Slyce Announces Contract With Major Retailer Will Double Revenue And Also Unveils ‘Slyce Link’ Technology
Slyce recently announced the finalizing of a new contract with one of its Fortune 500 retail clients. This contract represents a doubling of its revenue over the life of the contract.
In addition to announcing the lucrative contract on slyce.it, Slyce also launched its new software solution called “Slyce Link”. As mentioned in a recent MarketWired article, the new software is currently in beta testing stage with one of its retail clients. Slyce Link addresses one of the major causes of online shopping cart abandonment by showing shoppers similar products at strategic times. As an example, if a shopper is looking for a certain red shoe in size 7 but the particular item is out of stock, Slyce Link will show the shopper visually similar red shoes in size 7 that they may be interested in purchasing. Statistics show that the percentage of online shopping cart abandonment is 75 to 85%. This software solution will increase the amount of potential sales that are closed by offering relevant alternatives.
Slyce Link is also capable of features including sending an Email or SMS to customers who abandoned their online shopping cart with visually similar alternatives to the purchase they were showing interest in.
Based in Toronto, ON, Slyce’s technology is a visual product search engine that allows consumers to use their mobile phone to snap a photo of an item that they are interested in and have purchasing choices presented to them. Aside from its mobile platform, Slyce technology can also be embedded into a retailer web site.