NexTech Looks to Bring Augmented Reality to Ecommerce-- CFN Media

Seattle, WA - (NewMediaWire) - December 06, 2018 - 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/

About CFN Media

CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

Frank Lane
206-369-7050
flane@cannabisfn.com

  • Source: CFN Media