Augmented Reality (AR) is getting momentum as a new way to increase client’s experience and sales conversion rate. Over the last few years a lot of initiatives have been tested by retailers aiming at helping the shopper to better appreciate how the product would look like once purchased. As good as AR may be on entertaining customers, impact on sales has not been proven yet leading to the none renewal of many initiatives. The recent success of Pokémon Go AR game indicates that new business models are still to be invented and that more opportunities will come in the future.
While technology continues to evolve, retailers will need to redefine which business needs Augmented Reality will have to address.
Some benefits that retailers can get from using augmented reality in their business:
- Increase conversion rate: AR tends to reduce purchase uncertainty by helping the shopper visualize the product in its final stage (ex: AR catalogues)
- Generate traffic in-store: shopper comes to store for getting a reward (discount or gaming interest)
- Collect data: all customer’s actions on AR devices can be tracked to get better understanding of customer’s preferences
This newsletter will give you more insights on what augmented reality is and suggest some areas of investigation:
- What are the benefits for customers and retailers?
- What activity sectors should feel concerned?
- How augmented reality can serve different business needs?