Augmented Reality is a new trending technology that companies need to consider when planning their marketing. As the manufacturing market continues to expand, customers are becoming more demanding and demanding. Anyone who specializes in retail should recognize this new challenge. Companies not only need to think about ways to attract consumers, they also need to cut costs
Some AR Statistics below you should know
In 2020, 32% of consumers use AR when shopping.
According to IDC, global AR / VR spending will reach $ 18.8 billion by 2020, up 78.5% from 2019.
Retail is projected to account for 5% of AR use by 2022. (Statista)
Currently, only 1% of retailers use AR or VR (Virtual Reality) for their customer experience. (mobile marketer)
71% of shoppers prefer to visit a store that offers an AR experience (Lumusvision)
32% of users use augmented reality, and 73% of mobile AR users say they are very satisfied with mobile AR features.(Wikitude)
Augmented Reality is a major change affecting offline customer loyalty that brands and retailers are updating to digitize the customer experience. Implementing AR and VR in retail helps retailers and customers stay in touch to ensure an unmatched customer experience. This digital transformation is now taking a huge leap forward in defining how retailers do business. The keyword “augmented reality” is gradually climbing its way up, but not everyone is sure what AR really is and why it’s the next big issue in customer loyalty.
Engaged Customer Experience
Retailers can connect with customers in real-time and offer them what they are looking for with the right information and tools to help them make the right decisions. For example, navigate a map to a product that customers are looking for and notify customers about special offers and offers.
Improve Decision making process
When choosing from a variety of offerings, customers rely on their logic and emotions. Before buying something, they often weigh the pros and cons to make the right decision.
When marketing efforts fail to convince customers that a particular product meets their needs fully, they can turn to a different retailer.
Due to its visualization capabilities, augmented reality can help buyers dispel doubts about product features and options. With a better understanding of the benefits of the product, the more likely the buyer is to make a purchase.
Reduce Cart Abandonment
Cart Abandoned Percentage refers to buyers who don’t make any purchases after adding the product to their cart. Because AR makes shopping an enjoyable expedition for shoppers, it reduces cart abandonment rates by a huge margin. Since customers are already visualizing product appearance through virtual presentations of AR products in 3D, consumers can focus on making smart, reliable purchases in their environment while assessing specifications such as product size and correct color. It also reduces the return on online purchases.
Customers do not have to rely on employees, and the AR application acts as their personal assistant. The app forwards them to the product they are looking for, offers alternatives if necessary and reminds them of special offers internally.
Online Marketing made Easier
Store navigation can be combined with personalized marketing. When users use their smartphones while navigating your store, they can view personalized product offerings via AR and AI based on your shopping history and user preferences. Customer special offers have a higher conversion rate and improve the customer experience.
Augmented Reality is an effective marketing tool that works for both buyers and retailers. If implemented correctly, customers can make exclusive purchases to share with their friends.
Augmented Reality ensures a memorable customer experience, offers a higher level of engagement, increases sales, and reduces customer entry barriers. It is argued that brands turning to augmented reality shopping are taking a forward-looking approach.