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The Future of Commerce is Here. Are You Ready?

April 28, 2021 • Written by Camera IQ

The Future of Commerce is Here. Are You Ready?

Welcome to our new digital reality.

Digital commerce is on a high — and there’s no looking back. Online experiences are now defining the entire buyer’s journey. Across industries, social media has emerged as the best-in-class eCommerce platform.

That’s because today’s consumers spend more time than ever on their mobile devices — and nobody does mobile better than social. As competition grows to capture the attention of mobile-first consumers, brands are turning to shoppable content like AR technology to set themselves apart.

Camera IQ’s latest market research report reveals that brands should prepare to embrace the future of shopping, starting now. Here’s why.

 

Across industries, here’s what’s fueling the future of commerce.

Over the last year, digital commerce has grown by leaps and bounds — and it’s here to stay.

“The first half of 2020 saw an increase in eCommerce equivalent to that of the previous 10 years” (McKinsey)

Social commerce will far outpace the growth of eCommerce in 2021. Consumers are not only using social media to discover new artists, shows, and products. They’re also making purchases on social. “An estimated 55% of US adults have bought something on social media” (eMarketer).

AR is the most effective medium to reach, engage, and convert consumers on social media.“61% of consumers prefer to make purchases that offer AR technology” (ZDnet).

What makes AR so effective is its unique ability to create personalized immersive interactions that build connections between brands and audiences.“The truth is consumers today crave education, inspiration, and entertainment before they buy” (The Future of Customer Engagement and Experience).

With its ability to enhance the entire consumer experience on social, AR has the power to drive brand awareness, improve purchase intent, increase viewing time, and increase sales.

Find out why AR is important to your brand’s future.

To capture the attention of today’s consumers, successful eCommerce strategies will include finding new ways to educate and entertain audiences on social media. “Social media is a digital shopping mall: a place where potential customers can discover new products, browse items, and make purchases, all in an interactive, social, and entertaining environment (Jasmine Enberg, eMarketer senior analyst at Insider Intelligence).”

Brands that utilize shoppable content such as AR will rise above their competitors. From enabling virtual try-ons, to enhancing fan interactions, to allowing personalized, sharable interactions with artists and characters, AR is the most effective conversion format on social media.

Consumers love engaging with visually arresting AR filters that immerse them in exciting digital environments on social. AR is the best way for brands to break through the noise, engage customers, and convert prospects

Find out more about how AR can help your brand connect with today’s consumers.

 

Download Camera IQ’s State of AR Report

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