The retail industry today is marked by a heavy influx of cutting-edge technology. Augmented reality, virtual reality, and 3D modeling are a part of this technological revolution. Customers too have become quite demanding over the past few years. They expect immersive technologies and multi-channel experiences to be a part of their purchase process. Do you know that more than 69% of your customers today expect to use your AR/VR application at some point in their buying cycle?
They want the leading E-Commerce retailers to invest in this technology and give them a more immersive experience. If we look at the statistics before the pandemic had hit, the augmented reality market alone had reached the $10 billion milestone. It is expected to grow at a CAGR of more than 46%.
Decoding Augmented Reality And Its Role In E-Commerce
Your consumers use a lot of smartphones, handheld devices, and several other gadgets. Augmented reality can be experienced across all these devices. Whether it is a head-mounted display, a personal computer, a digital mirror, or a smart TV, augmented reality apps can make a lot of difference in the entire shopping experience of your customers. With the use of the right devices and appropriate software, you can allow your customers to add 3D yet highly contextual and realistic elements and information to their real environment. Snapchat is the perfect example of augmented reality that allows users to use their smartphone camera along with various AR filters to produce an image or video according to their choices and preferences. The only difference in the context of retail is that in place of those filters and weird faces, your users will be able to project and manipulate your product. It can be your latest wedding dress design, makeup products, or even furniture items.
The AR Experience In Ecommerce – Are You Talking About The Slight Learning Curve?
Have you ever seen somebody use the AR-powered makeover tool by Instagram? It is very easy to navigate and they just have to make a few taps and clicks to access this feature. But in this time and age, this feature has become quite mainstream. Several brands have already rolled out their proprietary applications making AR-application of their eyeshadows, lipsticks, and other cosmetics a lot easier. This is just one example of how eCommerce retailers are using AR to their benefit. And yes, there is a slight learning curve to all of this.
The point is to invest in a technology that your customer is comfortable with. This technology is only going to grow in the future. It will be more than capable of giving highly immersive and cohesive experiences and will give retailers of all sizes plenty of opportunities to expand their business. Remember, your success will not be counted only by the technology that you implement but by how easy you make the entire ecosystem for your customers. In the end, it is the simplicity that you are able to bring to your customers’ shopping experience using the right hardware and software.
What Do The Statistics Say About Augmented Reality In Ecommerce?
Do you know that the total market value of augmented reality applications is going to cross $50 billion in 2024? This means that this market is growing rapidly. 3D technology along with augmented reality can enhance the experience of your customers by almost 66%. When combined in the right ratio, these technologies can help you increase your conversion by more than 40%. It also reduces your returns and replacements by more than 35%. You will be surprised to know that close to 40% of your customers are willing to pay more for your products if they get to experience AR and several 3D-powered elements in their purchase process.
And this is not all, because according to Gartner, around 30% of millennials today would prefer augmented reality and virtual reality to be highly integrated into their overall shopping experience on the internet.
AR And Its Rising Use In E-Commerce – How Retailers Stand To Benefit
- Boost Your Sales
When you give your customers the ability to virtually try your products, you are speeding up their purchase decision. Whether it is your clothes, makeup, furniture pieces, or designer jewelry and accessories, you can boost your sales tremendously with this technology.
- Minimize Your Returns
Because the 3D models are the exact replicas of the real products, there is no chance of the product turning out different from what is advertised. You can minimize your returns and replacements significantly.
- Increase Customer Engagement
The best way to engage your customers today is to give them 3D content that they can consume. It is more entertaining and satisfying than the written word or 2D imagery.
- Engaging Social Media Content
The same 3D and AR content gives your consumers a lot to talk about on their social media platforms. It spreads a positive word about your brand and makes people aware of your offerings as well.
- Better Customer Insights
When different users try out different products from your 3D catalog using your AR shopping app, you can collect useful insights from their experiences and preferences. It makes it easier for you to come up with better 3D and immersive content in the future.
- Contactless Experience
Several e-commerce retailers find it easier to deliver a contactless experience to their consumers with this technology. This reduces contamination risks and maintains the necessary hygiene that is so important to your customers.
- Reduction In Staffing Expenses
When your users are capable of trying your products on their own, virtually, and within the comfort of their homes, you don’t have to employ additional staff to help them out with their purchases.
- Strong Consumer Loyalty
When you are able to ensure a better customer experience, it automatically results in higher consumer loyalty. You get brownie points for being creative, innovative, and considerate about their needs.
Ideal For Large Products Shopping
Another very big advantage of using augmented reality applications in e-commerce is that they are perfect for your customers who are looking for large decorative pieces, furniture items, and also elaborate designer apparel. So if there is something on their shopping list that requires a considerable amount of investment, these apps come in handy. They prove to be highly informative, supportive and enriching for their shopping experience.
Final Thoughts
By investing in the right AR technology, 3D immersive experiences, and virtual reality elements, you can become a lot more than just their favorite brand. You can become their partner in shopping.