NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) started offering three-dimensional and augmented reality (3D/AR) ads to brands and online retailers that advertise on the Google Ads platform, the company announced in a March 14 news release.
The announcement came a month after it started offering the same 3D/AR advertising solutions to brands and retailers marketing their products on Facebook.
"NexTech continues to build out the AR industry's first end-to-end platform for both brands and online retailers looking for 3D AR/AI business solutions," the company highlighted.
Three-dimensional/AR ads provide consumers the ability to review an item for size, shape, color and fit before making a decision of purchasing it and, thus, they can reduce returns for online retailers.
Brands and retailers can publish the 3D/AR ads "from the same assets utilized to create Web AR images with no additional work required, other than building the ad itself," NexTech further explained.
The company claimed that 3D/AR ads from the Sketchfab platform "show a 633% increase in sign-up conversions and a 376% increase in click-through rates" when compared to traditional static ads.
Quoting a 2018 forecast, NexTech noted that digital ads "will account for 50% of total e-commerce ad spending by 2020, at more than $357 billion." "NexTech, through its continued push for innovation, is well-positioned to grow alongside the largest ad platforms in the world," the company noted.
NexTech also quoted a report on internet advertising revenue that concludes that the global digital advertising market grew 21% to $88 billion in 2017, with Facebook and Google contributing to 90% of the growth.
Other research quoted by NexTech projects that retail e-commerce market would reach $4.8 trillion in 2021. Further research "has shown that 40% of online shoppers would be willing to pay more for a product if they could experience it through AR, while 71% of shoppers indicated they would shop at a brand more often if it offered AR experiences," NexTech added.
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