Shopping To Become An Augmented Reality

The retail industry has experienced unprecedented changes in the aftermath of the Covid-19 pandemic. Shopping experiences have evolved from being physical-first to being virtual-first for consumers.

FREMONT, CA: The retail business has seen significant changes in the aftermath of the Covid-19 outbreak. Consumer shopping experiences have shifted from being primarily physical to being primarily virtual. Brands have gotten on board to make the experience as immersive as possible for consumers. While customers loved the convenience of purchasing online, virtual retailers' flaws became evident. As a result, many technologies have been adopted by brands to assist them in delivering the in-store experience online. Augmented Reality (AR), which, in addition to lowering e-commerce limits, enriches the online buying process by offering complete product descriptions, is one of the powerful tools that help achieve this nicely. AR facilitates this process by allowing users to see how the product will appear in their environment. AR opens up a world of possibilities for marketers, allowing them to creatively present their offerings.

Consumers are more optimistic about augmented reality. The ease with which people may purchase electronically has paved the way for additional AR technology development. According to a Deloitte survey, 94 per cent of customers are predicted to use augmented reality for shopping in the same way they did in 2021. Consumers are 41 per cent more inclined to consider brands that offer augmented reality experiences. Snapchat's augmented reality is 1.7x more immersive than any other platform, according to a study conducted by Alter Agents.

Due to the popularity of social media, retail trends such as social commerce are also rising. The capacity to sell items and services directly through social media is known as social commerce.

According to Accenture, the worldwide social commerce market would increase two-and-a-half times to USD 1.2 trillion by 2025, from USD 492 billion to USD 17 billion in gross merchandise value, with India's market rising at a 59 per cent compound annual growth rate to USD 17 billion in gross merchandise value. Users are significantly impacted by social evaluations and comments due to the possible hazards associated with online purchasing, resulting in a culture of social product unboxing, inspection, and live peer reviews. Since potential consumers are more likely to trust those who appear to be ordinary people than the brand itself, brands are working with influencers and employing AR technology to develop a social commerce narrative from discovery to conversion.