Q2 2022 Digital Commerce sector update Qualitative insights into broader Digital Commerce trends and public and private valuations across the transaction spectrum, and interviews with today’s leaders transforming the sector. Important disclosures appear at the end of this report GP Bullhound Corporate Finance Ltd and GP Bullhound Asset Management Limited are authorised and regulated by the Financial Conduct Authority GP Bullhound Inc is a member of FINRA GP Bullhound Hong Kong Limited is authorised and regulated by the Securities & Futures Commission GP Bullhound Luxembourg Sàrl is authorised as an AIFM in Luxembourg by the Commission de Surveillance du Secteur FinancierTakeaways ? Growing adoption of AR is supported by increasing technological advancement and ongoing demographic shifts with higher AR usage among millennials and Gen Z AR ADOPTION IS GROWING, WITH E-COMMERCE PLAYERS LOOKING TO KEEP PACE ? Digital commerce giants are doubling down on investment in recognition of strong use cases ? Investment in AR could be key for digital commerce players to remain competitive. The technology is proven to improve customer engagement, reduce return rates and increas