Augmented Reality in Retail: Boost your Sales with Innovative Experiences Share: New Discovery Agency Date Published 1 August 2023 Categories Blog Reading Time 6-Minute Read Revolutionizing Retail: Boost sales, personalize shopping. Uncover AR’s magic in the retail industry for incredible experiences! Augmented Reality (AR) is transforming how retailers interact with their customers. Boost your sales and create personalized shopping experiences with AR in retail. Learn more here. Transforming the Customer Experience In the world of retail, technology has played a vital role in enhancing the customer experience and generating growth opportunities for businesses. One of the most exciting innovations is Augmented Reality (AR). The increasing consumer demand for personalized experiences has led to the adoption of Augmented Reality in retail. Customers want more than just buying products; they seek unique experiences that engage them and make them feel special. AR offers the opportunity to customize products and deliver convenient and attractive shopping experiences. AR is an immersive technology that overlaps virtual elements into the real world, providing consumers with interactive and extraordinary experiences. In this article, we’ll explore the benefits of Augmented Reality in the retail sector and how it can boost your sales with innovative experiences. Benefits of Augmented Reality in the Retail Sector Augmented Reality in the retail sector offers a wide range of benefits for both retailers and customers. Let’s look at some of the main benefits: Personalized and Convenient Shopping Experiences Product customization is an increasingly popular trend among consumers. Augmented Reality allows retailers to offer highly personalized shopping experiences, where customers can visualize the products in their natural environment and adjust according to their preferences. This customization capability enhances the customer experience and reduces product returns, as customers can virtually try the products before buying them. In addition, studies have shown that Augmented Reality experiences are 200% more engaging than non-AR experiences. Interacting with virtual elements in the real world creates a stronger emotional connection with the products and increases customer engagement. Impact on Sales and Business Growth Augmented Reality directly impacts sales and business growth in the retail sector. According to projections, the AR retail market is expected to grow at an annual rate of 24.8% until 2028, with an estimated value of over $17.8 billion at the end of the period. These data show the growth potential and adoption of Augmented Reality in the sector. Furthermore, AR experiences create a lasting impression on customers, encouraging them to return to physical and online stores. The ability to offer unique and exciting experiences through Augmented Reality gives a competitive advantage for retailers and strengthens customer loyalty. Improved Customer Self-Service Augmented Reality also enhances customer self-service in the retail sector. It allows customers to search and navigate products more efficiently in physical stores and online. However, surprisingly, only 1% of retailers currently use AR or VR in their shopping experience. This indicates an excellent opportunity for those retailers who adopt Augmented Reality to improve the customer experience and differentiate themselves from the competition. According to data, 52% of retailers still need to prepare to integrate AR into their business operations. This underlines the need for retailers to stay abreast of technological trends and adapt to changing consumer demands. Success Stories of Augmented Reality in Retail To better understand how Augmented Reality has revolutionized retail, let’s examine some notable success stories: Malibu: How interactive street ads are captivating consumers Malibu, a well-known beverage brand, implemented a successful Augmented Reality campaign in its street ads. These ads incorporated small arcade games with a beach theme that caught the attention of passers-by. This interactive campaign significantly impacted the brand, capturing consumer attention and creating a memorable experience. Product Promotion with AR: How Nike won over its customers Nike collaborated with AKQA São Paulo to create an Augmented Reality experience promoting their sneakers. This experience, accessible through a mobile website, allowed users to visualize the sneakers as a cloud in the sky, unlocking stories from different music and dance artists aimed at inspiring young people. This campaign generated 32% more sales of the promoted model and 22% more visitors to the website during the AR experience. AR and music events: The success of Doritos’ campaign Doritos launched an Augmented Reality campaign called “Make Your Play” in collaboration with the UK’s famous Strawberries and Creem music festival. By scanning a code, users activated a play button shaped like a Dorito chip in their environment, allowing them to win festival tickets through a ticket sales page. This campaign generated a significant customer uptake, and all prizes were distributed within six weeks. These success cases demonstrate how Augmented Reality can be used creatively and effectively in retail, generating significant brand results. WebAR: Accessibility Driving Retail Accessibility is a critical factor in the adoption of Augmented Reality in retail. WebAR offers a convenient and readily accessible solution for users. Unlike dedicated AR applications, users can access AR experiences through their mobile phone’s browser, eliminating the need for downloading additional apps. WebAR can be accessed through links, scanned images, or QR codes, making it highly versatile and user-friendly. It’s estimated that around 5 billion smartphones can interact with WebAR worldwide, showcasing the potential reach of this technology. WebAR offers the advantage of reaching a broader audience for marketers and brands due to its accessibility. Additionally, WebAR is easy to implement and update, making it an attractive option for those wishing to leverage the benefits of Augmented Reality without incurring significant additional costs. Future of Augmented Reality in Retail The future of Augmented Reality in retail is promising. The AR retail market is projected to reach $50 billion by 2024, demonstrating its growth and importance in the sector. Augmented Reality presents opportunities for both brick-and-mortar and online retailers. Over 20% of Generation Z wishes retailers would adopt Augmented Reality to digitally try on products, indicating a shift in the purchasing preferences of younger consumers. With the advancement of technology and the creation of metaverses, Augmented Reality in retail has the potential to transform further the way consumers interact with products and brands. The Key to Retail Success: New Discovery Agency and Augmented Reality At New Discovery Agency, we are experts in developing experiences in Augmented Reality and Virtual Reality for the retail sector. Our team is trained to create AR advertising campaigns that drive your sales and improve the customer experience. If you’re interested in leveraging the power of Augmented Reality in your business, don’t hesitate to contact us. We’re here to help you enhance your retail commerce with AR and take your marketing strategies to the next level. Contact us today and discover how Augmented Reality can revolutionize your retail business!