Before we look at the effects of augmented reality on retail industry, let us first have a look at what does the term AR refers to or what actually AR is? When any live event from physical real-world environment, gets a touch of some computerized sensory inputs such as sound, videos or any other data and is being enhanced in quality, it is said to be Augmented Reality.
Now our main question arises that, how does it revolutionized the retail industry? Well, we know that, today we live in an era where the progress and growth of any business is counted by his reach with the virtual world. Today, every business is governed by its website,every business is an online business center for client and servers. At this point of time, why should our retailer friends should be left behind. With the help of Augmented Reality, they can make their shopping arena available to any customer at any corner of the world and can make the profit he desired for.
Cost efficient: We know that how important it is to manage the budget of the company, so that the business can be done in a balanced and smooth manner. An AR can reduce the expense of setting a new shop or a new office. These virtual shops can give a live experience to the customers who visit you online office. The item of their choice can be viewed and examine by the customers themselves and if purchased, the goods shall be delivered right on their doorsteps.
Polishes the brand loyalty: Sometime, due to any of the complex features of our favorite brand, we start losing interest in it, our loyalty for that particular brand starts degrading. Isn’t it? Well, Augmented Reality can simplify the methods of explaining these complex features to the users. For example, when apple launches any of its product, each and every features of the products is explained using AR. We know, how popular apple is amongst the users of smart phone.
Just being in its nascent stage, AR has proved its worth in uplifting the retail market by increasing the loyalty, engagement by users and decreasing the cost of production. As the technology will evolve, methods of profit generated for retailers shall also evolve.
