Retail or retail is among the major sectors to witness a radical transformation thanks toAR (Augmented Reality).
The success is due in large part, but not only, to active user involvement with technology that enhances the user experience in all areas of application.
We explore, including through some case studies, the current advances and applications of augmented reality and the prospects for its development in the retailsector.
Sommario
- 1 Retail and AR: a successful marriage
- 2 Importance of AR in Retail and eCommerce
- 3 With AR, it improves the shopping experience
- 4 Applications of AR in Retail:
- 5 Integration of AR in Physical Stores:
- 6 Retail: the top 5 applications in augmented reality
- 7 Retail: emerging trends
- 8 Benefits of AR in Retail
- 9 Growth of the Augmented Reality Market in Retail
- 10 Adoption by Consumers and Retailers.
- 11 What it means to rely on Intelligent Assisted Reality technologies.
- 12 REQUEST A NO-OBLIGATION DEMO
Retail and AR: a successful marriage
The overlay of digital content with the real world is literally revolutionizing the shopping experience and increasing the interaction between customers and products.
Consumers, thanks to augmented reality devices, can visualize and personalize products before buying them and thus obtain more accurate information about them.
Importance of AR in Retail and eCommerce
Asonline shopping increases, potential customers are looking for experiences that can replicate physical interaction with products.
AR addresses this need by offering “try before you buy” functionality, allowing people to virtually visualize how a product fits their needs.
This not only improves customer satisfaction, but also strengthens trust in the brand, leading to increased sales.
Credits: scnsoft.com
With AR, it improves the shopping experience
According to ScienceSoft, a U.S. Corporation for the third consecutive year among the leading companies in the Financial Times rankings, integrating AR solutions in retail can boost sales, strengthen customer loyalty, increase brand awareness, reduce returns and staff expenses, as well as increase revenues for both online and offline shopping.
Here’s how.
Applications of AR in Retail:
- Virtual fitting rooms: Allow customers to “try on” clothes and accessories digitally, improving confidence in purchasing and reducing returns.
- AR positioning and configuration manuals: They offer interactive guides for assembling or installing products, facilitating the post-purchase experience.
- AR-assisted navigation and counseling: They help customers find their way around physical stores and provide detailed product information in real time.
- AR stores: They create fully virtual shopping environments, allowing customers to explore and purchase products from anywhere.
- Visualization of furniture in real environments: Using AR devices, consumers can virtually place furniture in their homes to assess size and style before purchasing.
- AR-assisted in-store navigation: Inside stores, AR can guide customers to desired products, offering directions and additional information in real time.
- Interactive packaging: By scanning product packaging with AR devices, customers can access additional digital content, such as instructions, demonstration videos or special offers.
- Immersive brand experiences: Retailers can create immersive virtual environments that tell the brand story, allowing customers to interact with products in innovative ways.
Credits: scnsoft.com
Integration of AR in Physical Stores:
The implementation of AR in traditional outlets can take place through:
- Dedicated mobile apps: Customers download an app that offers store-specific AR features;
- In-store devices: Using tablets or interactive kiosks equipped with AR to enhance the shopping experience;
- Smart mirrors: Installation of AR mirrors in dressing rooms to visualize how different garments or accessories look without having to physically wear them.
Retail: the top 5 applications in augmented reality
The video“NRF 2024: Top 5 Augmented RealityUse Cases in Retail” presents the top five applications of augmented reality (AR) in the retail sector, highlighted by Jill Klein, head of emerging technologies and the Internet of Things at CDW, during the NRF 2024 (National Retail Federation) major retail event.
The scholarlyarticle“Augmented Reality in Retailing: A Review of Features, Applications and Value” by Federica Caboni and Johan Hagberg examines the use of augmented reality (AR) in the retail sector, analyzing its definitions, applications and added value for retailers and consumers.
Definition of Augmented Reality (AR): the authors propose a synthesized definition of AR, highlighting its key elements and distinguishing it from virtual reality (VR).
Applications of AR in Retail: The article identifies three main types of AR applications in the retail context:
- Web-based: AR experiences accessible through browsers without the need for dedicated apps;
- In-store: use of AR devices inside stores to enrich the shopping experience;
- Mobile apps: AR applications that can be downloaded to mobile devices to interact with products.
