David Marimon, Co-founder and CEO Artificial Intelligence (AI) is set to go into turbo drive embedding itself into all aspects of our lives. The technology is opening up a new world of opportunities for companies to finally go toe-to-toe with the Amazon behemoth while presenting businesses unique and cost-efficient ways to woo customers. One such company is Catchoom. A Barcelona-based IT product company, Catchoom is nothing short of an innovative idea that takes digital experiences for customers in the fashion e-retail and e-commerce industry to a new level. Catchoom offers AI-powered visual shopping solutions to assist buyers in making faster and more efficient decisions using unique retail, product, and marketing experiences as part of an omnichannel customer journey.
To begin with, the company harnesses AI-empowered retail process to significantly bring down the time consumed for preparing product descriptions and annotations. Catchoom has developed fashion-specific AI solution— DeepProducts—to assist retailers to save time and costs in their eCommerce stores with automated catalog management, and offer visual similarity recommendation and seamless product discovery with visual search features. While each day nearly thousands of products are being dealt with on an ecommerce site, the amount of time spent on annotation leads to a direct cost to the company. From the operational and production perspective, this cost to the company proves to be a limitation for its eCommerce site. “Over the years, we have developed a web interface which aids in the process of annotating descriptions that boost the relevance of search engine results,” says David Marimon, co-founder and CEO, Catchoom. Based on visual characteristics, Catchoom provides descriptions of products as opposed to costly and error-prone manual categorization.
The description is predominantly linked to the category it belongs to and its attributes. For instance, descriptions are developed, and tags are assigned automatically by studying the picture of a garment; whether isolated or worn by a model.
The team defines themselves by helping shoppers take better and faster decisions
The process of developing descriptions of products proves to be further testing for growing players when serving shoppers from different markets requires a manual translation of descriptions. Catchoom’s web interface removes all language barriers wherein translation happens automatically, ensuring that there are no human errors while mapping all categories and attributes in different languages. In a nutshell, Catchoom eradicates frustrating experiences by providing better description and categorization of the products that increase sales conversion rates through unparalleled search result relevance.
As a recent upgrade in their clientele, Catchoom debuted with their fashion eCommerce business solution with Privalia, a flash sales eCommerce site, part of vente-privee, one of the largest flash sales groups in Europe. The solution uses AI-powered visual recognition technology to provide a richer and seamless product experience to its shoppers. It saves time and cost while providing precision in catalog management which is powered by automated product descriptions. As a result of using this solution, Privalia expects a cost reduction of 30 percent when embracing automatic annotation and using web interface that allows them to validate and generate the product description.
Having provided over 750 million interactions to-date in past six years, Catchoom believes that applying AI in site searches is vital. A couple of years ago, the team has found a U.S. subsidiary that works with 20 percent of the overall business of the company. In the coming months, they aim to have a larger sales team operating exclusively from the U.S. “The team defines themselves by their mission statement which emphasizes helping shoppers take better and faster decisions. We strive with the idea that visual shopping solutions drive the evolution of the company,” concludes Marimon.
