Google is active with Google Lens . With Google Lens you can also do things like save a photo of a book and its summary and see reviews, read about an artist during a museum visit, find similar products and see where to buy them and more.
With Bing Visual Search it is even possible to search for a part of a photo. For example, if you have a photo of a beautiful living room, but you especially like that specific table, you can quickly find where you can buy it with Bing Visual Search.
Visual search via Google Lens.
Pinterest currently has over 600 million visual search queries per month. Google Lens has also been used over 1 billion times. Figures that will only continue to grow.
Despite the fact that this development is still in its early stages, it creates opportunities to be a leader in this area. Also considering the fact that in many cases the competition is still minimal.
Due to the operation of the internet, large parties are becoming increasingly larger and giants are expanding all over the world. The economies of scale on the internet are enormous. Companies that operate internationally have more data and often better access to both more talent and capital. The impact of globalization is therefore very noticeable and at the same time is only just beginning. Certainly in the coming years, there will be more and more competition from China.
Some data that support this picture:
On the last Singles Day in November, Alibaba achieved a qatar telegram data turnover of no less than 74.1 billion (!) dollars. More than 800 million customers bought something on that day. And more than 90% of all purchases are made via mobile.
WeChat has over 1.1 billion monthly active users. On average, they spend 30% of all mobile internet time on WeChat.
More than 2.5 million companies also use WeChat Work to communicate with (potential) customers. In addition, more than 50 million companies in China now use WeChat Pay to receive payments. On average, they now receive more than 1 billion payments per day.
Alipay and WeChat in store
Major players such as Amazon and Alibaba are also increasingly active in the Netherlands, so it is very important to look at how to deal with this. It creates opportunities, because these platforms potentially offer access to an audience of billions. But it also raises questions that do not have an immediate, clear answer.
latforms are so great that platforms will undoubtedly further expand their positions in the coming years. For advertisers, this brings both opportunities and major challenges.
