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Snap, is all set to offer a “shopping suite” to brands to boost its popularity and access to customers. Though, snap users are very much familiar with the company’s aim and expertise in AR. A very special thanks to Lenses and Filters.
Accrding to the company, “more than 250 million people engage with AR on the platform everyday. In contrast, Snapchat has 375 million daily active users”. Last year,in 2022 the company claimed that since January 2021 users have tried shopping-related AR lenses more than 5 billion times. Though,the company did not provide an updated figure.
On the other hand, the company’s partners allow their users to access filters and other accessories to get new looks. The partners include Amazon and Walmart-owned Indian e-commerce giant Flipkart.
Snap has introduced its Suite SAAS which allows four features:
AR try on virtuality, which means trying new styles of clothing, footwear, accessories and other apparels
3D viewer, that enables to have a look at a product from all angles
Fit and Sizing : to work on body shapes
Enterprise manager: to host and manage all digital assets ,create AR experiences using Snap’s SDK AMD have a look at performance analytics.
Moreover, companies also wants to integrate the new innovative apps and its features directly into their apps or websites.
The social media platform has taken a hype and trying to build up new features since long. In 2021, it acquired Fit analytics. Fit Analytics is a startup that helps users fight the right size of footwear and apparel from online retailers.
In addition, in 2021, it added commerce related features to its AR-Lens creator studio. Whereas, in April 2022,snap has modified itself by introducing tools for virtual try-on and converting images into 3D-assets.thogh, the modification became possible Snap’s acquisition of Forma and Vertebrae.
Moroever ,snap also launched the lens-cloud back end service for lens developers. Now, the company is planning to incorporate all this into a package fro enterprise customers.
“Over the last decades, we have been hard at work bringing fun and perosnals AR experience to Snapcjatters. Whereas, in the next decade we are excited to our world-class AR technology to bussiness, websites and apps”.
“We look forward to making the shopping experience more delightful for consumers and transforming bussiness around the world with AR enterprise services”, said by Jill Popelka,head of enterprise services at Snap.
Snap is constantly working to upgrade it’s features and testing the SAAS offering with some customers. The features include sunglasses seller Goodr,clothing company Princess Polly and Monoglian manufacturer Gobi cashmere.
Accrding to snap, these retailers have seen higher conversion rates, better engagement with products and lower return rates.
Alas, the company’s result for Q4 ,2022 indicated that the revenue was flat year-over-year. Moroever, the company registered a net loss in comparison to a profitable quarter in Q4, 2021.
Moreover ,the company is planning to adopt different strategies to monetize to move towards cash-flow positives.
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