There has been a paradigm shift in the way retailers conduct business these days. Let us look at how these digital innovations are affecting the strategies of retailers and brands
Fremont, CA: It is a hard-to-believe fact that out of $3 trillion total spending in commerce, only 9 percent is spent online. To improve brand awareness and loyalty, increase revenue, and drive consumer engagement, retailers and inventive brands are willing to adopt immersive digital methods for offline shopping. Augmented Reality (AR) is one such promising technology that has the potential to turn offline shopping more immersive and engaging. Brands and retailers are implementing AR, a key transformational enabler for offline consumer engagement, to digitalize consumer experience. There has been a massive shift in the way retailers conduct business these days. Let us look at how these digital innovations are affecting the strategies of retailers and brands.
AR technology enriches the real world with digital information through digital media. The digital media, in the form of 3D models, videos, or other formats, are superimposed in real-time by camera view on smartphones, computers, tablets, or connected glasses, which merges the real world and the virtual world. AR is specially designed to augment, i.e., add sounds, graphics, and touch, which enhance the user's experience. Many leading tech giants including Apple, Microsoft, Google, and Facebook have invested a lot in the AR technology and enjoyed its benefits as well.
Consumer's expectations have changed over last few years, thereby impacting the way they interact with products. A Gartner study says that by 2020, 100 million consumers use AR to shop online and in-store. Around 75 percent of consumers expect retailers to provide AR experience while shopping. Keeping this in mind, retailers should implement AR and utilize its benefits.
Many known and famous brands have started making AR an integral part of the shopping experience. Retailers are utilizing AR to embed smart interactive content into the products. This will give consumers an experience of a world where real and virtual merges.
Brands and retailers can easily grow their business in an innovative way by building AR content that develops an understanding of consumer behaviors. AR helps brands to develop a comprehensive understanding of consumer engagement, besides allowing them to enhance the engagement digitally.