TEL-AVIV--(BUSINESS WIRE)--Syte, the leading visual AI startup, has announced today that they have partnered with Farfetch, the global technology platform for the luxury fashion industry, to power their new in-app visual search feature on iOS.
Farfetch has innovation at its core and a key area of focus for the business is implementing new technologies to enhance customer experience. Its implementation of visual search on the Farfetch app is the next step to creating a cohesive retail environment.
“We share a very similar vision” says Syte’s Co-founder and CMO, Lihi Pinto Fryman on their partnership with Farfetch. “It is amazing to work with a company that understands that customer experience- and the technology that enables amazing customer experience- needs to be a retailer’s number one priority in order to differentiate and survive.”
By updating the Farfetch app with this new “See it, Snap it, Shop it” feature, Farfetch hopes to empower their customers to interact with, and engage with, all of the day-to-day style inspiration they come across. Whether it’s a screenshot from social media, a photo of a friend’s envy-inducing closet, or a favorite blogger, there is a lot of style inspiration going untapped.
Ofer Fryman, Syte’s Co-founder and CEO explained that accuracy was key while building Syte’s visual search technology. “We have seen a direct correlation between accuracy and user satisfaction. If a user uploads their first image and finds exactly what they are looking for along with a selection of other similar items, they are immediately aware of the value and become loyal users of visual search. Technology like this has the potential to improve experience exponentially.”
Sara Wood, Farfetch VP Product said, “By implementing the visual search feature we want to offer customers more options for enhanced fashion discovery across all our touch points and our customers have responded really positively so far. Visual search is the ultimate connection between on and offline inspiration. By allowing our customers to show us what they are interested in we gain a deeper understanding of their needs, are able to inspire them with fashion based on what they are looking for, and enable a more personalised shopping experience.”
Tech-driven initiatives such as these are revealing a peek into the future of retail, where commerce will be a two-sided conversation. Retailers, armed with the most innovative technology, will be able to deeply understand their customers. And shoppers will glide through a frictionless purchase journey, with easy navigation and tailored recommendations.
Syte is a visual AI technology provider that improves retailer's site navigation, product discovery and user experience by powering solutions that engage and convert shoppers. With Syte, retailers can leverage shoppers’ inspiration and existing product interest to ensure they present the right products at the right time.
Partnerships with technology innovators such as Microsoft, SAP, Naver and Oracle have establish Syte as a leader in the market. Powering the visual search within Samsung and other leading phone manufacturers allows Syte to increase the reach of their retail clients. Brands currently using Syte's technology include Farfetch, Marks & Spencer, boohoo and more.
Syte has experience rapid growth since it's founding in 2014 and product launch in late 2017. They are represented by their headquarters in Tel Aviv as well as offices in London and Geneva. The company has raised $8 million to date from investors including NHN Ventures, Magma, Naver Corporation, Line Corporation, Reimage Ventures, North Base Media and KDC Ventures.