Shopify Is Expanding Its Augmented Reality Ecosystem
Shopify (NYSE: SHOP) recently bought Primer, an augmented reality app that lets users digitally preview the effects of tile, wallpaper, and paint changes to homes, for an undisclosed sum. In a blog post, Primer said it was "excited to have the opportunity to realize" its "founding conviction of building immersive shopping experiences on a massive scale at Shopify," and will shut down the app on July 10.
It might seem surprising for Shopify, which provides self-service e-commerce services to smaller businesses, to buy an AR app. But it also wouldn't represent Shopify's first step into the nascent AR market, which could still grow at a CAGR of 48.6% between 2021 and 2028, according to Fortune Business Insights. Let's dig deeper into Shopify's AR efforts to see how they complement its business.
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