Value of AR for Retailers and Consumers: Adoption of AR offers numerous benefits, including:
- For consumers: more immersive and personalized shopping experiences.
- For retailers: increased customer engagement and potential increase in sales.
Further confirmation that augmented reality in retail is an emerging trend that offers significant benefits for both consumers and retailers by enhancing interaction and the shopping experience.
Copyright: http://www.shutterstock.com/license | http://www.gettyimages.in/company/license-info
Retail: emerging trends
For Deloitte, rising trends in the retail sector include:
- Metaverse integration: Brands such as Valentino Beauty are experimenting with the use of metaverse technologies to create immersive shopping experiences that combine digital and physical elements, such as the use of smart mirrors to virtually try on products.
- Improved in-store experience: Using AR apps to provide additional product information and special offers.
- Visualization of bulky products: Ability to virtually place furniture or appliances in home spaces to assess their fit.
- WebAR: Access AR experiences directly through a Web browser, eliminating the need for dedicated apps.
- Experiential marketing: Creating interactive campaigns that engage customers in innovative ways.
- AR product configurators: They allow customers to customize products in real time, visualizing changes through AR.
Benefits of AR in Retail
The adoption of AR in retail offers numerous benefits:
- Increased engagement: Customers interact more deeply with products, leading to a higher likelihood of purchase.
- Reduction in returns: The ability to virtually view and try on products decreases erroneous purchases and subsequent returns.
- Competitive differentiation: Retailers that integrate AR stand out in the market by offering unique experiences compared to competitors.
- Improved decision making: Customers can make more informed purchasing decisions by having a clear understanding of how the product fits into their context.
Credits image: Forbes
Growth of the Augmented Reality Market in Retail
Below are some key data and statistics highlighting the impact and growth of AR in retail trade:
- Market Value: In 2021, the global retail AR market was valued at $2 billion. It is expected to reach $61.3 billion by 2031, with a compound annual growth rate (CAGR) of 41.4 percent from 2022 to 2031.
- Future Projections: It is estimated that the global augmented reality market will grow from $60.47 billion in 2025 to $353.60 billion by 2030, with a CAGR of 42.36% over the period 2025-2030.
Adoption by Consumers and Retailers.
- Consumer Preferences: A study conducted by PwC revealed that 79% of consumers would prefer to buy from a retailer that offers AR experiences.
- Implementation in Retailers: 45% of retailers globally have implemented AR technologies to improve the shopping experience both online and in-store.
These data highlight how augmented reality is becoming a key element in the retail sector, improving the customer experience and offering significant competitive advantages to retailers who adopt this technology.
What it means to rely on Intelligent Assisted Reality technologies.
With Fastbrain and RealWear, customer satisfaction can be increased by making work more efficient and easier.
Experts can, through smart glasses, guide, train and assist technicians in the field hands-free as they do their work.
RealWear solutions support companies in every industry with the best AR smart glasses on the market, under the banner of continuous innovation and sustainability.
About Fastbrain and why to choose it
We are Certified Partners of leading Technology Players, offering customized solutions, pre-sales and after-sales support and operational rental included.
As a RealWear Gold Partner, we offer state-of-the-art assisted reality solutions designed to connect and collaborate with experts remotely, track digital workflows, visualize IoT data, and more.
Safely reduce downtime, improve quality and employee productivity, while realizing a significant return on investment.
Discover all the benefits of intelligent assisted reality for your Company.
Info: [email protected] | Tel 011.0376.054
References:
https://www.gartner.com
Retail & Tecnologia: La Crescita della Realtà Aumentata (AR) nello Shopping
https://www.mordorintelligence.it/industry-reports/augmented-reality-market
Federica Caboni, Johan Hagberg | Department of Economic and Business Science,
University of Cagliari, Cagliari, Italy, and Department of Business Administration,
University of Gothenburg, Gothenburg, Sweden: https://web.unica.it/unica/protected/409172/0/def/ref/MAT264368/
https://www.mezzo-pieno.it/tecnologia-e-innovazione/la-rivoluzione-della-realta-aumentata-nel-retail-e-nel-marketing
https://www.fingent.com/blog/augmented-reality-in-retail-reimagining-the-future-of-shopping/
Featured Image: https://www.scnsoft.com/blog/augmented-reality-in-retail
