Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: NTAR; NEXCF

Tech Firm Launches 3D Google Ads Platform
News Update

Source:

This is the latest in the company's efforts to create immersive ad experiences.

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.

[NLINSERT]

Disclosure:
1) Mario Santana compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with NexTech AR. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.




Want to read more about Technology investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe