to the hairdryer. The consumer clicks the visual search product and makes the purchase.
Visual Imagery Links
Consumers access the retailers site through mobile devices and the desktop computer. Consequently, Slyce has provided advanced technical imagery to accommodate those devices. The alternatives are highly individualized, but still very comparable to the original search. The Slyce Link is still in Beta testing. However, testing with several well-known retailers has proven that the method works.
Slyce expects the new Slyce Link to make a major impact on the consumer market. The company is focused on helping retailers improve their bottom line and earn larger profits through increased sales.