Virtual try-on apps make online shopping more convenient. AR stock analysis tools are simple. Pokémon-like games entertain and entice people out of the game room. Many examples exist of how Augmented Reality (AR) and Virtual Reality (VR) are making our lives easier.
Definition of AR and VR
Augmented Reality is a technology that overlays digital objects and information over the real world. Virtual Reality creates a virtual environment. Both technologies are related but distinct in many ways. Both use spatial computing but deliver a unique user experience.
Their applications are vast, and they allow us to digitally augment the real world. Examine why these two technologies are gaining popularity, why they are necessary now and in the future for every business.
Here are five key reasons:
1. Risk-free workforce training
AR makes industrial training more immersive, interesting, and safe. Training new employees is essential on the factory floor, where risks are high and safety is paramount. They can be accurately trained and their performance evaluated in a simulated environment without high costs, equipment damage, or fatalities on the shop floor.
2. Making Customers Feel Special
Consumers love to try out new ideas. With Augmented Reality, any business can innovate and control a large portion of their consumer base. For example, when Snapchat introduced its new AR filters, it saw a huge increase in users. Similarly, Pokémon had 28.5 million users in its first month and generated $100 million in 20 days. According to a survey, nearly half of customers prefer shopping at stores that offer AR and VR.
3. Help us get more out of the data we have
Companies started having issues handling big data as soon as the age of big data began. 2D data became difficult to interpret in 3D. So, everyone needed something to fill this gap and provide complete data exploitation.
Augmented reality brings the digital world into the real world, bridging the two worlds. These help people get more out of data.
For example, a daily survey revealed over 2.5 quintillion bytes of data. Using AR to visualize data makes it easier to harness and analyze huge amounts of data for actionable insights.
4. Enjoy Impulse Shopping to Increase Your Selling Rate
AR/VR gives consumers an immersive experience that sometimes makes them buy something they didn’t intend to buy. Technology influences people’s shopping habits, increasing consumer numbers. 72 percent of people say they bought a product based on a unique experience.
These technologies attract people, educate them about products, businesses, and services, encourage them to explore, interact with people and products, assist in decision-making, and answer their questions. Overall, augmented and virtual reality are changing how people see, think, and react.
People must consider the use and implementation of technologies as they become more prevalent. Those who already use it can improve by exploring their potential. Those who aren’t using it should start planning their strategy and not avoid game-changing technologies.
We must keep an eye on the market for new technology innovations and developments, and adapt and grow with the right technology implementation at the right place.
5. Your Store Can Beat Online Shopping
Online shopping stores like Flipkart, Amazon, and Myntra changed the way people shop. It is fair to say that it makes every retailer consider their services. People prefer shopping on these platforms to going to stores. They prefer online shopping because it is more convenient, easier to explore all products, and easier to interact with them. Tanishq is introducing AR apps in some of its stores so that customers can select and try virtually any item. This makes shopping fun and easy for consumers.
AR and VR also help you engage customers without employees. They can learn more about a product in the store before buying it. They can also learn about other people’s opinions on a product by scanning a QR code on an AR/VR app.