VANCOUVER and TORONTO, Nov. 26, 2018 - NexTech AR Solutions (the “Company” or “NexTech”) ( CSE: NTAR ) (FSE:N29 ) is pleased to announce that it has released a beta version of its web enabled augmented reality e-commerce solution. With a web enabled AR solution, NexTech has eliminated the biggest friction point of AR, which was having to download an app to experience AR e-commerce. Over the next few weeks NexTech will be working with its partners to install its embed code into their websites and ARitize™ their products enabling online AR shopping.
Demo Video Link: https://youtu.be/iYbUFmUoJPs
According to Statista USA desktop e-commerce sales in 2018 will hit $344 Billion (61%) of the $550 Billion total with mobile growing to $206 Billion (39%) of e-commerce sales. Globally e-commerce is a $2.8 trillion-dollar marketplace with the majority of it done on desktop and tablet devices.
“NexTech’s web enabled AR e-commerce solution effectively addresses the entire global market for e-commerce on both desktop and mobile” comments Evan Gappelberg, CEO of NexTech. When we started looking at AR we immediately saw the wow factor and application for e-commerce but also saw a hesitation of consumers to load another app on their mobile device. With our web enabled AR e-commerce solution, we have eliminated that hesitation which we believe will open the floodgates to the rapid adoption of web enabled AR shopping experiences worldwide, this truly is a game changer".
AR has been rapidly scaling into the e-commerce landscape through early adopters like IKEA whose app lets you see the furniture in your house by overlaying a digital twin of the object in your living room. Also, by ART.com whose app lets you see a picture on the wall in your house to see how it looks. Alibaba, Starbucks, IKEA, Houzz and others have been adopting AR e-commerce because the results are increased consumer interactions and sales. Houzz reported that it gets 11X its sales conversion rates using mobile AR versus their standard app. So, a consumer is 11X more likely to buy a couch if they use AR to see what the couch looks like their house. These kinds of measurable results will continue to drive the rapid adoption of AR into e-commerce especially if no app download is needed.
“NexTech’s web enabled AR platform allows small and large e-commerce 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” comments Reuben Tozman, COO NexTech. Mr. Tozman continues “the biggest hurdle online customers face is determining whether a certain product is right for them. AR offers shoppers the confidence that will motivate purchasing decisions. AR provides users with an in-store shopping experience, regardless of their location. Our AR platform superimposes 3D objects in various spaces, giving customers a chance to interact with digital twins from the comfort of their own homes”.
NexTech is continuing to test and build out its AR e-commerce offerings which includes using AI to create a guided and knowledgeable curator who knows an individual shopper’s style, sizes and preferences, as well as AR holograms acting as personal shopping assistants.
About NexTech AR Solutions Corp.
NexTech is bringing augmented reality to the Cannabis market by turning 2D products into exciting 3D consumer experiences. NexTech is currently developing a proprietary and disruptive Augmented Reality (AR) advertising and education platform that uniquely engages by connecting brands and retailers through a fully immersive 3D AR experience called Native AR. NexTech launched its ARitize™ app in August 2018, which is capable of hosting many brands 3D objects and augmented reality experiences. NexTech also owns a large and diverse revenue generating App Portfolio that is deployed on the iTunes and Google play store which it intends to ARitize™.
On behalf of the Board of NexTech AR Solutions Corp.
" Evan Gappelberg "
CEO and Director
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Nextech AR Solutions Corp.