SEATTLE, Feb. 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing NexTech AR Solutions Inc. (CSE: NTAR) (OTC: NEXCF), and how the company’s augmented reality is transforming the fashion industry.
The $2.4 trillion fashion industry has always been a hotbed for both aesthetic and technological innovation. With its relentless focus on innovation, it’s not surprising that the industry would be an early-adopter of augmented reality, or AR, technology, which revolutionizes the way that consumers interact with brands by seamlessly blending real-time surroundings with animated design.
Three-quarters of Americans prefer augmented reality experiences over video content for shopping, gaming and entertainment, according to Vertebrae. While only 20 percent of consumers have experienced AR-powered shopping, the firm found that consumers overwhelmingly indicated that they would prefer to use AR technologies to help them with purchasing decisions.
With limited adoption thus far in ecommerce, the unique AR experience enables fashion brands to showcase their forward looking principles, create a fun and interactive experience, and ultimately increase their ecommerce conversion rates and sales.
Early Pioneers See Successes
Gap Inc. became one of the largest company to enter the AR space with Dressing Room. Using a Google Tango-enabled device, users can use the app to customize an avatar based on their body type and see how different pieces of clothing look at different angles. Customers can then purchase the clothing directly from the app, creating a seamless shopping experience that could help boost revenue.
LVMH’s Sephora also introduced Virtual Artist in conjunction with ModiFace to let customers try on various makeup shades and combinations using their front-facing camera. The app has been downloaded by tens of millions of users and undoubtedly helped increase the company’s revenue. It also became one of the first AR apps to move outside of the clothing fashion space and into the beauty space.
Finally, Wanna Kicks and Tenth Street Hats are two other examples of smaller companies using AR technology to let customers see how accessories would look before purchase. The latter company found that conversion rates increased by one-third when they introduced AR features, which underscores the potential that augmented reality solutions have within the rapidly growing ecommerce industry.
Plug-and-Play for the Masses
NexTech AR Solutions Inc. (CSE: NTAR) (OTC: NEXCF) recently launched its Try-It-On augmented reality experience to solve these problems. Using its patent-pending web-enabled AR ecommerce platform, fashion brands can provide a realistic experience that enables customers to see what they would look like wearing glasses, headwear, jewelry, and other products that appear above the shoulder.
“One of the most significant pain points that remains in online retail for a consumer is the inability to try something on before they buy it,” says NexTech CEO Evan Gappelberg. “This often leads to frustration, the ordering of incorrectly sized items, and unnecessary returns that are costly to the retailer. NexTech's new Try-It-On AR technology eliminates the issue by enabling retailers to offer a virtual fitting room to their consumers.”
Unlike many expensive app-only solutions, the company’s solutions are web-based and can be deployed with a few lines of embedded code within an existing ecommerce website. The company charges a low monthly subscription fee for the service, targeting thousands of small businesses that don’t have the budget or know-how to develop in-house AR technology—that’s a massive potential market for a plug-and-play solution.
You can try out the new technology on NexTech’s demo website.
Looking Ahead
There’s no doubt that the fashion industry will continue to embrace augmented reality, particularly given the proven benefit on conversion rates. With more and more consumers demanding the technology, it could eventually become a default option.
NexTech AR Solutions Inc. (CSE: NTAR) (OTC: NEXCF) is positioning itself at the center of these trends with a drop-in, low-cost, high-return technology solution for small- to mid-sized fashion brands that can’t afford to develop in-house technology.
For more information, visit the company’s website or download their investor presentation.
Please follow the link to read the full article:
https://www.cannabisfn.com/how-augmented-reality-is-transforming-the-fashion-industry/
You can try out the new technology on NexTech’s demo website.
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