Augmented Reality (AR) Benefits in Retail Stores

 

Change the entire look of your business & improve conversions

There are already many stores out there using augmented reality technology, and most of them say that it has been working for them so far. Augmented reality, or AR as it is also known, is simply a system where images are overlaid on top of real-world data, allowing the business owner to present his store in an entirely new light. 

What is very interesting about the concept of using these images to give the business is that they can change the way that people see your business, allowing more people to see your store and thus increasing your sales. This is also why companies like Best Buy are implementing augmented reality in their stores.  The commercial use cases for augmented and virtual reality (AR/VR) that are expected to receive the largest investment in 2024 are retail.

Increased traffic

There are three significant ways in how augmented reality can help your business in the end. The first one is the increase in traffic that you get from people seeing your store and being aware of what you have to offer them. When they walk into your store and find out that there is more to it than just the standard gaming consoles and games, they will be more inclined to spend money with you.

Potential consumers get a clearer view of what the store has to offer

The second way on how augmented reality helps increase your sales is through the increase of customers you get who are aware of what products you have to offer. Knowing that there is more to your store does not mean that they will automatically know what it is. 

They may need to ask for information, or they might need to ask for directions to your store. If you provide them with what they need, you have increased their chances of spending money with you. As per a survey, 45 percent more people reacted positively to AR in retails, claiming that knowing everything beforehand saved their time. 

Better client retention

By knowing more about your business and what you sell, you will know whether or not the person looking for the product you are selling knows what he is looking for.

This will allow you to learn more about your demographic and keep your clientele updated as to what they can expect when they enter your store. Knowing this is important because it will help you target your services to the right clients and the correct products. This will increase the number of people who stay in your store and the number of people that visit and come back again.

In 2020, consumer and enterprise augmented reality (AR) glasses hardware and software revenue amounted to 1.35 billion U.S. dollars. It is forecast that this is set to rise to 2.09 billion U.S. dollars in 2021 before climbing to 13.36 billion U.S. dollars by 2024.

Better promotion & advertisement

The fourth way on how augmented reality helps in increasing your sales is through promotion. By adding more content to your site, you will draw in more people to your site. You can add in more videos, more images, and any other content that you want to include so that your customers can know more about what they can expect when they walk into your store.

 If you have items up for sale, you will want to make sure that you advertise those items with AR. However, if you don’t have the money to advertise your items, you may want to try advertising with other companies. Many companies will help you get your promotion for free and, in some cases, even for free with just a little effort. According to a research, AR-based promotions brought about 25percent more conversions than traditional marketing 

Optimizes warehouse in retail stores

In this new age of technology, how does augmented reality optimize warehouses in retail stores?

According to industry experts, supply chain management, the answer is simple: by using digital technology and data analytics to create new opportunities for businesses. The days of predicting customer behavior and then having to deal with all the consequences are over.

Marketers can now see ahead of the curve and plan for changes that will lead to positive outcomes. They can see how customers use existing technologies in real-time and leverage this knowledge with intelligent applications that provide the ultimate on-demand solution.

In a retail setting, retailers need to think about how they can utilize data to benefit their business. This information not only helps make better decisions but can help them improve their overall bottom line. Retailers that understand how to optimize warehouse conditions in retail can make the most of their product by increasing foot traffic and overall sales performance. It’s a proven fact that people shopping in a store don’t like walking around empty and searching for items.

Walking through a store with an iPad or Android device is no longer enough. People want to be able to actually touch the things they’re looking for and do it with ease. That’s why manufacturers are scrambling to come up with products that provide a user experience that rivals are browsing in a physical store. Manufacturers are working on how augmented reality applications can optimize warehouses in retail stores, showrooms, and distribution facilities.

Easy Browsing

Augmented reality is the merging of virtual reality, and computing technologies to deliver improved services and better product offers to customers. By combining the physical and digital worlds together, augmented reality optimizes warehouses in retail settings by providing an easy-to-use interface for shoppers. 

Consumers can enter the store and immediately see the item they want without having to dig deep into a catalog to find it. By just looking at an item, the consumer could decide if it’s what they want, by how much they want it, and where they want to place it on their own shelf. This is known as ‘virtual shopping’.

In 2021, unit sales of augmented reality (AR) glasses among the leading brands worldwide are expected to amount to 410 thousand units, rising to 3.9 million units by 2024.

Easy To Deal With Customers

Think about it – a sales assistant enters aisles with a list of items needing to be sold, looks at a display of the items, and decides which item is best suited to the customer. The computer then displays the item in three dimensions, and the sales assistant chooses it and places it in an appropriate slot.

The computer then brings up relevant information such as price, product number, and other product specifications, which the sales assistant can then quickly access, making the item an instant ‘pick me up. Once the item is purchased, the sales assistant walks back to the cashier and deposits the customer’s total in the designated slot. 

Improved Revenue 

The technology allows a store to increase its revenue stream by allowing more sales of products that people are already interested in. On the other hand, customers can quickly find their way around a busy store or, even better, browse through a virtual online catalog or even view pictures of their product in action.

This will increase sales as people will want to take a closer look at the item before placing an order. It will be interesting to see how these systems evolve over time and whether technology develops further to make this possible.

Consumers can know how a product will look in a particular space

Consumers, now with the help of AR along with 3D models can help businesses view their products will look in their house. With this, it will lead to lesser confusion and better understanding while purchasing.


 

0 Comments

Please do not enter any spam link in the comments box.