With ever-evolving customer experience, augmented reality for the retail industry is working as a catalyst for exponential growth. According to a survey, around 23% of the customers leverage AR technology to buy products. By the year 2023, this industry will cross the valuation mark of $61.4 billion. Around 73% of the AR users are highly impressed by its futuristic facilitations.
Advantages of AR for online shopping and other businesses
From the past couple of years, AR solution has gone beyond fancy gimmicks and a decorative technology. Now, as online shoppers are getting more digitized, offering a top-notch customer experience has become an important stepping stone towards digital success.
Improves online shopping experience
With cut-throat competition in the digital retail space, online retailers can enhance the buying experience even at physical stores. It brings in several value-oriented benefits to businesses including:
- Cart abandonment can be cut down significantly as customers are fully aware of what they are buying.
- Traditional brick and mortar stores can deliver useful information in an engaging manner for higher up-sales.
- It works as a great marketing tool for improving customer retention and repeat rate.
Real-life visualization through an AR app
Another great advantage of integrating augmented reality technology into online shopping store is close to real-world experience. AR has made the product visualization process effortless fun.
- Customers can visit an online store of furniture and project a nice sofa in their living room before buying.
- Be it cosmetics, footwear, or make-up accessories, virtual experiences are helping buyers pick the right products.
- It has become easier for business owners to scale up their online stores across the demographics.
Businesses can empower purchasing decisions
The beauty of augmented reality is that it eliminates buying confusion among customers. Readily available digital information and interactive product projections improve RoI and average sales per user numbers.
- Simplifying buying decisions create a win-win situation for businesses.
- For first-time shoppers, AR assures that they are getting the right product.
- It eliminates the product return rate across industries.
At present AR usage and forecasting
Amid the lockdown, most retailers leveraged Augmented Reality in Melbourne and other cities to sustain their businesses. According to IBM, the pandemic has boosted the digital shopping shift by approx five years. AR and virtual reality valuation in the retail industry is expected to reach $2,094 billion by 2027. This is approximately a market growth rate of almost 68% from the year 2020.
Zeal is a professional augmented reality service provider in Australia and we help businesses go future-proof and customer ready. We can help companies in improving their customer engagement, gross sales, and brand value with AR.
Get started with augmented reality service in Australia with Zeal and leverage our free AR space consultation. Integrate the with technology to succeed in digital retail. Sign up with us to stay updated with futuristic AR-based business growth solutions.