Syed Imran Haider 
Snap has expertise in AR because of Filters and Lenses. It recently unveiled AR Enterprise Services or ARES to provide businesses with those tools. Snap will offer a Shopping Suite to brands as a part of the launch, aiming to help them reach more customers.
The company believes over 250 million individuals use AR on social media platforms. Snapchat owns 375 million regular active users, whereas it claimed that users have shopped AR lenses over five billion times since 2021. It did not reveal an updated number yet.
On the other hand, Snap’s partners, including Flipkart and Amazon, utilize AR lenses to allow individuals to try on numerous accessories and apparel. SaaS – the new Shopping Suit has four features, including footwear and accessories, 3D viewer, fit & sizing recommendation, and AR try-on to try new clothing styles, and enterprise manager to manage all digital assets.
Users can produce AR experiences via Snap’s SDK and check out performance analytics. Snap’s teams are also available to provide customized help to clients. The social media platform allows companies to integrate these features into their official websites or apps to enable customers to get engaged while exploring products.
Snap Built AR Features
The social media network has been involved in building enterprise tools for a long time. In 2021, Snap took over a startup known as Fit Analytics that enabled customers to find the right size of footwear and apparel from online shops. It included more commerce-related features in its AR Lens creator studio.
Last year, Snap unveiled new tools for simulated try-on and let users convert images into 3D assets. The company made these possible by acquiring Forma and Vertebrae. It also rolled out a back-end service named the Lens Cloud for lens makers. The company has combined this in an exciting package for enterprise customers.
According to Jill Popelka, Snap’s head for AR Enterprise Services, the company has worked hard to bring personal and fun-filled AR experiences to Snap chatters over the last ten years. It anticipates taking its world-class AR technology to enterprise sites and apps in the next decade. Snap looks forward to bringing a more delightful experience for consumers and transforming global businesses around AR Enterprise Services.
The SaaS has already in the testing process, which Snap began with some consumers. These comprise a clothing company – Princess Polly, a Mongolian manufacturer – Gobi Cashmere, and Goodr, a sunglasses merchant. Snap said these businesses observed higher conversion rates, lower return margins, and more enhanced engagement with products.
Monetization Strategies
In 2022, the Q4 results for Dnap highlighted that its revenue was consistently flat, while Snap registered a net loss, comparing it to a profitable quarter in 2021’s Q4. The social media platform has taken steps to return a cash flow with numerous monetization strategies. It rolled out the Snapchat+ subscription plan last June and managed to have over two million paid users.
Snap is floating about what it offers for enterprise consumers. It found a 92 percent of Gen Z users looking for AR shopping features are more comfortable than others.
