TORONTO, ONTARIO--(Marketwired - Oct. 2, 2015) -
Editors note: There is a video associated with this press release.
Leading visual search platform Slyce Inc. (TSX VENTURE:SLC) today announced it was selected and has formalized an agreement (the "Agreement") with New York-based marketing and technology firm, BlueSoho.
BlueSoho delivers compelling campaigns for forward-thinking marketers that drive consumers in-store, turn shoppers into buyers and foster long-term relationships by building loyalty through brand activation campaigns, mobile-first digital strategy and development, local-promotional media, to all facets of creative and production. Pursuant to the Agreement, BlueSoho will incorporate Slyce into its integrated retail and brand activation solutions for publishers, major retailers and Fortune 500 companies.
Increasingly, retail and publishing applications and marketing campaigns include mobile activated media in which the smartphone camera can be used to make content - whether delivered via radio, TV, in-store and OOH (Out of Home) signage, direct mail, circulars, catalogs, packaging, newspapers, publications - more interactive and dynamic, ultimately transforming any page, object or image into a purchasable product.
In Q1 and Q2 of 2015, all of the top 50 U.S. Magazines included mobile activated programs. 1,374 unique magazine pages could be scanned with a smartphone's camera, 67% of which drove users to a mobile shopping experience. Hearst, Meredith and Time Inc. - all of which are BlueSoho clients - are among the top publishers in the mobile activated space.
The number of top 50 retailers that incorporated scanning technologies into mobile applications grew from 28% to 50% from 2014 to 2015. Retail leaders in e-commerce innovation, such as Macy's, JCPenney, Nordstrom and Kohl's, have all launched innovative solutions that involve mobile and mobile activated media to transform their brand's touch points and in-store shopping experiences.
The Slyce platform activates the smartphone camera function for retailers, brands and media companies essentially bridging the gap between customer inspiration and gratification. Its proprietary visual product search technology creates multiple use cases for retailers and publishers which aim to improve their users' shopping and brand experience while increasing sales and engagement.
"We're immensely excited to explore numerous business development opportunities with BlueSoho and see significant potential in presenting and implementing our technology with the leading organizations in the global magazine publishing and retail industries which make up their core client base." said Mark Elfenbein, CEO of Slyce Inc. "The appeal for brands to provide seamless, real-world, 'snap-to-buy' functionality for their customers is extremely high and Slyce continues to position itself as the leading provider in the industry, contracting not only with brands directly but partnering with highly-innovative companies such as BlueSoho which are playing a pivotal role in helping brands shape the new generation of e-commerce."
"BlueSoho's philosophy is that customers should be able to shop from any place, at any given time," stated John Puterbaugh, Managing Partner, BlueSoho. "We chose Slyce as a partner because their unique offerings and capabilities allow us to create shoppable media that connect our clients with their consumers at the right time and place in a way that embraces the buyers' motivations, preferences and desires."