Online marketplace Snapdeal recently introduced its new innovation, findmystyle.in to the world. It’s a technologically advanced product search and discovery platform, which is created to provide ‘in-store’ experience to its users in an online space. It will map purchase pattern of buyers with the help of intelligent technology solutions and smart algorithms and asserts that this will lead to a better shopping experience
The technology was designed in-house in Snapdeal’s Multimedia Research Lab and the project was helmed by Gaurav Aggarwal, Nikhil Rasiwasia, and Deepthi Singh.
Speaking about this innovative new addition, Snapdeal’s Chief Product Officer, Anand Chandrasekaran said, “We are a technology company with a focus on building cutting-edge services and products which make lives of our consumers simpler and convenient. findmystyle.in is powered by advanced computer vision and machine learning algorithms. The feature will further enhance customer experience and make online shopping faster, better and more informative.”
He added further, “With the introduction of findmystyle.in, we are looking to create an experimental playground and set the base for our image modelling, product search and discovery technology. We will continue to work on developing such innovative technology features and products that will further improve the experience for our customers as well as sellers in the future as well.”
Snapdeal has been resolutely marching towards building a superior business ecosystem. Acquiring Bengaluru-based technology start-up, Fashiate (that resulted in the formation of Snapdeal Multimedia Research Lab) was one of the key moves made by Snapdeal to achieve this goal.
Latest news from that corner is that the ecommerce marketplace will invest Rs 640 crore, which will be utilized to build top-notch technology solutions for the company. Chandrasekaran said, “We are focused on building in-house technology solutions. We plan to spend about $100 million on R&D in the next three years. This includes the Multimedia Research Lab in Bangalore.”
Experimenting with technology and developing new features, products and services will definitely help ecommerce companies like Snapdeal to stay ahead in competition. And building ‘image search’ feature appears to be the latest way to appeal to customers. First it was Flipkart that introduced ‘Image Search’ feature on app. Then it was etailers Craftsvilla and Voonik that did the same. And now Snapdeal. Who will be next? More importantly what will be the next big innovation? Guess we’ll have to wait to discover that.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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