To increase its visibility and access to consumers, Snap is getting ready to provide marketers with a “shopping suite.” Nonetheless, Snap users are well aware of the company’s objectives and AR competence. I would especially like to thank Lenses and Filters.
More than 250 million users use AR on the platform every day, the business claims. Comparatively, Snapchat has 375 million active users per day. The company stated in 2022 that since January 2021, consumers have used AR eyewear related to shopping more than 5 billion times. Yet, the business does not disclose a recent statistic.
The company’s partners, on the other hand, give their consumers access to filters and other accessories to create fresh styles. Amazon and Walmart-owned Indian e-commerce behemoth Flipkart are among the partners.
Snap has unveiled its SAAS Suite, which supports the following four features:
Try-on virtuality involves putting new garments, accessories, and other items of clothing to the test.
a 3D viewer that allows you to view a product from all sides.
To improve body forms, work on fit and sizing.
Host and manage all digital assets with the enterprise manager. With Snap’s SDK, develop AR experiences. AMD have a look at performance analytics.
Additionally, businesses want to directly incorporate the new, innovative apps and their features into their apps or websites.
The social media platform has gained popularity and has been working for a while to add new features. It bought Fit analytics in 2021. A business called Fit Analytics assists customers in choosing the appropriate size for clothing and shoes from online stores.
Also, it upgraded its AR-Lens creative studio in 2021 to include capabilities connected to business. Snap changed itself in April 2022 by adding facilities for virtual try-on and turning pictures into 3D materials. Though the acquisition of Forma and Vertebrae by Snap made the alteration possible.
For lens developers, however, Snap also introduced the lens-cloud back end service. Currently, the business is preparing to bundle all of this for enterprise customers.
“For the past many decades, we have worked diligently to provide Snapchatters with an entertaining and personalised AR experience. While we are eager to provide cutting-edge AR technology to businesses, websites, and apps in the coming decade.
According to Jill Popelka, head of enterprise services at Snap, “We look forward to enhancing the purchasing experience for consumers and altering business throughout the globe with AR enterprise services.”
Snap is constantly updating its features and beta-testing its SAAS product with a select group of users. Goodr, a retailer of eyewear, Princess Polly, a retailer of apparel, and Gobi Cashmere, a producer of Monoglian, are among the features.
According to Snap, these retailers have experienced greater conversion rates, more customer engagement, and lower return rates.
Unfortunately, the company’s Q4 2022 results showed that the revenue remained unchanged from the previous quarter. Yet, despite having a profitable quarter in Q4, 2021, the corporation reported a net loss.
Additionally, the business intends to use a variety of monetization tactics to move in the direction of positive cash flow.