Also known as social shopping, social commerce uses social media to sell products (like purchasing something advertised on Instagram without ever needing to leave the app). It represented a global market of about $89.4 billion in 2020.
Social Commerce VS E-Commerce
Currently, the leading market for many industries, E-commerce, derives directly from the seller’s website. But social commerce, coming in at a close second, allows sales to happen through both social media channels and seller’s websites, transferring the online shopping process to channels where potential customers already spend a large amount of time.
Why Social Commerce?
Gen Z and Millennial customers have clearly shifted from Facebook to short-form video platforms like YouTube, TikTok, Snapchat, and Instagram: 91% of them now want interactive or visual content, and internet video traffic is expected to have a 33% CAGR increase over 2017-2022. Technologies like progressive web applications (PWA) and the materialization of 5G are strengthening the trend. Social commerce allows customers to share their purchases with their friends and interact with their favorite brands, making the online shopping experience as interactive as they now expect it to be.
Getting Started With AR Commerce
Augmented reality (AR) allows customers to virtually try out everything from makeup to furniture before their purchase: 3D models show products at accurate size and scale, increasing brand confidence, and revolutionizing the shopping experience. Opportunities for AR commerce keep growing, with possible social, web, search, and in-app implementations. Even Facebook is planning to introduce AR ads to enable 3D product experiences across its apps.
AR For Home Design
Nothing compares to visualizing what a new sofa will look like in your home, whether its color matches the carpet, and if its size allows for a side table. Trying out 3D models in real-world environments promises high-yielding potential for interior design, furniture manufacturing, and home renovation. AR will enhance interior designers’ project presentations in a way unparalleled by screenshots or videos. Manufacturers will be able to showcase models of their products inside real interiors and give customers the ability to try them in their own house. Similarly, the technology could prove critical for assessing home renovation projects at-scale within the walls of your property.
AR For Virtual Try-On
With a simple camera-equipped device, virtual try-on technology will allow customers to try and visualize any product’s color, style, size, and fit before purchasing. Using face tracking algorithms to map face features, 3D rendering engines then display the AR filter over the consumer, creating a professional effect that will convince even the most critical potential buyers.
Navigating Physical Stores with AR Wayfinding (Lightmap)
While it is still hard to imagine the world post-Covid-19 as we battle the pandemic, wayfinding technology has provided us with new ways of imagining the future. The technology directs customers with directional prompts overlaid onto real-world settings. Untitled Project is leading the way in using AR for increased customer engagement and safety. Launched Q4 2020, Lightmap is a comprehensive wayfinding system that is highly customizable and includes:
- Indoor A–B Wayfinding: To navigate from point A to point B as quickly and efficiently as possible.
- Find My Family: To locale fellow users rapidly and safely in busy environments.
- Covid Safety: To avoid high-traffic areas, busy, and potentially dangerous areas.
- Near Me Now: To locate nearby offers related to users’ interests.
- Voice Search: To search for products, people, and services using voice commands.
- Send Lightmap: To create custom lightmaps, leaving a trail for others to find the user.
