AR is soon graduating from being the new cool kid on the block to adding some real values to businesses. It is not just the gaming industry that is being disrupted by augmented reality.
It has found its strong-hold in education, healthcare, real-estate and military already.
With the increasing popularity of internet, e-commerce has boomed worldwide. By 2019, worldwide online retail sales will have approx. 20% market share of total retail sales. With mobile internet becoming cheaper, ubiquity of e-commerce too has driven its growth.
But, there is one glaring problem, i.e. conversions are very low on online commerce. Traditional retailers enjoy a healthy conversion of 20% – 40% visitors into buyers, while this conversion remains a paltry 2% – 4% for online retailers. The reason behind this disparity can be many, but the one which stands out is the sensory limits of e-commerce.
As a consumer, one wants to try the product before making the purchase. Trying the product is not just seeing it but also wearing it, eating it, touching it, holding it – which are all an integral part of the shopping experience. This is a barrier which has made online retailers struggle for higher conversions.
Perspective views of products
Online shoppers wish that they could see the product in different perspectives and interact with it. Augmented Reality is helping buyers see the products from multiple angles, rotate them around, zoom them to see the details.
Ability to place products in real life environment
Biggest advantage of AR is its ability to place objects in real life environment. Buyers can place virtual models of lamps and other room decors on a real dresser placed in the room. Shoppers can place large furnitures, sofas, dining tables in their homes to see how they fit in with the existing objects , color of the wall etc.
Ikea has been betting big on augmented reality, the retailer of DIY furniture is using this technology to let customers preview how a piece of furniture looks using their smartphones.
Touch and feel the products
Brick-and-mortar retailers still flourish in this day and age of e-commerce and its conveniences. It’s the ability of consumers to touch and feel the products physically before making a purchase. Augmented Reality is bridging that gap, it integrates real objects and the virtual models of the product. At its core, it allows consumers to touch, feel and move around the product.
Augmented reality can be used in variety of e-commerce stores, right from your clothing, accessories to home decor and furniture stores. This technology is already gaining huge traction and its here to stay. For consumers, AR integrates both physical and emotional feeling in the e-commerce purchases.