WebAR revenue can cross your 9-5 salary

Hi again 👋

Happy Saturday to 390 motivated XR enthusiasts.

This week's newsletter will focus on how you can sell WebAR as a service to the most digitally demanding domain and make a steady revenue stream out of it. 

Today's issue will take about 2.5 minutes to read. 

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19 E-Commerce Stats that shows it's ready for AR in 2022

1. There are 2.14 billion online shoppers worldwide

2. Only 2.17% of E-Commerce visits convert into purchases

3. E-Commerce accounts for 18% of all retail sales

4. Amazon was expected to account For 50% of all retail sales in 2021

5. E-Retail sales are projected to grow to $5.4 Trillion in 2022

6. 61% of online retail traffic comes from mobile

7. 68% of online shoppers search a product on Google before purchasing

8. Fashion shoppers view 32 pages before making a purchase

9. Shoppers value in-stock availability and fast delivery most

10.3D product images increase conversions by 250%

11.Digital & Mobile wallets account for 45% of E-Comm payments

12.Popups in E-Comm converts at 4.76% on Average

13.Popups with two input fields outperform all others

14.Mobile popups convert at 5.8% on average

15.The average cart abandonment rate is 69.80%

16.49% of shoppers abandon their carts because of unexpected extra costs

17.Abandoned cart emails have an average open rate of 45%

18.Three-quarters of repeat purchases are made online

19.Fastest-growing E-Comm Niches of 2020 were Disposable Gloves & Bread Machines

7 Tips to Boost E-Commerce conversion by 90% or more

1. A standard AR ad might cost nearly $5k-$10k
But WebAR ad costs lesser as compared to print media ads

Use WebAR advertising more to attract customers

2. Ad campaigns designed on AR have a dwell time of about 75 seconds on avg.

Traditional promotional campaigns on TV or radio have a dwell time of only 2.5 seconds on average

3. Around $18.8 billion has been invested in the AR industry in 2020

There has been a 78.5% boost in investment in 2020 as compared to 2019

4. Give consumers the opportunity to visualize products in their space

9 in 10 medium-sized brands are using augmented reality to power their business (Deloitte)

5. Reduce Language Barriers with virtual 3d try-on experience

40% of customers state would pay more for goods if they could customize them in AR (ThreeKit)

6. 1% of global retailers were using AR back in 2020 – but it's growing sharp

$337B is the estimated market value for only the AR automotive industry by 2025 (Statista)

7. Stand Out From the Rest

Nearly 7 out of 10 media planners and buyers are interested in AR ads in their digital campaigns

Which Business Model You Should Follow to Sell WebAR as a Service?

E-Commerce sites normally have a big product catalogue. This means you have the opportunity to take order for supplying many 3D assets for their product base. This will earn you one time cost for each 3D asset development.

On top of that, hosting them in WebAR platform comes with a subscription and support cost on a monthly basis. For enterprise grade e-commerce sites, if the monthly AR visits are higher, you can easily enjoy a significant stable montly revenue source.