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  • Tech - News - Tech Companies
  • Updated: March 23, 2023

Snap Provides Augmented Reality Technologies To Enterprise Clients

Snap Provides Augmented Reality Technologies To Enterprise C

Social network giant, Snap on Thursday unveiled AR Enterprise Services (ARES) features to companies in order to assist them in attracting more customers. 

Augmented reality (AR) is already well known among Snap users thanks to Lenses and Filters. Now, Snap is providing marketers with a "Shopping Suite".

The company said that every day, more than 250 million users interact with AR on the site.

Comparatively speaking, Snapchat has 375 million daily users.

It stated in 2017 that since January 2021, consumers had tested AR lenses related to shopping more than 5 billion times.

The business did not provide an updated amount.

The company’s partners deploy AR Lenses to let users try on different outfits and accessories.

These include Amazon and Walmart-owned Indian e-commerce giant Flipkart.

Four elements are included in Snap's new Shopping Suite SaaS package, including AR try-on, which allows users to digitally try various apparel, footwear, and accessory designs.

Additionally, users have access to a 3D viewer to view products from all angles, fit and sizing recommendation technology based on the users' body types, an enterprise manager to host and manage all digital assets, an AR experience creator using Snap's SDK, performance analytics, and help from the Snap team to customise clients' solutions.

Businesses can integrate these elements directly into their applications or websites, so customers can connect with them while looking out products.

This has been anticipated on the social networking platform for a time.

It bought Fit Analytics, a startup that assisted clients in locating the appropriate size of clothing and footwear from online merchants, in 2021.

In the same year, it enhanced its AR Lens maker studio with capabilities linked to business.

In April 2022, Snap introduced tools for virtual try-on and transforming pictures into 3D content.

They were made possible as a result of Snap acquiring Vertebrae and Forma.

It also launched the Lens Cloud back-end solution for lens developers.

Now, the company is integrating all this into a bundle for enterprise customers.

“Over the last decade, we’ve been hard at work bringing fun and personal AR experiences to Snapchatters.

In the next decade, we’re excited to take our world-class AR technology to business’ websites and apps.

We look forward to making the shopping experience more delightful for consumers and transforming businesses around the world with AR Enterprise Services,” Jill Popelka, Head of AR Enterprise Services at Snap, said in a statement.

Snap has previously tested the SaaS solution with a few clients.

They include sunglasses seller Goodr, clothing firm Princess Polly, and Mongolian manufacturer Gobi Cashmere.

Snap says that these shops have witnessed improved conversion rates, better engagement with products, and decreased return rates.

The company’s statistics for Q4 2022 showed that revenue was unchanged year-over-year and it posted a net loss as compared to a profitable quarter in Q4 2021.

The corporation has been taking initiatives to return to a cash flow-positive situation through multiple monetization options.

Last June, it launched the Snapchat+ subscription option, which now has more than 2 million paid customers.

Snap is euphoric about its enterprise services.

According to a poll cited by the company, 92% of Gen Z customers are at ease utilising AR shopping features.

A combined analysis by Publics media and Snap forecasts that the AR Retail sector will have a project value of $1.2 trillion by 2030.

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