Augmented Reality for Retail

The Potential of Augmented Reality for Retail

Physical retailers have been devastated by COVID-19, and they must now recover. The constantly mutating virus has created fear in individuals, and they desire to avoid contact as much as possible. Also, brick-and-mortar stores must find ways to attract and keep customers so they stay in the store as long as possible.

The technology of Augmented Reality (AR), which combines interactive visual and computer projections with the real world, is growing. As software developers continue to perfect augmented reality apps, the distinction between the virtual and the real becomes increasingly hazy. According to Statista, the size of the worldwide AR market is projected to reach $198 billion by 2025. AR will become a reality in the near future. Augmented reality has many uses, such as in games (like Pokémon Go), education, healthcare, space, travel, real estate, marketing, and more.

Retail is one of the businesses that AR is disrupting. Retail companies that utilize Augmented Reality are more likely to provide a superior consumer experience. According to BRP's Digital Commerce Survey, 48% of consumers are likely to purchase from augmented reality (AR) merchants. So, how may Augmented Reality increase retail sales and transform the retail industry? Learn this and AR retail use cases currently.

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Virtually all appropriate products are viable.

Businesses can advance consumers in the sales funnel with Augmented Reality. AR allows buyers to virtually try on things. This eliminates retail visits. Well-known stores that offer makeup, clothes, shoes, and other wearables employ Augmented Reality.

Most individuals are more likely to spend money on items they have personally evaluated. Therefore, AR is effective for firms seeking to expand their online market presence. L'Oréal is an example of a brand that uses AR for this reason. Through its Makeup Genius app, L'Oréal allows users to virtually try on several hues of makeup and even mix products to see how they appear before purchasing.

Home Visualization

It's hard to see how a table or sofa will fit in your home while shopping. Here, enterprises may see AR's sales influence. AR lets buyers view items at home before buying.

The IKEA Place app lets customers visualize furniture in their homes in 3D. Others (by Shopify) are Amazon AR and Magnolia Market.

Virtual Dressing Rooms

Customers hate changing rooms during busy seasons. In rare cases, shoppers may purchase a product and try it on at home before returning it. People may not buy owing to changing room lines.

Augmented reality can help. Virtual mirrors in businesses let customers try on clothes without actually putting them on. Timberland lets clients try on items in virtual fitting rooms.

Product Information Accessibility in Stores

58% of shoppers use mobile devices in stores to look up product information. 54% of smartphone owners compare pricing. There's always information purchasers can't ask salespeople. AR fills this gap. Using AR, mall retailers can display product descriptions, color and size options, customer feedback, prices, etc. Example: American Apparel's AR app. This programme lets users scan store signage for reviews, pricing, and color options.

Increasing brand recognition

In addition, augmented reality is being used in advertising campaigns for brands to boost participation, media coverage, and social media buzz. It's a tried and true strategy for spreading one's company's name and attracting new customers. As a result of the widespread adoption of augmented reality, print ads, posters, and store signage are becoming more visually appealing and interactive for consumers. Ads enabled by augmented reality technology were installed at a London bus stop by multinational corporation Pepsi as part of its brand awareness campaign. Both The Verge and Forbes wrote about the change, and the accompanying film on YouTube has amassed over 8 million views. Other brands which come to mind are Airwalk and Moosejaw.

Wrapping It Up

Just a few ways in which augmented reality is changing the face of retail are the ones listed above. Over a billion people are predicted to utilize AR by 2022. It is expected that the marketing, eCommerce, and gaming industries will be the most affected by AR in the future. Data from the retail sector suggests that AR will enter the mainstream within the next three years. When augmented reality is used to improve the shopping experience, both customer satisfaction and sales go up.

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