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10 March 2021
AR and VR: the next phase of social commerce
E-commerce & mobile retailEvolution of retailVirtual & augmented reality
Companies including Facebook, Google, TikTok, Snap and Pinterest are in an arms race to deliver commerce ad formats and tools to help brands to sell to users within their platforms. The next phase of this battle will involve augmented and virtual reality technology, according to a new WARC Exclusive.
Why it matters
AR and VR can help e-commerce retailers overcome one of their biggest challenges – the fact that customers cannot try on or experience products before buying them.
According to a Nielsen survey, 51% of consumers would be willing to use AR technology to assess products.
Brands have dabbled with AR – from IKEA’s ‘Place’ to L'Oréal's ‘Modiface’ – but most experiments have been limited. The opportunity grows as more consumers join 5G mobile networks in 2021.
Shopify has launched its own AR toolkit for small commerce businesses, and reports that interactions with products accompanied by AR content showed a 94% higher conversion rate.
“Expect to see AI, VR and AR start to merge through social commerce and shoppable media as technology tightens and quickens the consumer journey even further.” Maria Bain, Strategy Director, iCrossing UK.