Augmented Reality (AR) by 2020 is expected to generate $122 Billion dollars of revenue within the Retail Sector. The technology is advancing beyond the “Fad” or “Gimmick” phase and is beginning to show utility to customers. Advances in technology have sped us this adoption.
AR has real utility if it can enhance the customer experience and make the shopping experience customised and easier. Take the IKEA Place app allows you to place their furniture in your house to see how it will look, or Ultra Beauty who allow you to try makeup without having to apply and wipe it off and Dulux with the Dulux Visualizer App will let you see what your walls will look like with a new coat of paint and a new colour.
Measuring the effect of AR in Retail has shown that 61% of shoppers prefer to shop at stores that offer AR (https://www.shopify.com/retail/how-these-retailers-are-using-augmented-reality-to-enhance-the-customer-experience) this also translates into 40% of those customers that would pay more for the products if they experienced them through AR.
The opportunities to expand your business and retail offering to your customers is endless. The effort put into increasing the customer experience will definitely be rewarded by more frequent customers who are willing to return and spend more.
How will you transform your retail experience using AR to enhance or provide more value to your customers? Have you thought about using AR within your business?