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Be the first with the news that moves the market- Augmented reality developer NextTech (NTAR) is seeing record sales and traffic from its ecommerce platform this holiday season
- During Black Friday this year, sales more than quadrupled on NexTech’s AR ecommerce platform, when compared to last year
- Website traffic also saw a marked increase, up 450 per cent on 2020’s average daily traffic
- The sales boom comes ahead of a new AR/3D update for the platform, which is scheduled for the first quarter of next year
- NexTech AR is up 10.61 per cent and is trading at C$7.09 per share
Augmented reality developer NextTech (NTAR) is seeing record sales and traffic from its ecommerce platform this holiday season.
A bumper Black Friday haul was expected across all industries this year, as previously tight spending under the pandemic begins to the loosen, amid growing hopes of an earlier-than-expected vaccine.
Nevertheless, it appears NexTech sales on its AR ecommerce platform have outdone the online-wide upturn to more than quadruple when compared to last year. Website traffic also saw a marked increase, up 450 per cent on 2020’s average daily traffic.
Evan Gappelberg, CEO of NexTech AR, said he was thrilled to see the company’s AR eCommerce operations breaking new records.
“The pandemic has pushed everyone to become more demanding with their online purchases – we all want to get a better sense of what we’re purchasing, we want to experience the items in our homes before we purchase them, which is exactly what AR does,” he added.
Meanwhile, Feras Abutaha, VP of Operations at NexTech, believes the company is only scratching the surface on the potential of AR in this space.
“Moving forward into 2021, our team at NexTech plans to bring AR to the forefront, making it accessible to the masses and becoming the new industry standard for eCommerce much like Apple did with the iPhone in the consumer technology space,” Feras continued.
The sales boom comes ahead of a new AR/3D update for the platform, which is scheduled for the first quarter of next year.
The increasing ecommerce sales follow an impressive year’s trading for NexTech shares, which have successfully shrugged off a global recession under the pandemic to now be up more than 230 per cent on their price in January.
In trading today, NexTech AR is up 10.61 per cent and is trading at C$7.09 per share at 2:41pm EST.
