Augmented reality (AR), which involves blending interactive visual and computer projections into the real-world environment, is evolving. As software developers continue to refine Augmented reality applications, the line separating virtual reality and real-life is becoming blurrier. According to Statista, the global market size of AR is estimated to reach $198 billion by 2025. Sooner rather than later, AR will be the reality. Augmented reality trend is being implemented in gaming (e.g., Pokémon Go), education, healthcare, space, travel, real estate, marketing, among many more.
One of the industries that AR is shaking up is retail. Augmented reality used in Retail is more likely to offer better customer in-store experience than those businesses that don’t use this technology. How can augmented reality improve sales in the retail industry and shape it? Learn this plus AR use cases for retail currently.
Augmented reality marketing helps businesses move customers along the sales funnel. By creating an augmented reality store, a brand can enable customers to try on different products virtually and bring the in-store experience to a higher level. It thus eliminates the need to visit the store in person. This application of augmented reality in retail can be seen in popular stores that sell makeup, clothes, shoes, and other wearables.
Most people are more willing to spend money on things they have tested on themselves. Therefore, augmented reality brand experience works well and allows them to increase their presence in the online market. An example of a brand that uses AR for this purpose is L’Oréal. Through its Makeup Genius augmented reality shopping app, L’Oréal customers can try out different shades of makeup on their faces in virtually and even mix different products to see how they look before buying.
Knowing how a table or a sofa will fit in your home when you are buying it in person at a store is almost impossible. And here is where businesses can see AR impacting online shopping. Augmented reality shopping offers customers a way to see products at home before purchasing them.
The most famous example of this augmented reality shopping app is IKEA Place, which allows customers to preview how furniture will look in their homes in 3D. Other examples include Amazon AR and Magnolia Market (by Shopify).
For many shoppers, fitting rooms are a nightmare, especially during busy seasons. In some cases, customers prefer online shopping, buy an item and try it at home only to return it due to a poor fit. Other times, they might choose not to buy because of the hassle lining up to use the fitting room.
The augmented reality shopping experience can solve this problem. By incorporating virtual mirrors in retail, customers can see how outfits look on their bodies without actually trying them on. Timberland is an excellent example of a brand that offers virtual fitting rooms where customers can try out outfits for their collections without wearing them.
According to new statistics, approximately 58% of customers use their phones to search for product information while in a store. 54% use their smartphones to check and compare prices. There is always some information that potential buyers can’t ask sales assistants.
However, AR can fill this gap. Using augmented reality shopping mall retail stores can provide important details like product description, color and size options, customer reviews, prices, etc. An example of this AR use is the American Apparel AR app. This app lets customers scan in-store signs and get information on the product, including reviews, pricing, and colors.
Augmented reality is also in use in brand marketing and advertising campaigns to create more engagement, press coverage, and social media buzz. It’s already a proven way of increasing business reach. By using AR, brands are making their print ads, posters, store signs, and other ad materials more appealing and interactive. A big company that uses AR in its brand awareness campaigns is Pepsi, which placed AR-powered ads at a bus stop in London. The move enjoyed press coverage by The Verge and Forbes while its video garnered over 8 million views on YouTube. Other brands doing the same include Airwalk and Moosejaw.
These are just a few examples of how augmented reality trend is affecting and shaping retail. By 2022, it is estimated that there will be 1 billion AR users. Marketing, Ecommerce, and gaming are the three industries expected to see the most impact from augmented reality software in the coming years. Augmented reality retail statistics show that this technology will become commonplace in the next couple of years. By improving online shopping experience with life-like visuals created by AR, customer satisfaction as well as sales increase. If you want to implement this innovation and amaze your clients with augmented reality brand experience, contact our team to find out more about AR apps specifics now.