- “While year-over-year consumer spending in the U.S. dipped last month, the pandemic has supercharged ecommerce. According to data from IBM’s U.S. Retail Index, business closures and shelter-in-place orders accelerated the shift to digital shopping by five years, with online shopping projected to grow nearly 20% in 2020.
- Based on the survey data from BMC and Mercatus, ecommerce grocery orders alone totaled $5.9 billion, up 3.6% from $5.7 billion in August.
- As of Q1 2019, just 2.72% of ecommerce website visits converted into purchases, according to Statista.
- Klevu customer Puma says it saw an over 50% increase in search-led conversions on one of its websites after adopting the platform.”
- “Syte’s product discovery platform enables brands and retailers to automatically create personalized journeys, introducing each unique shopper to the products they’re most likely to buy in the way they most prefer to shop.
- These bespoke journeys are proven to increase online conversion rates by an average of 177% and average order value by 9.8%.”
Headquarters: Tel Aviv & Geneva
Key Product: Visual Discovery Suite
Camera Search – Create an intuitive path to purchase by empowering shoppers to upload any image or browse through a curated inspiration gallery and find their perfect item.
Articles about Syte:
Clients: Shane Co, Prada, De Beers, Tommy Hilfiger
Awards: Draper Award Shortlist, Gartner Hype Cycle, CB Insights
Ofer Fryman (CEO) – linkedin.com/in/oferfryman
Idan Pinto (COO) – linkedin.com/in/idanpinto
Dr. Helge Voss (CTO) – linkedin.com/in/dr-helge-voss-0a489110
Lihi Pinto Fryman (CRO) – linkedin.com/in/lihipintofryman
Average ROI = 423%
AOV Uplift = 9.8%
CVR Uplift = 177%
Syte Visual Conception and its subsidiaries and products are protected by one or more of the following U.S. patents: https://www.syte.ai/patents/
“The Celebros Search solution was selected because of its AI driven intelligent search and seamless integration with Magento, the eCommerce platform that powers many of MAP’s online stores. Celebros uses machine learning to understand user behavior and trends to provide customers with accurate and relevant results and recommendations. This will be especially important to the New Balance website because of its large and diverse product catalog.”
- “The customer searching online tries to make their query as accurate and intelligent as possible while the search engine simply responds by sharing everything it knows, but without actually answering the question. AI by contrast can spot what the customer intends and gives answers based on that intent, depending where an individual shopper is in their own personal buying journey.
- By ensuring that their search strategy is underpinned by AI, retailers can then introduce more dynamic search enablers, such as visual and voice. But rather than simply adding commands, the customer is able to hold conversations with the digital assistant using natural language. Search then turns into discovery and it is this that leads to higher customer conversions, repeat visits and long-term loyalty.”
(Image credit: Shutterstock)