The retail industry is today, one of the most vibrant industries pushing for innovation backed with considerable investment in e-commerce, mobile and supply chain technologies.
Prediction of augmented and virtual retail market shares shows there is still a lot of scope for industries to adopt this technology, retail is not at the bottom of the list as well, occupying seventh place in TOP-10. According to the predictions, it has the capacity to grow almost 300% over the coming few years.
According to the Retail Perceptions report:
- Out of the total, nearly 77% of customers desires for product customization features;
- Around 65% of customers seek more extensive product information;
- Nearly 55% claim that mixing augmented reality with shopping experience makes it more interactive.
With the implementation of VR & AR, now the overall customer success process is much more simplified and customized without much of an effort.
Both VR and AR solutions are relatively easy to learn and can be used in a very short span of time.
Together VR and AR work so well with retail business and retain the ability to find solutions of crucial problems with customer experience – i.e., lack of user engagement and absence of immersion into the product value proposition.
The digital avatar of the user can try-on new clothes or experience different products in a virtual reality store, another variation of the immersive product catalog is fully operational. In comparison with the AR retail apps, the practical element is not present or rather absent at the current scenario. In the coming years, VR Retail Stores might be able to establish itself successfully for various kinds of products.