Are you an online retailer struggling to bring down high cart abandonment rates?
(FYI: Cart abandonment rate is as high as 74% for online retailing industry)
Are fewer conversions and early cart abandonment directly and adversely affecting your retail app revenues?
Encouraging the user to make a purchase is the first thing on your mind. Isn’t it?
Well, we think it is time you leverage augmented reality in the retail app.
AR based retail apps are slowly, and steadily making their way into the mainstream!
Augmented reality is a powerful tool to engage shoppers, boost sales and acquire new users.
Do you find it hard to believe?
These figures might throw some light:
- According to a report, it is believed that augmented reality will generate around $120 billion revenue by 2020.
- Even top brass like Google, Apple and Facebook are investing heavily in the development of AR technology.
In short, AR will soon be bigger. Not just Bigger, but Better!
Integrating AR in retail apps is an opportunity to provide intuitive experience to the shoppers. Effortless online shopping experience = High conversion rate. And High Conversion Rate = More $$$😊
Wait, you still think that AR in e-commerce app is far flung thought and maybe it is just good for game apps like Pokémon GO! or Zombie Run.
Because, market reports tell a different story:
- In a survey by ISACA, about 60 to 70% respondent said they see clear benefits of using AR. And around 62% said they see shopping benefits.
- Digi-Capital has predicted that AR market will be $181 billion by 2021 and half of the sale will come from Ecommerce.
In short, AR retail apps are getting bigger. Slowly, but Steadily!
You still have questions?
You don’t know How do AR impact online retailing?
So, here’s what AR enabled app does:
AR combines real and virtual worlds! It mixes real world and computer generated audiovisual elements, images and so on, to deliver an enhanced view of your surroundings.
Using a smartphones/tablet or wearable, AR put in a new layer of visually rich data between the users and their surroundings. Result? – Users get a realistic, intrinsic, useful and very context-specific information.
In short, AR-enabled e-commerce app helps you take user experience to a whole new level, since it enhances the real world by adding an extra layer of virtual objects.
(FYI: AR does not replace the real world, unlike VR or Virtual Reality)
AR retail app helps you bridge the divide between what the users see and what the product really is?
To put it in simple words, the fine line between user’s perception and the reality of products disappears. This way, your users get customized and personalized shopping experience.
Result – Chances of users returning to your app increases, manifold.
AR in E-commerce – It does look like a great idea!
But, are users ready to accept something so futuristic?
Before we move further, two quick pointers you need to note:
#1 AR is not a futuristic concept!
And #2, Users are ready to adapt to the innovative AR technology!
In fact, AR has been used in quite a few e-commerce apps earlier. For example, IKEA, the Swedish furniture store created an AR-based catalog to enables the users to see and experience how their favorite furniture will look in the house.
Perhaps, the survey result by RetailPerception.com will make things clear.
Also, AR does not require any special devices like Oculus. It works on your Smartphones, Tablets and even Wearable. So, it is easy to access for an average user!
AR in the retail app does sound like a promising opportunity!
But, it is still not clear: how can you leverage AR and make your retail app lucrative?
High cart abandonment rate is #1 problem for many online retailers. AR based retail app is the solution to this problem!
You can create an engaging experience for the buyers. E-commerce apps have become popular. Still, many shoppers miss Showroom Experience, which an app cannot provide.
However, today this situation has changed.
AR retail apps help you provide the much cherished ‘Showroom experience’ to the buyers. They can view some intrinsic details of the product. Also, they can perceive how a product would look in the real world.
And this makes the buyer more confident. More confidence = More purchasing.
Since the boundary between perception and reality dissolves, the users can interact more with your brand.
This ‘interaction with the brand’ affects the buyer’s purchasing decision in a positive way. It encourages them to explore more options. This means you can provide more personalized solutions to the buyers.
Result – Increased brand loyalty. Increased brand loyalty means more $$$!
Isn’t it a win-win situation?
But, how much does it cost to develop an AR retail app or integrate AR in an already existing app?
The cost varies, greatly! It depends on the number of features and technical complexities
However, if you have a budget between $20K to $80K you can get an AR enabled app.
In the end, market experts see AR as a major disruptive force that will soon change the face of retail industry. And so, it is the time you leverage AR and make your retail app profitable.
Hope, the blog has cleared your doubts about AR in retail apps.
Still, have any questions about AR in Retail apps? Get in touch with our app consultants: firstname.lastname@example.org