Welcome to the 5th edition of ViSenze’s ‘FashionAI: Sense & Cents’ newsletter–where you can delve into the ever-evolving technological advancements in e-commerce and also stay updated with hand-picked news on retail and fashion! In this edition, we dive into a relatively new concept of search– multi-search and its revolutionary possibilities.
Not to mention, our news section is brimming with interesting articles. Without further ado, here it is!
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Product search has long been linked with the conventional method of text-based searching. However, this landscape was transformed by the emergence of visual and voice search. Just to drive home the point, image-based searches are experiencing an impressive 180% surge in India’s ecommerce sector alone. While our regular readers will surely know what it is, for those who may not, visual search is an innovative technology that enables users to effortlessly locate products by simply capturing or uploading an image of their desired item.
Building upon this transformative shift in the retail realm, we, at ViSenze, continued our mission to elevate the search experience. By going a step beyond, ViSenze introduced multi-search, wherein users will soon be able to do text search combined with visual autocomplete, or, visual search with text query understanding. This harnesses our proprietary AI capabilities to seamlessly blend product data optimization, keyword search, and visual search. Shoppers can find what they’re seeking in a jiffy, resulting in instant conversion and increased revenue streams!
To understand multi-search to its fullest, let’s look at its sections. One such segment is text-based search. Since it is traditionally associated with ecommerce search, users naturally lean towards this as their primary search option. Within multi-search, this is combined with Visual Search applications, which not only enable the users to search through images but also allows for Smart Recommendations.
This exposes the customer to outfit recommendation strategies such as ‘Shop the Look’, ‘Outfit Inspiration’, and ‘Visually Similar Product Recommendations’ or ‘Similar Look’. Shoppers further get access to deeply personalized product recommendations that engage them through the shopping journey.
The various segments of multi-search combine to give the most important result – higher sales!
Multi-search is all set to change the face of online shopping!
Oliver Tan, our co-founder and CEO, has this to say about multi-search. “Quite often keyword-based text search can become tedious for shoppers. Type in a keyword, hopefully, the right one, and keep scrolling and scrolling. It is indeed a circuitous route to take to find an item that they love. How about enabling them to search better? Enter multi-search functionality!
Online marketplaces will soon have this feature wherein shoppers can combine two ways of searching, visual and text, to get better results–text search combined with visual autocomplete, or, visual search with text query understanding. And wait… all of this happens in a single query. Online shopping will become more natural, easier, and joyful!
Head over to our blog to keep exploring and reading further! https://www.visenze.com/blog/2023/05/19/multisearch-ecommerce-search-enrichment-using-existing-visual-search-tools/
Thanks to major tech advancements, mobile apps have been driving significant changes in retail customer journeys. This transformation isn’t stopping anytime soon due to a few anticipated and exciting trends. These forecasts include the game-changing idea of Omnichannel Integration, which aims to create a seamless shopping experience across various platforms, and app features that encourage sustainable and ethical shopping practices.
User Generated Content has proven to be revolutionary for Formula One’s popularity and its merchandise sales. The new generation of stylish and fashionable drivers that engage with their fans on platforms such as TikTok and Instagram serve as inspirations for audiences. Thus, not only are Formula 1 stars driving incredible machines, but they are also driving high retail sales!
Visual AI has extended its influence beyond just the ecommerce sector. For instance, Trimble SketchUp has integrated a visual search tool, allowing users to discover pre-built 3D models by using images instead of text descriptions. Even Bing Chat has embraced visual search, enabling users to upload images and receive chat responses tailored to those visuals.
The Global AI in Ecommerce Market is projected to advance with a remarkable compound growth rate of 13.4% from the current year up to 2028, reaching an impressive 15.9 billion USD milestone. The market trends are leaning toward Voice Commerce and Visual Search, setting the stage for exciting developments ahead.
In a first, luxury brands are venturing into the world of sports sponsorships. Their motivation? The potential tt reach a vast international audience. Instances of these include Prada’s partnership with China’s women’s soccer team for the recent FIFA Women’s World Cup and the upcoming sponsorship of the 2024 Olympic Games in Paris by LVMH. Burberry also collaborated with Able Made, a climate-conscious soccer-inspired lifestyle brand, to craft a soccer apparel line. With the line featuring upcycled Burberry fabrics, it offers environmentally-conscious shoppers a taste of luxury and responsible fashion.
A notable turn of events also occurred in the retail scene. Following a near break-even performance in 2022, Shein achieved its highest-ever first-half net profit in the company’s history.
That’s all the update for now! Look forward to your continued support! Visit ViSenze.com to know more!