By Pieter Aarts, roOomy
To stay competitive in today’s technology-driven world, it’s
crucial that retailers implement new solutions that exceed expectations for both
their customer experience and their back-end operations. As consumer
expectations continue to evolve and companies search for new ways to improve
their business processes, many are turning to technology to stand out from the
pack. The go-to solution for many this year: augmented reality (AR).
Since AR first became more mainstream with the launch of
Pokémon Go, it has revolutionized many industries, specifically retail,
entirely. Now, following the release of Apple’s ARKit in September, hundreds of
millions of iOS users have access to AR-based architecture, presenting a
massive market opportunity for retailers. As spending on both augmented and
virtual reality is expected to reach $215
billion by 2021, it’s evident that retailers understand the value of the technology,
as many are investing in a variety of AR platforms to create more immersive and
efficient shopping experiences, marketing opportunities and internal company processes.
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Enhancing The Customer
Experience
One of the most prominent uses of AR in the retail industry
is delivering a heightened customer journey. Today, many people are no longer
satisfied with the traditional in-store or online offerings. Instead, they
expect unique, highly personalized and convenient retail experiences that blend
e-Commerce with ease and entertainment. According
to recent research, 49% of consumers expect retailers to launch AR tools in
the next six months, and 64% would like access to virtual shopping assistants. Thus,
to meet expectations and maintain brand loyalty, many retailers are redesigning
their business strategies to incorporate AR.
The biggest hurdle online shoppers face is deciding if they
want to take the final step and purchase a product. When searching for the
perfect accessory, eye shadow or even living room sofa, many people cannot envision
how a product will look on themselves or in their homes, once delivered. With
AR, however, this issue is one of the past, as new platforms are allowing retailers
to eliminate the unknown and lead to higher conversion rates.
For example, ULTA
Virtual Assistant allows shoppers to access thousands of products in
different shades and virtually try them on, superimposing specific lipsticks,
blushes and more over an image of their own faces. In addition, multiple home
furnishings companies – including IKEA,
Amazon,
and Target
– have tapped into AR, building platforms that virtually project 3D images of
actual pieces of furniture into their spaces, taking showrooming to the next
level and better informing shopping decisions.
Improving Company
Operations
While it’s important retailers focus on enhancing customer
satisfaction, they must also continuously work to improve all aspects of their
business, including how they market their products and carry out backend
processes. While some are building their own frameworks, others are
implementing already existing B2B AR platforms. Augment, for example, allows home
furnishings retailers to display their products in 3D. One step further, roOomy provides a platform for well-known
retailers to market and showcase their products in AR, all of which can be
purchased by users directly through the app.
In addition, some companies are developing AR-based
technology that is specifically designed to help retailers improve their front-line
processes. Ubimax uses AR to improve
the behind-the-scenes tasks retailers complete every day, such as manual order
picking, inventory management, manufacturing and training in retail warehouses.
The wearable products support a variety of internal retail solutions,
increasing the quality and speed to market, and thus decreasing the associated
costs.
Time For Change
Regardless of how retailers choose to implement AR, they
should do so now. In this time of unprecedented innovation, those that invest
in building a strong digital core will see the greatest success. To be a leader
in this highly competitive landscape, retailers must continuously improve every
aspect of their business, and AR is the perfect first step. While the
technology is still evolving, we’re undoubtedly going to see exponential growth
over the coming years – and as pioneers who leverage AR, we’re eager to see how
it will continue to impact the retail industry and beyond.
Pieter
Aarts, co-founder and CEO of roOomy, pioneers roOomy’s
momentous efforts to continue to lead the world in 3D, augmented and virtual
reality technology in the interior decorating space. Bringing more than 25
years of diverse industry experience to the roOomy team, including
entrepreneurship, management, and sales, Aarts knows a thing or two about
strategically driving success. His passion for proactively seeking the
cutting-edge drives roOomy’s mission of helping Real Estate professionals and
home buyers visualize a home’s space through the power of 3D, AR and VR. Born
in the Netherlands, he is a traveler at heart.
