The Emerging Role of Augmented Reality in the Retail Industry

The Augmented Reality apps market has become one of the most comprehensive additions. Predictions estimate that the total value of the AR market will reach $61.4 billion by 2023. If we talk about the reach of the technology in a different domain, it has penetrated almost every area including education, retail, entertainment, utilities, gaming, healthcare, digital marketing, etc.

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If we consider Augmented Reality in retail, approximately 32% of shoppers are regular users of AR and approx 73% are satisfied smartphone users with great experiences. It is still on the way to grow the market exponentially. The growth shows an insight into the overall present and future market scenario. The contribution of the AR to the overall market size will get people closer to the benefits. In this blog-post, we will get to know about the incredible job of Augmented Reality in the retail industry.

The Problem Associated With Traditional Retail Marketing:

With the period of time, marketing started demanding a makeover. With that, demand and supply for goods started increasing. Retail shops became larger in size and the system became more organized. However, there are still some problems that exist in traditional retail marketing.

Traveling:

COVID-19 pandemic is the biggest example to understand the impact of traveling and virus spread together. During the lockdown, people avoided going out unnecessarily. They went out to buy essential items only as there was a threat of coming in contact with an infected person.

Accessibility of Items:

One of the biggest problems that people experience with retail shops is the availability of insufficient items. This has been an on-going limitation of traditional retail business that people find the items out of stock. With limited resources and mass hoarding, the problem has become a persistent issue.

Compartmentalization:

People may not consider this a problem, but it is a concern. While shopping in retail stores, people have to spend more time in various compartments getting in contact with various products. It does not only waste the time of people but also increases the risks of contracting the diseases.

Money to Setup:

There is no denying that a retail store is always a costly investment and it can also mean risking everything. If a consumer does not visit the store, it may mean a loss in businesses that can result in the winding up of the business. Further restrictions include limited working hours of the store that may not offer sufficient time always.

How Augmented Reality Has Changed The Game In Retail Industry?

The impact of Augmented Reality has added numerous benefits to the industry. From streamlining the process to simplification to enhanced user experience, the technology is a different ball game altogether. Here is a glimpse of some great benefits of augmented reality in the retail industry:

Content’s Personalization:

With augmented reality, retailers can customize content accordingly to meet the expectations of their users. You might have visited an online retailing store with a filter option on the website that allows its users to filter out the content to find out the most relatable items without wasting much of their time. AR has also been rendered for enhancement.

Traditional Retailing and Online Shopping:

Online shopping is a fun activity. With the availability of many retail stores, it sometimes becomes harsh to shop for the right things. One of the great benefits of Augmented Reality in eCommerce is that it replicates the fun quotient of traditional shopping eliminating inventory costs and never-ending lines.

Great Ease of Trials:

Waiting for your turn to arrive outside the trial room can be quite time-consuming. Augmented Reality can simplify this task through the virtual mirrors where customers can easily find the size of dresses and select the most fitting or suitable outfit. It can also help in online shopping. For example, while shopping for a pair of glasses, the app will scan and bring digital reflection so you can find out the best pair.

No Barriers of Language:

Augmented Reality has gone beyond the barriers of languages. With Google Translate AR mode, it is easy to find 40 foreign languages and choose the familiar one. AR-based shopping apps channelize language in accordance with the region-specific area through AR tools. The technology can help users to use the printed catalog and guide them to select the language they know.

Improved Brand Presence:

It has become easy and fast for brands to improve their awareness and reach out to a wider audience. Many mobile apps that use state-of-the-art AR features provide their users with unique experiences. The use of the marketing strategy provides the brand with great leverage to search for ingenious ways for creating a tunnel for fast and efficient feedback.

Better Return on Investment:

Augmented Reality is modern-day technology that remains under ongoing changes. Ecommerce stores or modern retailers with AR technology will get more returns on their investment than those who do not use the technology. Integration of AR is a mandatory trend these days and make AR app cost-effective and business-friendly.

So, if you have been running your retail business traditionally, it is time to make a change and shift to the whole new experience of doing retail business online. All you would need to have an augmented reality app to bring your business to the fingertips of your customers and profits in your bank account. Contact Source Soft Solutions – a highly professional Augmented Reality app development company – to create a highly fruitful business app for you. Contact the company today!

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