Background and problem statement
Website & sales optimization applications, a necessity for driving E-commerce sales!
There are many benefits to online shopping, and E-commerce offers quick price and product comparison, making it even more efficient and less time-consuming. These are just a few reasons why E-commerce is growing fast and is increasing its market share within the retail sector. However, there are still several important attributes in a physical store that exceed the digital environment of an online retailer. For instance in a physical store a shopping assistant would help the customer in finding visually similar products in different price ranges. These types of services are direct factors for increasing sales. Therefore it’s important for the online retailer to customize their environment in a manner that incorporates these important elements of a real shopping experience.
What is ViSPR & What does it do?
ViSPR -Visually Similar Product Recommendation for online retailers is an easy to integrate SaaS-solution. As soon as the customer clicks on a desired product a set of other visually similar products will appear from the stock.
- The service simplifies product search for customers by, assisting them in comparing similar products just like in a real store, therefore increasing conversions.
- Benefits for the online retailer include an increase in revenue and conversion, resulting from added exposure to a wide range of products. A lower exit rate is also achieved through a higher relevance in product search.
- The service also improves sales figures for the online retailer by immediately segmenting the customers’ preferences and helps to keep the shopping basket full by presenting the second closest product when running out of stock, thereby lowering the risk of losing a customer.
How does it work? Try it NOW!
Easy integration into existing processes
The integration between the online retailer and the OculusAI ViSPR service is a simple and straightforward exchange of XML documents.
- ViSPR downloads the XML feed of the retailers products
- Our algorithms generate a visual comparison chart for all products with each other
- Finally ViSPR generates an XML document for download by the online retailer, containing the comparison chart.