There are a number of key benefits of augmented reality for the retail industry, according to a recent report in The Guardian. After the initial set-up costs, retailers need to make shoppers aware of the benefits of such online shopping in physical stores in the hope that they will embrace the services and make them part of their purchasing routine.
Consumers are also more likely to make purchases online if they have access to WiFi in a relaxing environment e.g. a coffee shop. Other retailers are still likely to offer such services in the future. Music and fashion are two areas of retail that are very suited to the innovation.
Music retail
Such technology could potentially allow music covers to be used to launch music and video samples that can be viewed on mobile devices. One music retailer recently provided the technology for customers to scan DVD covers to view film scenes and information on the characters.
Fashion retail
Clothing retailers could use augmented reality technology to enable shoppers to view fashion show videos. In-store brochures, CD covers and store magazines could also be used in conjunction with the technology.
The UK’s biggest retailer, Tesco, recently introduced the Virtual Mirror, the Endless Aisle and virtual merchandising applications to some of its stores – engaging shoppers and helping to grow sales in the physical space. While we are still waiting to see widespread implementation of this innovation on the high street, there is obviously huge potential benefits for retailers to embed augmented reality technology in the customer’s decision-making process for any purchase.
© 2013 Profitero
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Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com
