What is rich snippet in SEO?

It is used to make user to understand what about this web page in search result.
It is used to increases your CTR(click through rate) in search result page.
 
Rich snippets are additional pieces of information that the search engine is able to identify on the page, used to enhance the searcher's understanding of the value of that page. Ratings, pricing, and availability are commonly seen in ecommerce rich snippets.
 
Rich snippets facilitate websites to communicate with search engines in a different way.
They consist of structured data that allow search engines to see different types of content on your site.
These structured data markups, i.e. rich snippets, display supplemental “sneak preview” information about your site.
 
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