Snapdeal, one of India’s largest e-commerce companies, will spend US$100 million over the next three years on its Bengaluru-based research and development center. Called the Multimedia Research Lab, the unit just launched a fashion discovery site called findmystyle.in, which gives a hint about what direction its future R&D will take.
Findmystyle.in is basically a recommendation engine that helps customers find the products they want among thousands of listings. These recommendation sites are important because they not only increase revenue, but also user engagement and loyalty.
India’s e-commerce market is the fastest-growing in Asia and Snapdeal is one of the biggest players in the country, along with Flipkart, Amazon India, and Paytm.
Snapdeal chief product officer Anand Chandrasekaran said findmystyle.in, which uses image recognition technology and machine learning algorithms, will “further enhance customer experience and make online shopping faster, better and more informative.”