13 Feb How Augmented Reality Will Shape the Future of E-commerce
Although people have cast aspersion against technology numerous times, we have experienced the best of it during the pandemic. Other than essential services, technologically advanced businesses were amongst the few that have stayed afloat even amid the pandemic. It has taught us the value of both manual labor as well as the importance of technology and how it affects our lives on personal levels, both emotional and financial. Like the essential services, Ecommerce also played a role in keeping people fed and delivering essentials at distant locations.
The decades of technological advancement paid off, without which, we might have fared a lot worse. It has helped medically as well. Augmented Reality is trying to achieve the same. With each advancement in AR tech, we pave a path to a future that’s technologically inclined. When it was launched, e-commerce took the world by storm. And lately, it has been particularly beneficial. We have all heard about Augmented Reality and the numerous benefits it has to offer. Today, we are going to focus on how Augmented Reality has achieved its current heights and the impact it has had on the online retail industry. After which, we’ll also talk about some other industries where AR has proved effective.
How Augmented Reality Has Risen To Its Current heights
Have you heard of the term Selfitis?
Chances are most of you haven’t. Selfitis is a term used for a person who takes excessive selfies and posts them on social media. Does that sound like you or someone you know? The probability of an affirmative answer is high.
To hammer in the popularity of selfies, let’s talk about a 2015 Google Report, which gave us the data that a millennial is known to take approximately 25,700 selfies in their lifetime. It is the last reported account of selfies taken per day, and we have scoured through numerous sources. There have been no recent updates regarding the matter. This data brings to light our fascination with selfies.
Social Media apps such as Snapchat, Instagram, and Facebook have designed AR Filters to make a person feel more attractive. A lot of these AR Filters are powered by augmented reality. Many of you are aware of the Snapchat Dog Filter, but not many of you must know that before the Rainbow Barfing filter was the first augmented reality filters introduced by Snapchat. The Dog AR Filter followed a year later. Since then, Snapchat launched Lense studio that allows users to create their own Ar Filters.
The Dog AR Filter Launched in 2016.
Now, although this features AR, how is this relevant to eCommerce or Augmented Reality? Being the first thing that comes to mind when someone mentions AR, Selfies have been used by several eCommerce vendors, prime amongst them is Amazon. It compares outfit features that require a person to upload two pictures. Once they are uploaded, a fashion expert will help you choose which one to wear for the occasion.
Let’s talk about the more common use of selfies, which is in the beauty and makeup industry. Companies such as Loreal and Estée Lauder have partnered with YouCam Makeup, an app that allows users to virtually try shades of lipstick through selfies, the front cameras.
These two critically acclaimed solutions have garnered a lot of attention. We are quite sure several eCommerce companies are building their blend of Augmented Reality features that could lead to increased sales.
Augmented Reality’s Impact On the Online Retail Industry (Ecommerce)
An infographic from Enteprenuer.com claims that 71% of consumers would jump at the chance to shop with a retailer that offers an AR experience. Furthermore, 61% stress that they would make it a point to shop at stores that offer AR. And 40% would pay more if AR was a part of the shopping experience.
Just how many times have you wondered that if only there were some way in which you could visualize how certain things, be it furniture or bathroom accessories, would look in your house? Or did that thought never cross your mind?
Well, we are already aware of Ikea’s Place App’s Augmented reality experience. Now, let’s talk about Viv, short for VADO Interactive Visual an application that allows users to try out bathroom accessories virtually. You can try out accessories such as taps and showers before they are purchased.
Similar to IKEA, we have the Home Depot, both function on the same level. With home depot, you can select a product from the home depot app catalog then see a 3D visual of how it would look at your home.
This is just barely scratching the barrel of what’s in store for the Online Retail Industry. Let’s not forget how Augmented Reality leverages selfie tech, such as Modiface, which is another makeup try out app created by Sephora. Moreover, Sephora is using similar technology for their apps that allow users to try out hair color and eye color. Each of these apps and Augmented Reality modules are accessible to a wide array of people overall demographics.
Even though Augmented Reality has much to achieve, people are still excited and surprised by its effectiveness, which works in favor of the vendor. They are in awe of this technology. Now that we have seen some of the most applauded examples of augmented reality in the eCommerce industry, let’s take a quick look at how other industries have fared.
Augmented Reality’s Impact On Other Industries
With the numerous augmented reality business opportunities available in the market, each industry has the potential to flourish with the proper implementation of the technology.
AR For Travel:
Everyone in their lives wants to travel, but it is a dream hindered by several obstacles. AR and VR services offer not just them but everyone an opportunity to visit places on their list, and around 84% of consumers would prefer that. The most renowned example of AR in practice is Google Expedition, which took school children on field trips from their classroom. They visited not just other parts of the world but Mars as well. It also offers people with physical disabilities a cheaper and more sustainable alternative.
AR For Medical:
Around 24% of AR and VR experts claim that the technology will benefit the medical and healthcare industry the most. Today, there are projects such as Accuvein, which allows the healthcare workers to easily detect veins and valves, and an MRI game that can help doctors determine whether a child can remain still for the duration of the MRI or if they have to be anesthetized. While these may seem like just two insignificant ways, they have proven effective as well as time-saving, also reducing the healthcare workers’ workload.
AR For Real Estate:
Based on the last recorded data, 51% of consumers put off their home improvement projects as they couldn’t visualize what the finished product would look like. AR tech offers an interactive walkthrough of properties under construction, thereby providing an effective solution to this particular issue. There are other apps, such as IStaging, Realar Places, Ikea, and Street Peak. Street Peak, in particular, is quite effective. To use the app, you have to point your phone at home to view details about it.
How Augmented Reality will end up shaping the future of Ecommerce (Summary)
We talked about how Augmented Reality began to create an impact on this technological world, and it rose to prominence from selfies to softwares and applications that have enriched the consumer’s shopping experience. Furthermore, we also shared how it has impacted three other leading industries. Augmented Reality and Virtual Reality combined will bring us the technology we have never conceived of.
Head over to 5 ways Augmented Reality will change your life for the better to understand the scope of Augmented Reality.