29 Jul Mercado Libre's Money Catalogue
Scan your bills and find out what you can buy. Mercado Libre challenged the idea of using e-commerce only for buying expensive gifts. Teaming up with Facebook, the retailer developed an augmented reality filter that recognised Colombian bills and displayed the most relevant items the user could buy with that sum. Individuals will be able to scan their cash using their cellphones and discover their exact worth in Mercado Libre, facilitated by an algorithm from Facebook. This new platform will also increase the cash monetary value and allow access to better products in the online catalogue.
Catalogues can be boring. With this idea, Mercado Libre managed to tap into customers who otherwise would not have considered browsing through its new products, and managed to overall engagement with its customers, and finally succeeded in increasing sales of those products which were generally neglected. The project is a great example of how AR is becoming more and more seminal for enhancing e-commerce experiences.