SEATTLE, Dec. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial
media network dedicated to the North American cannabis industry, announces publication of an article discussing NexTech AR Solutions Inc.’s (CSE: NTAR) (FSE: N29) recently released beta version of its
web-enabled augmented reality ecommerce solution. Over the coming weeks, the company will be working with its partners to ARitize™
their products.
Ecommerce spending is projected to rise from $2.3 trillion in 2017 to $4.5 trillion by 2021, according to Statista, as consumers transition from brick-and-mortar to online shopping. While desktops still
represent about 60 percent of the market, mobile ecommerce users have grown to capture about 40 percent of the market. New
technologies, like augmented reality, could help accelerate these trends over the coming years.
Why Augmented Reality?
Augmented reality, or AR, superimposes computer-generated images on a user’s view of the real world. The most popular example of
AR technology was Pokemon Go—a smartphone game that superimposed Pokemon characters in real world environments. Since then, Apple’s
new iPhones have introduced new AR-powered features, such as the Measure tool—a ruler that enables users to measure different
things using the iPhone camera.
Mobile AR’s addressable market is massive with 3.2 billion global smartphones today and 4.6 billion by 2020. Because of the huge
installed base of AR enabled devices in the hands of consumers, worldwide AR adoption is moving very fast. In fact, AR is now the
fastest growing technology on the planet according to Zion Research, with a CAGR of 86.5% and is estimated to go from about a $20
billion dollar industry in 2018 to over 120 billion in 2021. What’s happening with AR on a global level is simply
transformational.
The game changer for AR adoption and it becoming ubiquitous is when the AR smart glasses start hitting the market in 2019 and
2020. By 2035, AR is estimated to be a trillion-dollar industry.
Demo Video Link of Web enabled AR e-commerce:
https://vimeo.com/302693167
AR has become increasingly popular in ecommerce, with early adoption by Shopify, Amazon, IKEA, Houzz and others enabling
shoppers to:
- See how clothing or apparel looks on you.
- See how furniture looks in a room or space.
- See how art or decorations looks on a wall.
In addition to visualizing products in a real environment, AR technologies enable shoppers to interact with objects in three
dimensions to see exactly how they look. More than 35 percent of consumers surveyed by Walker Sands indicated that they would be open to purchasing more online if they had a more
realistic feel of the product remotely.
The use of AR solutions could help retailers reduce returns (by enabling customers to “try on” clothing or “see” furniture) and
lower costs (by having customers purchase online rather than in-person). In addition, these technologies could provide numerous
upselling options by showcasing how various products look in conjunction with each other or by recommending products based on a
physical space.
Plug-and-Play Solutions
NexTech AR Solutions is beta testing a proprietary web enabled AR ecommerce platform for retailers and brands to easily
incorporate AR functionality which gives customers a chance to interact with digital twins of their favorite products in the
comfort of their own homes. The company’s AR plugin will work on every website on every browser - no developer needed, no special
programing needed just plug and play.
“NexTech’s web-enabled AR platform allows small and large ecommerce websites to integrate AR into the shopping experience with
just a few lines of embed code, democratizing AR at scale and creating a true consumer platform,” says COO Reuben Tozman. “AR
offers shoppers the confidence that will motivate purchasing decisions … and provides users with an in-store shopping experience,
regardless of their location.”
In addition to 3D object visualizations, the company is developing an AI-powered guide that can learn a shopper’s style, size,
and preferences to curate products for them, as well as an AR hologram that can act as a personal shopping assistant. These
technologies could further distinguish its solutions from competitors that only offer 3D visualizations, while helping customers
quickly find the products they want to buy.
Looking Ahead
NexTech AR Solutions Inc. (CSE: NTAR) (FSE: N29) represents a compelling opportunity in the augmented reality space. NTAR has
assembled a top-flight team of developers and experienced entrepreneurs with offices in Toronto, Dallas and NYC whose mission is to
bring AR to the masses through their three AR platforms: AR e-commerce, AR university and live streaming. They are targeting
three multi-billion dollar verticals that all converge together under a trillion-dollar mega trend unfolding over the next
decade.
With NexTech’s first mover advantage investors may want to keep an eye on the stock as it rolls out these solutions with its
partners and opens the door to new revenue potential over the coming quarters.
For more information, visit the company’s website at www.nextechar.com.
Please follow this link to read the full article:
http://www.cannabisfn.com/nextech-looks-to-bring-augmented-reality-to-ecommerce/
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