Slyce’s new technology aims to utilize the increased use of mobile phones in taking and sharing of pictures on social media and buying items online. The product recognition technology allows consumers to take pictures of something that they spot, and enables them to compare that with other similar or same products available in retail shops. They can also make online purchases. This will change our previous perceptions of the retail market. The possibilities it will bring forth are limitless. The technology comes in form of an app and a website.
Slyce will be working behind big retailers. The technology will be integrated in the websites of the retailers. You are not likely to practically see the Slyce app as a result. As of now, the company is already in talks with major retailers in the United States.
The technology presents limitless opportunities for consumers especially those who like shopping. Whether they spot a cute dress worn by a friend while walking in the streets, or they are just looking at images on social media, they will be able to spot something they like, take a picture of it, and immediately buy the same item or a similar one from the retailer.
This is not the first time that this type of technology is entering the retail market. Amazon is the pioneer in the field with their Amazon Flow. Amazon Flow is similar to what Slyce has come up with. Users of Amazon Flow are able to take pictures of something that they spot and get the Amazon listing instantly.
But Slyce’s new technology is not just a carbon copy of Amazon Flow. While it works around the same concept, it comes with additional features that aim to better the service experience. Unlike Amazon Flow, it allows users to take pictures of items in any state. For Amazon Flow to work, the product must be in its original packaging, therefore limiting consumers to the stores.
When the picture is taken, the technology first identifies the type of the product; it could be a shirt or vase for example. It then looks for specific details. In the case of a shirt, it could look at the color or the print pattern. It then compares the item with other products available in the database of the retailers. Consumers either get a perfect match or a product that is similar to the item.
Retailers will also greatly benefit from this technology. Driving sales is not the only focus here; they will get to know what the consumer needs. They will also know the exact moment that the consumer needs to buy a particular product. This kind of information will be very helpful now and in future.