TEL AVIV, October 13, 2021 — Syte, a leading provider of product discovery technology for the retail industry, today announced that its Product Discovery Platform is now available on SAP® Store, the online marketplace for SAP and partner offerings. The platform integrates with the SAP Commerce Cloud solution, enabling brands to leverage Syte’s visual and text search, product tagging, and product recommendation solutions to deliver data-driven product discovery experiences at scale.
The integration of Syte’s solution with SAP Commerce Cloud will grant customers access to previously unavailable visual-AI-powered search and discovery experiences, product catalog mapping, and deep product tagging. Syte’s Product Discovery Platform enables brands and retailers to provide personalized shopping experiences for every type of shopper by using visual AI to understand customers’ preferences, tastes, and context. Between June 2020 and June 2021, Syte customers using the company’s product discovery solutions have seen an average of 223% increase in average revenue per user, 2.9x conversion rate uplift, and 12.4% increase in average order value.
“We’re thrilled to be partnering with SAP to help brands and retailers connect shoppers with their ideal products by leveraging Syte’s unique visual AI technology,” said Vered Levy-Ron, CEO at Syte. “Both brands and shoppers can benefit tremendously from AI-powered solutions that change the game for merchandising and product discovery. This partnership is only the beginning of creating a best-in-class customer experience for shoppers.”
As the busiest shopping season of the year approaches, Syte’s partnership with SAP gives major brands and retailers the ability to tackle any merchandising and product discovery challenges they’re facing, and to present new opportunities to attract, convert, and retain holiday shoppers through comprehensive, connected customer experiences. The partnership also allows customers the ability to:
Connect Shoppers with the Right Products. Enhance product discovery and the overall customer experience by making it intuitive and personalized.
Automate with Visual AI. Automatically enrich data infrastructure and improve accuracy and depth of catalog mapping, product tagging, and onboarding.
Leverage Visual Data. Provide unique advantages
enabled by visual data, including improved searchability, enriched meta-data, hyper-personalization based on deep visual details of products, and more.
Optimize Business Performance. Improve performance, proven through year-over-year increases of average revenue per user, conversation rates, and average order value among Syte customers.
SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying, and renewing more than 1,800 solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. And for each purchase made through SAP Store, SAP will plant a tree.
Syte is a partner in the SAP PartnerEdge® program. As such, it is empowered to build, market, and sell software applications that supplement and build on SAP software and technology. The SAP PartnerEdge program provides the enablement tools, benefits, and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. The program provides access to all relevant SAP technologies in one simple framework under a single, global contract.
Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking
statements are subject to various risks and uncertainties described in SAP’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates.
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