The market for AR and VR in retail will reach $6.6 billion by 2025*. VR is proving a great fit for use cases where the retailer wants to put the consumer into a completely new environment, like behind the wheel of a car, while AR layers images over the consumer’s immediate surroundings, such as projecting a new outfit onto an image of the shopper standing in the store.*Goldman Sachs report (2017)
VR commerce utilises virtual reality, head mounted displays and smartphones to both enhance and drive the shopping experience. It allows retailers to immerse consumers in custom-created worlds to increase engagement and loyalty whilst increasing the margins of the bottom line by presenting shoppers with products they may have otherwise not considered.
AR lets users personally interact with offline or online products that are available to scan with AR tech. A user can change colour, style and patterns of chosen product. AR can also be implemented within the store, to provide customers with information on sales, prices or helpful features as they scan through products in-store.
The advent of extended reality technologies has led to changing consumer experiences. Mobile augmented reality can impact the search and evaluation behaviour, customer experiences can be transformed by converting data into insights to create value-based innovation outcomes. AR can help consumers navigate through stores and new locations with clear directions along shop floors, not only aiding a smoother customer journey but also help drive decisions on a real time basis.
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