How Snapchat Can Disrupt Retail….
Just imagine yourself sitting at home sitting on your phone, flicking through the Nordstrom website and having the ability to try on any pair of clothes you desire. The one platform that could make that a reality is Snapchat with their Augmented reality (AR) and other innovative technologies they currently hold. A few other components like 3d mapping incorporated with AR and other technologies that allow consumers to size clothing through the mobile screen and we have a retail revolution.
Snapchat’s user base is growing ever so slowly, Instagram is flying and has added 200 million users to their platform since January. Snapchat is at 173 million daily users compared to Instagram’s 500 million users, In January 2017 Instagram was at 150 million daily users. Instagram has 2 Million advertisers on their platform. Snapchat is still working that maze out. Snapchat has the higher engagement rate amongst those between the age of 13 and 24 at 3O minutes a day, but it’s not enough. Facebook continues to slow down Snapchat’s growth by aggressively campaigning to markets outside the USA where Snapchat is vulnerable. Snapchat sold 150,000 spectacles, but has failed to meet financial earnings in the last two quarters. They have built several new features into the platform and are spending huge amounts of capital but the bottom line is suffering. Where to from here?
Another giant a few states away is also going through a hard time, yes you know them very well Walmart. Their industry was disrupted by a Book seller with a VISION! That has now become reality and leading the world as one of the largest organisations to exist and currently the second richest man in the world after Mr Ghates. It just comes to show you if you don’t move quick enough you can fall behind and get surpassed by a hungry lion.
Snapchat was one of the first when it comes to disappearing video content but now Instagram has more people using stories then snapchats whole platform. Technology is a fast evolving industry and if you don’t stay ahead you can get caught and fall behind a touch.
Anyway back to how Snapchat can help retail, so if you can currently have a rainbow in the room and face filters that cover your face with accuracy, why can’t we have our desired clothing from these larger retailers on our bodies in the comfort of our homes. Just imagine how many people who are very time poor and only buy things if they try them would jump on it and become serial shoppers. Speaking of a personalised experience, that’s as personalised as things get.
Retailers from all over the world would be keen for a chat, that would open a whole new world for “The Camera Company”. Just imagine the smile on Miranda Kerr’s face when Evan speigal break the news to her that she can shop and try on her clothes all from her living room. It’s ok to dream, I bet many thought the same when Jeff Bezos started selling books on this thing called the internet…..
Thank you for your attention!
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