The newest way to shop for jewelry online is here. The CEO of Syte, Vered Levy-Ron, talks with Rapaport Magazine about her journey to change the jewelry industry.
"As the world’s first product discovery platform, Syte uses visual artificial intelligence (AI) to create intuitive search and discovery experiences for all types of shoppers," said Levy-Ron when describing what Syte does and how it can improve business. "Syte’s visual AI was trained to take any image, understand what’s in it, and use that data [to make the search and discovery experience seamless]. Our solutions include visual search, automated product tagging, personalized recommendations, shoppable social curation, and more."
When asked what products Syte offers, the CEO said, "Syte offers an AI-based Visual Discovery suite that helps turn every jewelry item — at every stage in the online buyer journey — into a shoppable and discoverable image. We offer a variety of features, including discovery buttons to find similar items, camera search to upload a photo of jewelry the shopper likes [in order] to find similar items, and advanced personalized recommendations to map shoppers’ intent with items they’ll want to buy. Our visual AI also makes it easy for shoppers to identify, find and buy multiple items within each image.
"We also offer an AI-based Deep Tagging and Merchandising suite that automatically augments jewelry images with unique product attributes to improve text search results and increase conversion. This saves time and money in the merchandising process, improves product discoverability, optimizes inventory planning, and helps merchandising teams curate collections instantly and tag new inventory at scale."
Levy-Ron was then asked about the current problems retailer websites face, to which she said, "Shoppers can’t find what they’re looking for because it is difficult to describe jewelry in words. There are a number of professional words used to describe jewelry that are generally unknown to shoppers, leaving them frustrated at not being able to describe their jewelry style.
"[Another problem is] high bounce rates from “window shoppers,” because they don’t see anything that inspires them, and get tired of browsing tile after tile of images to find the perfect item. It’s often difficult and time-consuming to promote excess inventory through e-commerce channels. [Retailers] also need to know how to recommend personalized and relevant offers for shoppers."
When asked what's next for Syte, Levy-Ron said, "[Among other things, we are] adding a variety of social commerce and marketing tools that will enable shoppers to find and buy items they love through shoppable stories, user-generated content from Instagram, and personalized email campaigns. In addition, we’re working with our customers on in-store solutions to help connect shoppers with the full range of available inventories. For example, let’s say you’ve seen a picture of a ring or a necklace that you absolutely love. You head over to a nearby jewelry store with that picture on your phone to look for something similar. If the item is not in the store, the salesperson can search and share similar jewelry via the retailer’s online store."
Information originally sourced from Rapaport Magazine.