[July 11, 2019]

Venca Quadruples Conversion Rates After Implementing Syte's Visual AI Technology

Venca, a reference e-commerce company for women, has announced that they have seen time spent onsite quadrupled following implementation of Syte's visual search technology. For Venca, the increased time spent online means that shoppers are finding more of the products they like and engaging in a more intentional way with the site. The findings were shared in a business case presented by Syte and Venca at Digital 1to1 Europe 2019, the retail executive event held in Barcelona.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190711005270/en/

Jordi Badia, CIO & CDO at Venca shares why he chose Syte to power Venca's Visual AI product discovery. (Photo: Business Wire)

Syte powers Visual Search as well as product recommendation featurs such as Shop the Look and Shop Similar to enhance user experience and engagement within Venca's e-commerce site. Syte is an integral part of Venca's mission for digital transformation.

In the presentation, both companies cited Visual Search as a key component of the online retail revolution. Jordi Badia, Venca's CIO-CDO, explained that "thanks to the incorporation of this technological solution based on artificial intelligence, we have seen an increase in conversion rates and the average duration of the client on the platform, quadrupling the previous results."

In addition, Badia added that "This tool is part of our digital transformation in order to continue expanding Venca's catalog to encompass all women in their natural environment. With the incorporation of the Marketplace functionality, there will be many new sellers and products added into the Venca eCommerce environment. In this way, the visual AI tool becomes more relevant than ever to facilitate easy search and discovery of products."

On working with Venca, Gal Deitsch, Enterprise Account Executive at Syte explained, "Venca is a great example of the impact Visual AI can have on user experience and customer engagement. By using our Shop Similar, Shop the Look, and Visual Search technology, Venca was able to enhance product discovery at every customer touchpoint."

The event, held in Barcelona, brought together more than 350 retail decision makers from companies such as Carrefour, Nike, Mars, Worten, and more to discover the latest trends in e-commerce and address the most innovative technological solutions on the market. The full presentation can be seen here.

About Venca

Venca is the fashion and home pioneer and leader in Spain in online sales since 1997, with more than 2 million monthly visits. The sum of fashion, logistics and technology allows clients to offer an unparalleled shopping experience to its 500,000 active customers.

The Venca collection, with six product categories: fashion for women, men, children, plus sizes, lingerie, accessories and home, is sold, in addition to Spain, in countries such as France, Belgium, Portugal, and Russia. Venca has 265 employees and belongs to the Digital Lola group.

About Syte

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 (News - Alert), SAP, Naver, and Oracle have established 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, and boohoo.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190711005270/en/

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