“Let’s go for shopping”, this could have mixed expressions based on the subject of shopping. Typically, when it’s about grocery shopping, people feel it quite boring one. When it comes to buying lifestyle products, then an altogether different excitement is in the air.
Regardless of online or offline, augmented reality (AR) has started reforming the retail market by injecting immersiveness into the industry domain. Now, the shopping becomes interactive. The technology brings the real and virtual world together in order to create a more realistic view of products/services. Today, brands are moving ahead to develop an augmented reality shopping app to enable customers with the amazing in-store experience.
Witnessing the incremental adoption of augmented reality, Zion Market Research has predicted the growth of AR at a global level.
Global demand for augmented reality market was valued at around USD 3.33 Billion in 2015 and is expected to reach approximately USD 133.78 Billion in 2021, growing at a CAGR of slightly above 85.2% between 2016 and 2021.
Let’s dive into some interesting facts that how arguments reality is affecting the in-store experience of the visitors. It seems like the technology will become a revenue driver for the retail industry in the upcoming time.
Impact of Augmented Reality in Retail
Adoption of AR can be a game changer strategy for retailers to improve brand awareness across online and offline platforms. Launch a breathtaking marketing campaign by harnessing the brilliant capabilities of augmented reality and encourage the customers to visit the store. Offering a 3D overview of the products, store owners can entice customers to try out the product.
61% of shoppers prefer to shop at stores that offer augmented reality over ones that don’t
– Retail Perceptions
I guess above number is enough to give a reason why store owners should consider retail augmented reality. The technology aids retailers in increasing store visits, improving the sales, and generating the immense profit.
LEGO is the best example of who owns AR powered mobile application and kiosks that improve the in-store actions and experience of the visitors.
LEGO Mobile Application
LEGO In-store Kiosks
Create Immense Customer Engagement
A business transforms into a renowned brand by spreading awareness across the target market. Retailers can easily drive the new visitors to their stores. Using augmented reality shopping app, they can engage the visitors for a long time by offering them exciting and fun experiences.
Injecting videos or 2D/3D animations on various products available in the store, retailers enable customers with the fun and pleasant experiences. People love to gain additional information in an immersive form and watch the content again and again. AR establishes a strong bonding amongst brands and visitors. However, it’s not guaranteed that the visitors will convert into customers. But by providing them with memorable experiences, retailers can at least receive a few references.
Try Before You Buy
These days, people are not only conscious about the quality of product but also they want to try it before making a purchase. It helps them in getting a better idea of how it looks in real-time. Undoubtedly, augmented reality can nail it by combining real and virtual world for them.
One of the best augmented reality retail examples is Uniqlo, a Japan-based retail company. They adopted the technology in 2012 in order to enable store visitors with best in class experience. Uniqlo deployed augmented reality in trial rooms to improve customer engagement. They set a mirror with LED screen that allowed visitors to choose and try the apparel of their choice. The AR solution permitted customers to overlay different clothing and made a perfect buying decision.
Conversion from Visitor to Client
Increased sales and improved ROI are the ultimate objectives of every business. Offering exclusive retail augmented reality experience to the visitors, store owners can improve their willingness for in-store purchase.
40% of shoppers would be willing to pay more for a product if they could experience it through augmented reality
– Retail Perceptions
Above statistic clears that introducing augmented reality in the stores, retailers can see a remarkable improvement in sales numbers.
American Apparel developed an augmented reality shopping app and AR platform that allowed users to scan the products available in the store. Visitors checked out additional details of the respective products such as a variety of colors and sizes, customer reviews, available stocks, etc. The extra information helped customers in making the best choices. Also, it drove more engagement and sales for the brand.
Earn Consumer Loyalty
One time sale is a bit easier. But, getting a loyal customer base is a big challenge for every company. Facilitate visitors with extremely engaging, exciting, and personalized shopping experiences in order to earn customer loyalty. With the retail augmented reality, loyalty programs become more mature and insightful. Retailers can track consumers buying patterns, design tailored strategies for everyone, and enable them with customized offerings.
Walgreens, a second largest pharmacy store chain in the USA, is one of the great augmented reality retail examples. They developed an AR application that helped the store visitors to explore more products and in-store promotions. The app contained loyalty points and also guided the customers how they can gain those points through the gamification process. Thus, consumers received the discounts and rewards on the products they were looking for.
Augmented reality is changing in-store shopping journey of the customers through immersive experiences. Innovative experiments with the technology are opening up incredible business opportunities for the retailers.
Bevond loves to help you in shaping out your dream of having a robust retail augmented reality SDK or mobile application. We promise to build and deploy avant-garde AR products to deliver awesome in-store experiences to the visitors during their journey within the store. Owing to a white-labeled product, we help brands in creating more powerful and effective marketing campaigns for their products or services. Team Bevond helps organizations in engaging the customers by offering them out-of-the-box experiences.