How Augmented Reality is Transforming the Retail Experience?

05/25/2020

The Augmented Reality market has become so popular that in the coming days it will become a crucial part of our lives. Predictions of its value reveal that it will reach $60 billion by 2023. AR has made a crucial impact on every field which includes healthcare, gaming, retail, digital marketing, entertainment, education, and utilities.

When we integrate Augmented Reality in retail, it has been estimated that 32% of the shoppers are regular AR users and over 70% of smart-phone users are contented with their experiences. Such statistics reveal how the market has changed with the usage of smart retail solutions and is exponentially growing.

Problem with Traditional Retail Marketing

Legacy marketing forms required transformation with time as numerous technological developments and supply for goods were increasing. The user base is growing, data volume is growing and the system needs more automation. Here are some points that highlight the overall issue:

1. Traveling
The impact of the COVID-19 pandemic on the retail is an ever-present example. People are following social distancing, lockdown is implemented, people have to remain inside and only go out to buy necessary products, the risk of coming in contact with an affected person is always present.

2. Compartmentalization
This isn't a problem but it can become in the future. The more time is spent in clearing various compartments for production, the risk of coming in contact with the disease increases.

3. Out of Stock
One major limitation of conventional retail a business that is constantly experienced is products not in stock and to buy them you have to visit the store. In times like these where limited b2b business services and mass hoarding, the problem has become quite serious.

4. Costly Affair
A brick and mortar store is a costly investment. For startups, it is not an easy decision to make and may mean risking everything. Therefore, with no consumer at store business is lost which results in the closing of the business.

5. Limited Opening Hours
Unlike online shopping, retail stores have fixed opening hours. And during pandemic times like COVID-19, rules have become stricter. There may be times when searching needs to be done properly and selected items should be on the cart.

Benefits of Augmented Reality in Retail

1. Personalization of Content
Retailers often do customization of content to meet customer expectations. You might've seen retail stores eliminating content so that you look for relatable items. This has been done in multiple ways. Another technology named Virtual Reality is also available for enhancement. Together they offer comprehensive retail solutions. 

2. Smooth Trials
Waiting outside the trial rooms for a turn is highly boring and time-consuming. To ease the process, there are virtual mirrors available where you can simply find out the dress sizes you like and with the help of a digital screen, you can see how that apparel looks and fit your body.

This is an amazing role of Augmented Reality in retail. You can integrate this into online shopping too. For instance, while shopping for a pair of glasses, the app will identify your face according to the digital reflection. This is a part of product information management thus growing retail sales.

3. Combines Traditional and Online Shopping
Making Shopping process smooth is an important business strategy. Now with numerous retail stores available and a huge population, it becomes difficult to select a shop for the right things. One of the major advantages of AR in E-commerce is that it boosts the 'fun' a feeling of traditional shopping techniques minus inventory costs and never-ending lines.

Wrapping Up:
Augmented Reality is often considered as a futuristic technology, but this is not the reality. It has already made its impact and serving all sectors of the retail market. The time is not too far when you are wearing AR-enabled glasses or using mobile apps to shop for everything from the couch. Yes, all this without even stepping out from your home. Salesforce automation service can be used to make more advancement in the retail business expansion. Several retail brands use this technique for improved business results.