DigitalBridge: Augmented reality is changing retail

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DigitalBridge released its latest survey, “Augmented Reality (AR) is Changing the Retail Industry,” analyzing the impact of augmented reality on the retail industry.

Report highlights include:

41% of respondents expect to visit retail stores via augmented reality;

One-third of consumers said they would be more likely to buy a product if they could preview it through augmented reality;

56% of young consumers (18-24 years old) would rather use wearable devices such as Google Glass or Samsung Gear VR to experience AR;

After Apple launched ARKit, one in five shoppers expect retailers to release augmented reality tools (20%).

More than half of consumers have put off making a home improvement in the past 12 months (51%) because they can’t imagine what it will look like once it’s completed;

74% of consumers want retailers to develop augmented reality tools using ARKit;

69% of young consumers (18-24 years old) said they would be more willing to become loyal consumers if the brand provided better technology tools;

69% of young consumers are more willing to buy from brands that offer mixed reality, augmented reality or artificial intelligence technology;

More than half of consumers believe that retailers are not fully leveraging the technology currently available to them.

in conclusion

With the release of Apple's ARKit and Google's ARCore, AR is developing rapidly. The benefits of combining AR in the retail industry are obvious, and 55% of consumers believe that visualization tools are more attractive to them to buy goods. Looking to the future, AR technology will no longer be limited to smartphones and tablets, but will also be combined with wearable technology.

While AR technology is still new, it is certain that it is here to stay. ARKit and ARCore have already brought AR into the mainstream. Just like retailers who ignored e-commerce at the beginning, brands that are unwilling to take advantage of the AR opportunity will lose their competitive advantage.