NexTech AR Solutions [CSE:NTAR] [OTCQB:NEXCF]: Democratizing AR Tech in Retail E-Commerce
Initially, Vacuum Cleaner Market saw a drop in its revenue generation due to the lack of an in-store experience. Just like James, many prefer to buy from brick-and-mortar stores. However, according to the CEO of Vacuum Cleaner Market, using AR technology to assist potential buyers in making purchase decisions has been immensely rewarding. After integrating AR, the company witnessed a 30 percent increase in dwell time, while sales grew by 300 percent in one week. The ‘deus ex machina’ that helped Vacuum Cleaner Market achieve this remarkable feat is NexTech AR Solutions[CSE:NTAR] [OTCQB:NEXCF].
Only a year old, NexTech has already proven itself as a unique force-multiplier for e-commerce optimization. The main friction point of AR implementation has been limited access to the technology for e-commerce and e-learning. NexTech addresses this by democratizing AR solutions. Evan Gappelberg, CEO, NexTech, says, “Implementation of AR facilitates a seamless transaction between customers and businesses. And our goal is to make AR technology available to masses by democratizing it.” Another long-standing myth that NexTech debunks is the need for mobile apps to experience AR.
Implementation of AR facilitates a seamless transaction between customers and businesses. And our goal is to make AR technology available to masses by democratizing it
AI and predictive analytics are two of the key differentiators for NexTech. Through AI, the AR solution helps customers find products more efficiently while predictive analytics aids customers by offering them custom purchase suggestions according to their shopping pattern. Simultaneously, the solution’s experience API (xAPI) presents businesses insights into the features of AR that users access the most, including when and where. Additionally, to go the extra mile and meet customers’ specific business requirements, NexTech provides customization that lets customers choose the type of AR technology they want to use along with the analytics and dashboard as well.
In the global marketplace, currently, the growth of AR technology is at 8 percent CAGR with the projected market value of a staggering $209 billion in 2022. Touted as a fast mover in AR technology, NexTech has already started integrating IBM Watson’s machine learning (ML) algorithms into its AR platform. This will help NexTech offer more features like AI chatbots, facial recognition, body scanning, as well as holograms that know customers’ likes and dislikes. Simultaneously, NexTech is focusing on the integration of AR with e-learning, live demo, and telepresence to expand their market. NexTech’s roadmap and the market predictions currently make the company a perfect choice for businesses that want to leverage AR/VR technology to stay ahead of the competition.