Over the years, Augmented Reality (AR) has defied all expectations and become one of the most sought after technology in recent times. With the public finally recognizing its disruptive power, AR has found its way in the business strategies of leading retail companies.
With the potential to become a 100$ Billion industry by 2025, AR in retail is set to revolutionize the process from enhancing customer experience to driving increased sales. Thanks to companies like Lacoste, American Apparel, Timberland, Lowe’s and any more, more than 70% of customers think that AR would definitely enhance their purchasing experience.
Even after such high demand, many retail owners are hesitant about implementing AR in their store/e-commerce platform. The lack of awareness regarding the multitude of applications is the number one cause for the above. Here we will try to briefly explain some of the ways in which one can use Augmented Reality in retail –
● Try products digitally through AR – AR gives the power to customers to create a digital experience in which they can try on a product without actually wearing it. There are two ways retail stores are doing this –
1. Using your phone screen and an application to see how a shoe would look on you.
2. By displaying your image reflection on a virtual AR mirror on which you could try on multiple clothes digitally.
Not only does this immersive experience helps you choose from hundreds of options available on the store but it also saves you a lot of time you would have otherwise wasted on finding and trying on the perfect apparel.
● View additional information about the product – Retail stores can use AR to provide additional information on a product to the customers by simply pointing their mobile device cameras at it. With just a single glance, the customer can view the product information, price, customer reviews, similar options and any offers on the product.
Gone are the days when you would have to run after the lazy customer assistant for arbitrary details. With AR in retail, you can easily have all the product information in hand. For retail owners, this would help them cut their in-house expenses and hence increase profit.
● Try on cosmetics with AR – Another segment which cosmetic retailers can use apply AR in their trial products is this. Using AR, a person can digitally try on multiple shades of cosmetics without actually applying them on. Not only these would save time, but retail owners would also be saving a fortune spent on samples.
● Guide your customers around the store – AR in retail can also do the wonders of mapping directions and guiding your customer to the exact location of the product inside the store. We all can relate to the problems of finding a product on our list all throughout the store, only to find it kept on the checkout counter.
There can be cases when the customer might walk out of the store if he does not find his required product, which may be hiding in a corner of the store. Now with AR In retail, you can guide your customers around till they find every product they need. Again, a time-saving procedure adding to the sales of the store.
● Try the product at-home – There are certain products such as furniture that need specific measurement to be able to fit in your homes. With AR, a customer can virtually place a product in their homes and decide whether to go with it or not.
Imagine the hassles you would have to go through to return that oversized cupboard you bought for your living room. With the help of AR, you can easily check its size, colour, dimensions, and everything before finally bringing it home.
● Promote your retail platform using AR – Whether you are a physical store or an e-commerce website, or both, you can use AR to promote your brand to the customers and increase sales exceptionally. Stores around the world have been using fun and innovative ways to engage their customers digitally using AR. And the returns on sales have been extraordinary!
For example, Airwalk used a combination of AR and geolocation to promote its limited edition Airwalk Jim shoes through pop-up stores. Not only had this driven user engagement, but the campaign also ended with Airwalk getting a whopping $5 million in earned media.
Benefits of using AR in retail
In multiple surveys, customers have stated that the introduction of AR would make their shopping experience more immersive and fun. But a number of retails owners have been hesitant in making such a change. They need to understand the benefits they will reap with the introduction of AR in retail –
● Increased sales and decreased cost of operations, both factors contributing to an increased profit margin.
● A happy customer will become a loyal customer. By micro-managing the customer’s needs in the store, the chances of a loyal and returning customer increases by many folds.
● Improve your stock according to the customer’s preference. Supposedly a customer searches for a product in your store via an AR-enabled app but does not find it. With the wonders of technology, you can notify the customer of its availability via the same app. Conversely, you can delete products that are unpopular among customers.
● Promote your brand/store/e-commerce platform with unique and fun marketing campaigns with the help of AR. A more immersive experience will drive new customers as well as increase sales.
Hence, AR is the way forward in technology. Make sure you climb on the early wagon to make full use of its potential.
Conclusion
Augmented Reality is definitely the way forward in retail technology. Having already proved its weight in Gaming and Marketing concepts, AR in retail is a concept waiting to reach its full potential. With so many big companies taking a shot at immersive concepts using AR, the shift has already begun. With continued positive results, AR will be in no time the express ticket for retailers to give their customers an enhanced shopping experience and in turn drive profit.
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