The news: Snapchat is attacking augmented reality (AR) ecommerce from both angles with two new partnerships this week:
How we got here: Snapchat has had AR since the advent of its Lenses back in 2016, but it’s increasingly focused on tying the tech to its ecommerce ambitions.
Look ahead: Snapchat’s push into AR ecommerce is something to watch for during its Q2 2021 earnings tomorrow. AR is Snapchat’s trump card against other social platforms—it’s one thing Snap does better than any of its competitors. Its location-based innovations and an update on how its TikTok clone Spotlight is doing are also things to watch for.
Zoom out: This quarter is likely to be a strong one—in fact, we predict 2021 as a whole will be Snapchat’s best since 2017 with ad revenues growing 45.6% to $1.82 billion. Last quarter, the company reported that revenue was up by nearly two thirds (66%) to $770 million.
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