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Retailers are experimenting with generative AI (genAI) across various use cases, from personalized marketing to conversational search. But the strategic risks of being an early adopter of genAI versus waiting for established players to set standards remain unclear.

And then thinking about some of the new products and features and services that you've been rolling out recently, I'm thinking about Threads, for example, which is a new platform that was launched just over a year ago, there's also new devices like the Orion AR glasses, how do you maintain that consistency there as you're looking ahead? Alex Schultz (05:55):.

Time spent on media and consumer spending are plateauing, making one company's gain another's loss. Diving into these market dynamics, we explore innovative strategies for advertisers and retailers to win consumers in the new digital era.

TCL is showcasing its NXTPAPER 2-in-1 laptop featuring an innovative paper-like color display, as well as its RayNeo X2 AR glasses. Our take: Smartphone makers can take risks and showcase unusual designs and innovation at Mobile World Congress, which could help expansion across non-North American countries or regions with strict bans.

Brands can now sponsor their own AR effects and filters, which will foster user engagement in advertising. Microsoft used this resource to push its brand with a nostalgia factor, while Daft Punk tried it out as a fun way to push fan engagement. These ads are a little silly, but a viral filter could go a long way with user interest. Who cares? Brands willing to take a creative risk. Player: Microsoft.

To keep those shoppers coming back, retailers should invest in features like seamless payment, augmented reality, real-time inventory updates, and loyalty apps. Health, personal care, and beauty is outperforming all other categories. Consumers have continued to invest in beauty and wellness in the wake of pandemic-related restrictions.

Our forecasting team says that there are over 90 million Americans, nine zero million Americans, who use AR, 70 million use VR and 36 million have a VR headset. IDC was saying the worldwide AR headset market is planned to grow to 6 million by 2027. Apple had reportedly wanted to push 3 million in year one. Now, analysts say 200,000 is more likely.

They鈥檒l simplify mobile checkout through AR-based solutions and in-demand personalization services that surface the most relevant payment options for a given buyer. They鈥檒l also focus on the experience in browsers鈥攚here much of mcommerce occurs鈥攂y developing solutions like Marqeta鈥檚 latest tokenization tool, which lets retailers send customers a virtual card to use online in just a few clicks.

VR- and AR-enabled in-store technology will also give consumers new ways to test drive products prior to purchase. Better CX at the shelf will drive more conversions鈥攁nd minimize returns. Digital shoppers expect depth of product information and customer insights before making a purchase, and a failure to provide it at the physical shelf adds unnecessary friction.

Do you think that augmented reality will have a similar unlock with being able to visualize products? Sky Canaves:. It's a little bit hit or miss. I think Walmart acquired a virtual AR try-on firm a couple of years ago and it hasn't done very much with the technology, apart from being able to visualize clothing on different models.

More than a quarter of the US population currently uses augmented reality in some capacity according to our forecast, and a lot of that is taking place in stores. How can stores tailor these experiential and experimental tech opportunities to build a more robust customer profile? Arielle Feger:. I have a couple of thoughts on that.

That could include click-and-collect options, mobile apps that enable customers to scan and go, and AR and VR technology. Reduce friction points for better shopping experiences. Remove out-of-stock products from retail sites, enable one-click checkout for return customers, offer more options for delivery and click and collect, and make returns easier with prepaid envelopes or free in-store returns.

And they鈥檙e not just driving installs: Amazon, for example, recently partnered with AR game-maker Niantic to sell products related to Peridot and Pok茅mon Go. As mobile games diversify, brands have more opportunities.

More powerful mobile processors and network developments such as 5G are making mobile shopping faster and more secure than ever, while features including one-click checkout and augmented reality are removing frictions for people shopping on their mobile devices. Mobile payments are becoming easier.

They're also beta testing a Shop with Friends, which is an AR experience that allows shoppers to share a virtual outfit with their friend to gather their feedback before they purchase. So it's the AR version of, do these pants make my butt look big? Sara Lebow:. I'm less convinced about Walmart. They're doing a lot of stuff and I don't know if it's all going to pay off. Arielle Feger:.

Insurers will be better placed to engage customers and drive healthy customer behaviors through AR/VR-based challenges in the metaverse. Rewards linked to healthy choices can be offered in insurer-created tokens. Web3 could unlock new ways to search for and buy insurance. This could look like a decentralized platform that aggregates all insurance dapps, per Oliver Wyman.

Yeah, I guess I can't e-commerce get a full face of makeup until AR tech gets even better. Jeremy Goldman:. Which they're working on. Yep. Sara Lebow:. AR tech that can come directly to my face. Okay. Zak, why don't you tell us another potential winner for this year's holiday season? Zak Stambor:. Yeah.

I think out of the innovations that might prove the most fruitful for Snap is its AR technology. And as it's been pitching Snapchat as a messaging platform, it has been pitching Snap overall as a technology company. And those off-platform augmented reality ambitions are a really big part of that. All of that said, these are things that are in the future, down the line.

And with augmented reality, you can see your pace, how fast you're going, your respiratory rate and so on. Your heart rate. And people are just so into self-quantification now. Marcus Johnson:. So it could be a killer application in the wellness space, potentially. Lisa Phillips:. Yeah, to start. Yeah, for sure. And the price, it's supposed to be maybe under $3,000.