Augmented Reality In Retail: The New Normal
By Pieter Aarts, roOomy
To stay competitive in today’s technology-driven world, it’s crucial that retailers implement new solutions that exceed expectations for both their customer experience and their back-end operations. As consumer expectations continue to evolve and companies search for new ways to improve their business processes, many are turning to technology to stand out from the pack. The go-to solution for many this year: augmented reality (AR).
Since AR first became more mainstream with the launch of Pokémon Go, it has revolutionized many industries, specifically retail, entirely. Now, following the release of Apple’s ARKit in September, hundreds of millions of iOS users have access to AR-based architecture, presenting a massive market opportunity for retailers. As spending on both augmented and virtual reality is expected to reach $215 billion by 2021, it’s evident that retailers understand the value of the technology, as many are investing in a variety of AR platforms to create more immersive and efficient shopping experiences, marketing opportunities and internal company processes.
Enhancing The Customer Experience
One of the most prominent uses of AR in the retail industry is delivering a heightened customer journey. Today, many people are no longer satisfied with the traditional in-store or online offerings. Instead, they expect unique, highly personalized and convenient retail experiences that blend e-Commerce with ease and entertainment. According to recent research, 49% of consumers expect retailers to launch AR tools in the next six months, and 64% would like access to virtual shopping assistants. Thus, to meet expectations and maintain brand loyalty, many retailers are redesigning their business strategies to incorporate AR.
The biggest hurdle online shoppers face is deciding if they want to take the final step and purchase a product. When searching for the perfect accessory, eye shadow or even living room sofa, many people cannot envision how a product will look on themselves or in their homes, once delivered. With AR, however, this issue is one of the past, as new platforms are allowing retailers to eliminate the unknown and lead to higher conversion rates.
For example, ULTA Virtual Assistant allows shoppers to access thousands of products in different shades and virtually try them on, superimposing specific lipsticks, blushes and more over an image of their own faces. In addition, multiple home furnishings companies – including IKEA, Amazon, and Target – have tapped into AR, building platforms that virtually project 3D images of actual pieces of furniture into their spaces, taking showrooming to the next level and better informing shopping decisions.
Improving Company Operations
While it’s important retailers focus on enhancing customer satisfaction, they must also continuously work to improve all aspects of their business, including how they market their products and carry out backend processes. While some are building their own frameworks, others are implementing already existing B2B AR platforms. Augment, for example, allows home furnishings retailers to display their products in 3D. One step further, roOomy provides a platform for well-known retailers to market and showcase their products in AR, all of which can be purchased by users directly through the app.
In addition, some companies are developing AR-based technology that is specifically designed to help retailers improve their front-line processes. Ubimax uses AR to improve the behind-the-scenes tasks retailers complete every day, such as manual order picking, inventory management, manufacturing and training in retail warehouses. The wearable products support a variety of internal retail solutions, increasing the quality and speed to market, and thus decreasing the associated costs.
Time For Change
Regardless of how retailers choose to implement AR, they should do so now. In this time of unprecedented innovation, those that invest in building a strong digital core will see the greatest success. To be a leader in this highly competitive landscape, retailers must continuously improve every aspect of their business, and AR is the perfect first step. While the technology is still evolving, we’re undoubtedly going to see exponential growth over the coming years – and as pioneers who leverage AR, we’re eager to see how it will continue to impact the retail industry and beyond.
Pieter Aarts, co-founder and CEO of roOomy, pioneers roOomy’s momentous efforts to continue to lead the world in 3D, augmented and virtual reality technology in the interior decorating space. Bringing more than 25 years of diverse industry experience to the roOomy team, including entrepreneurship, management, and sales, Aarts knows a thing or two about strategically driving success. His passion for proactively seeking the cutting-edge drives roOomy’s mission of helping Real Estate professionals and home buyers visualize a home’s space through the power of 3D, AR and VR. Born in the Netherlands, he is a traveler at heart.