Augmented Reality in Retail: Market's bird-eye view
By: Ahmad Melki
In: AR Environment
2020, October 13
An ever increasing number of companies comprehend the capability of augmented reality for promoting their items. Obviously, the dynamic utilization of augmented reality for retail started with market leaders, for example, IKEA, L'Oreal, Converse, Ray-Ban, and Lego.
However, with the dispatch of stages like ARKit from Apple and ARCore from Google for the enlarged reality application advancement, AR innovation has gotten available to both medium and little retail organizations. companies.
Augmented reality retail market in 2020
Nowadays, the interest for augmented reality in retail is developing at a gigantic movement because of many reasons. How about we study the purposes behind the critical notoriety of AR innovation and the degree of AR for the retail market. ?
What raises the interest for augmented reality in the retail area?
The basic reasons that raise the interest for augmented reality in retail are :
- The development of online shopping.
Augmented reality is an ideal instrument for online business. The bigger turns into the online business market, the more prospects there are for utilizing augmented reality innovation.
In the interim, the online sales market is consistently developing. We can follow this pattern in the chart below.
- The expansion in the share of sales through cell phones and tablets.
Augmented reality gives huge number of potential outcomes when utilized on phones than in desktop. In this manner, the development of sales through phones invigorates the improvement of augmented reality in online shopping.
- The expansion of available augmented reality frameworks, specifically, ARKit.
Perhaps the best drive for the broad utilization of augmented reality in retail was the arrival of ARKit in June 2017. Apple's ARKit is a system that permits developers to make different augmented reality applications for iOS in less difficult way.
The new ARKit innovation gives high precision of following the mobile's situation in space and acknowledgment of planes in the encompassing scene. In this way, ARKit makes a lot more prominent open doors for the developers of AR applications.
What kinds of AR are emerging in the retail area ?
Today, AR applications for home decoration and furniture are the most famous. These augmented reality applications make it conceivable to comprehend whether some home decoration item fits in the correct spot and how it will glance in the current look of the room.
Probably, the part of AR applications for configuration will keep on developing, as clients are more than ready to purchase merchandise from brands that have augmented reality applications for the home decoration and furniture.
Virtually trying shoes and clothes is additionally an incredibly mainstream kind of AR applications. Virtual fitting assists clients making buying choices smoother and quicker and essentially decrease the pace of returning the products.
In this manner, numerous brands including Converse, Lacoste, Nike, American Apparel, Ray-Ban, L'Oreal are utilizing augmented reality to sell their items.
How much money is on this market?
The augmented reality share in the retail market in 2016 was at $640 million while in 2020 it increased to $8 Billion. And by 2024, this amount can reach $100.2 Billion.
This market shows a consistent upward pattern because of the expanding enthusiasm of buyers in utilizing AR innovation. According to our market research we found that 80% of 18-45 year olds Tunisians are bound to buy from brands that use the augmented reality to sell their items.
Simultaneously, for business, the passage boundary to implement augmented reality are fundamentally less difficult now thanks to the new frameworks by APPLE and GOOGLE, these innovations gives adequate open doors for little brands to sell their items with Augmented Reality.
What do customers look for with augmented reality
Augmented reality can improve client experience when buying most products. How about we take a gander at certain online shopping retail wherein augmented reality has just demonstrated its advantages to clients.
Normally, when picking garments on the Internet, clients are having a great deal of questions. Did they pick the correct size? Do this tone and style fit them? Will this item match other apparel?
Virtual fitting answers every one of these inquiries. With the assistance of this augmented reality arrangement, clients can pick the most proper garments, shoes, caps, and glasses on the market.
Likewise, in-store mirrors and fitting rooms utilizing augmented reality innovation help get garments directly in the shops without investing energy in the physical fitting.
Regularly, virtual fitting rooms in stores give the likelihood to spare looks, send photographs to the client by means of email or offer photographs on informal communities. So purchasers can immediately request guidance from their companions, and it is simpler to conclude whether to purchase a specific arrangement of garments.
At the point when clients go to the store, they don't have the chance to do makeup with the assistance of experts. While, with the augmented reality applications, clients can perceive how absolute cosmetics will look on them and analyze distinctive cosmetics alternatives.
Virtual makeovers are as of now utilized by numerous brands, for example, Maybelline, Sephora, L'Oreal, Estée Lauder and NYX Professional Makeup.
Home decoration and Furniture
An important number of customers delay redecoration or acquisition of furniture since they can not envision how the completed look will look like. It isn't generally conceivable to speak to architects experts. At that point Augmented Reality applications for the decoration prove to be useful.
A lot of brands utilize AR to offer clients the chance to "put" the chosen furniture in the specific place, to see whether it is fitting well in term of style and color and to decide whether there is sufficient spot for the item.
Maybe right now, the most acclaimed Augmented Reality application for picking furniture is IKEA Place.
In other case, little brands likewise have comparable applications. For instance, the Polish startup Tylko Shelf, which produces racks of uncommon setup, permits clients to locate the ideal racks for their space utilizing an AR application.
Jewelry and accessories
An ever increasing number of clients want to shop on the internet. This likewise refers to jewelry and accessories
But since the cost of jewelry is very high and it regularly doesn't cover the standard return conditions, clients need to be certain about their decision. For this situation, Augmented Reality applications can help.
The clients of Augmented Reality applications can get an ideal perspective on the jewelry and accessories with intuitive 3D videos, and furthermore basically take a virtual look at it on the hands
Recent patterns that shape the eventual fate of Augmented Reality in online shopping
AR has moved past diversion and brings an ever increasing number of benefits for brands. In such manner, there are a few patterns forming the eventual fate of augmented reality for retail:
- enhancing the in-store experience utilizing AR innovation.
As of now, markets, garment, and machine stores are making strides in AR in-store route and giving extra product information through AR applications. Further the development toward this path can totally change the fate of physical stores.
- Improved innovation of scanning and making 3D models of the human body.
As of now, Facebook is exploring different avenues regarding the utilization of virtual try on in ads efforts. Amazon is additionally attempting to join augmented reality innovation into its business cycle.
Today is the right time to build an AR app
As we noticed, the innovation of augmented reality is constantly improved and is getting more well known. As we would like to think, the eventual fate of retail is unavoidably associated with augmented reality.
That's why, today it merits pondering AR app improvement in the retail area. With the Augmented Reality application, you will be a progressive retail company attracting more and more clients.
Our Agency has involvement with augmented reality development for different retail fields. We will assist you with picking the most suitable kind of AR application for your field, target audience and growth plan. Get in touch with us to capitalize on augmented reality.