The global market for augmented reality (AR) is forecast to grow to \u00a3149bn by 2025, with recent developments such as the launch of Google Lens, ARCore and Apple\u2019s ARKit2 making this immersive technology more accessible than ever before. But despite that, take-up by retailers has been relatively slow.<\/p>\n
With the retail industry in the throes of change, stores have little choice but to innovate to survive. Brick-and-mortar stores are being left behind by the convenience and simplicity of online retailers, but augmented reality could be the trick up their sleeves to help drive footfall in their stores.<\/p>\n
Consumers expect retailers to launch AR apps<\/strong><\/p>\n Outside of retail, the potential for augmented reality is already being explored. The gaming and entertainment industry are at the forefront of creating unique AR experiences, with the Pokemon Go craze that swept the nation in the summer of 2016 showing the scale of what can be achieved.<\/p>\n In contrast, retail has taken a much steadier approach to integrating technology into the customer journey. One of the earliest adopters was the flat pack supremos IKEA, with the launch of\u00a0IKEA Place<\/a>, which gives users the opportunity to visualise what IKEA furniture will look like in their home before they make a purchase. It has been extremely well-received by its customers.<\/p>\n But despite the success of IKEA\u2019s foray into AR, it still remains one of just a handful of stores that are currently using immersive technology to enhance the customer experience. That\u2019s despite the fact that\u00a042 percent of consumers<\/a>\u00a0expect to be given access to augmented reality in stores and\u00a071 percent<\/a>\u00a0said they\u2019d go to a specific retailer more often if they offered AR tech.<\/p>\n The time is now<\/strong><\/p>\n Coupled with ever-falling footfall and increased consumer demand for AR in stores, it\u2019s clear that retail businesses are under pressure to implement the new technology now. A recent survey conducted by Retail Tech News found that a third of consumers believed AR technology could help to streamline their shopping experience and remove some of the friction that prevents a purchase being made.<\/p>\n In fact, more than half of the consumers surveyed said they would like to be provided with relevant and contextual information about a product in-store simply by pointing their phones at a product. With demand clearly there, the challenge for retailers is to work out how AR can be most effectively incorporated into the customer\u2019s journey.<\/p>\n Potential AR applications in retail<\/strong><\/p>\n One of the most obvious applications of AR in retail is to provide an information overlay for products that consumers can access using their smartphones. By pointing their phones at a particular product, customers will be able to compare prices, see additional features and highlight options based on criteria. For example, grocery shoppers with dietary requirements could use AR to pick out gluten-free or vegetarian alternatives.<\/p>\n\n
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