How AR/ VR is Reshaping Shopping Experience
The face-paced technology advancement has unfolded numerous potentials across various sectors which in turn has revolutionized the conventional business landscape. Retail is one such arena that demands high customer engagement. Thus, this sector has embraced the most advanced technologies, Augmented Reality (AR) and Virtual Reality (VR) which indeed has totally transformed the way people opted for shopping.
According to sources, lately, the Augmented Reality market has witnessed a massive progression and hence its market is estimated to reach $6.14 billion by 2023. However, Wikitude reports that the number circling the AR in retail, approximates to 32 percent of customers who regularly use AR, while, 73 percent are smartphone AR users. Also, with the growing
Most of the time AR and VR are considered as twin technologies, but in reality, VR is tends to get more consideration over AR. The VR is a digital reaction of the environment around the user, while, AR overlays virtual elements in the real world. In Indian retail market, customer is treated as a king. Thus, the retailers constantly strive hard to provide exceptionally engaging customer experience to their customers, as compared to their competitors.
AR/VR Features Enhance Retail Market
Improved Customer Engagement: The Augmented Reality and Virtual Reality is a perfect blend of technologies to keep the customers hooked in their shopping. These technologies provide various applications that allows the customers to sit at their comfort zone and shop like a pro by comparing the products and their prices. Also, these application feature chatbots that connects the customers to sales representative for further queries.
Customer Satisfaction: Every retail considers customer satisfaction very crucial, as that bring back the customers to the retail again and again. In fact customer satisfaction determines the success of the retail. AR and VR could provide that enriching experience to the customers which could significantly elevate the customer satisfaction. Further, this technology ease the shopping experience as well as makes it a memorable experience to the customers.
Creates Awareness & Retains Customers: These technologies could also serves as an efficient marketing tools to spread awareness about the products. The technologies application enables the customers to compare the products and feature it on the application tends to grab the customers attention which in turn would escalate the sales figures. The retails have a mantra ‘A happy customer is a returning customer,’ and every successful retail swear by this mantra. Thus, they try their best to offer a memorable experience to their customers. AR and VR aid in fulfilling the need of satisfying customer experience.
Retails Using AR & VR for Shopping
The furniture major, Ikea has witness its sales rate skyrocketing to $35 billion, and the brand has stated that this number is a milestone in the Ikea’s digital transformation journey. The brand’s AR/VR app enables the customer to arrange their desired furniture in their rooms ‘virtually’ and see the mapping and match up according to the construction with ease.
Houssup, an Indian startup that provides designed homes. The startup aims at substantially changing the age-old idea and process of designing or renovating the space with the visual technologies AR, VR as well as Artificial Intelligence. These technologies offer an end-to-end eCommerce platform for the interior designing according to the need of the designers and customers.
Preksh, is a product based upon the 360-degree panoramic tour of a store. This provides an informative, interactive and intuitive for the shopping. This allows the customers to walk directly into the store and get required information about the product and proceed with their shopping all by themselves without any hindrance.
With the growing popularity of AR and VR in the retail market, Invesprco has forecasted that about $2.4 trillion would be spent online in the next year which would raise the retail spending by 8.8 percent. Thus, we could further expect added feature in our shopping experience in the forthcoming days.
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