At present, Augmented Reality and Virtual Reality have been around for quite some time and recently made a big splash in the business world. Companies will increasingly use augmented reality (AR) and virtual reality (VR) for their developments in the coming years. As a result, Statista estimates that the global AR-VR market will reach $209 billion by 2022. Additionally, AR and VR app downloads are expected to exceed 5.5 billion by next year.
Recently, a survey showed that shoppers are more likely to buy from a company whose sales are based on immersive technology. Using augmented reality and virtual reality technology, customers can virtually visit showrooms, feel things and try them on, completely transforming the shopping experience. Augmented reality and virtual reality technologies can help customers immerse themselves in the e-commerce experience while accelerating sales and improving customer engagement, from a 360-degree catalog to an engaging digital experience.
How can e-commerce companies integrate augmented reality and virtual reality technology into their strategy?
It has been reported that 78.69% of customers abandon their cart before purchasing. Thus, finding innovative ways to incentivize customers to pay for their purchases is essential. Additionally, the pandemic has significantly changed customer behavior towards e-commerce as shoppers increasingly prefer to interact with items online before visiting the store in person.
Today, online business brands use virtual reality and augmented reality to convert leads into effective customers.
Let’s take a look at some of the benefits of virtual reality!
Increase the ease of shopping online
Even though the pandemic has accelerated the adoption of e-commerce, barriers remain in the online customer journey. Augmented reality and virtual reality can help alleviate these barriers. AR and VR can, for example, be used to locate items and try them on before you buy them. Additionally, customers can use a virtual agent to answer their questions without speaking to a customer support representative.
By transforming the customer experience, these immersive technologies can help convert a prospect into a customer.
Optimizes online marketing initiatives
Google aims to include AR product photos in sponsored and organic search results, and Facebook tests e-commerce ads in AR. Augmented reality and virtual reality could help businesses step up their online marketing efforts in the coming months.
Reduced Returns
Customers can view a product and even try it digitally before purchasing using augmented reality and virtual reality technology, increasing their confidence in their purchasing decision. Additionally, reduced returns are particularly beneficial in the fashion industry, as it eliminates the need to purchase multiple copies of the same product.
How Augmented Reality & Virtual Reality will revolutionize e-commerce in 2022?
Virtual showrooms
e-retailers will change people’s shopping habits. For example, the virtual showroom transforms physical space into a digital space, giving customers access to a wide selection of products. In addition, virtual reality glasses allow customers to see objects and their qualities, just as they would in a traditional store.
In-store navigation
Customers can visit a mall and locate precisely what they are looking for using augmented reality. The majority of the time, the user takes the form of a mobile application. These apps use complex programming language capabilities like Python try-catch to provide consumers with more than AR routing.
Online user manuals
Interactive user instructions will become the norm in the years to come. Additionally, customers can scan the product to view a virtual tour of the product or device, allowing them to better understand its features, installation procedure, and other vital details.
“Fitting” in the virtual world
By 2022, virtual try-on solutions are expected to be used by the overwhelming majority of e-commerce retailers. Therefore, customers will have a better understanding of what they are buying. With AR-enabled mirrors, customers can, for example, “try on” clothes or shoes and cosmetics like lipsticks before buying them.
In addition to apparel and footwear companies, virtual fitting solutions are now available for furniture, cosmetics, eyewear, and accessories.
Conclusion
Augmented reality and virtual reality have transformed everything from furniture to luxury automobiles to cosmetics. They are here to stay because they bring accurate, measurable results to online businesses.