The news: Snapchat announced a slew of new features and products at its Partner Summit last week, many of which centered on augmented reality (AR) and ecommerce:
Why it matters: For now, AR ecommerce is still new—just 10% of US adults said they’ve used AR to shop, and only 35% said they were interested, per an April 2021 survey by Bizrate Insights for Insider Intelligence. But as AR adoption grows, big players like Amazon, Walmart, and Pinterest have thrown their hats into the AR ecommerce ring.
Snap has a few major advantages over its competitors:
Key stat: When Snap launched the first version of its AR Spectacles back in 2016, just 7.6% of all US social media users (14.2 million) used AR, per our estimates. This year, we expect 22.7% of US social media users (48.9 million) to use AR.
The big takeaway: As social media companies chase ecommerce dollars and ecommerce companies chase AR experiences, Snapchat is perhaps the best-positioned to make AR shopping a central part of its platform.
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