Augmented reality is a form of technology that allows customers to experience products and services digitally. It is also changing the way merchants conduct their business when it comes to reducing returns and increasing customer satisfaction.
According to data provided by eMarketer, the number of augmented reality users was at 59.5 million in 2018 and 72.8 million in 2019. By the end of 2020 and 2021, the number of augmented reality users will reach 83.1 and 90.9 million respectively.
There are several uses of augmented reality and how it can aid in increasing the number of business transactions, which results in higher revenue. A mobile game called Pokémon Go is a prime example of this. Smartphone users who have downloaded this application must turn on their location in order for the game to function in the first place.
When the augmented reality feature is also switched on, users can see Pokémon interacting with the user’s actual environment. This both makes the game experience more memorable and engaging, encouraging users to partake in micro transactions that would give them an in-game advantage.
Another example would be what LEGO stores are doing to enhance the customer experience and improve sales. When visitors reach a destination within a LEGO store, they can strike a pose with a mini figure by using an in-store application. This application uses augmented reality technology to place digital characters into the world of users and vice-versa.
A retail store such as Uniqlo is also in on the augmented reality game. It implemented its Magic Mirror tool to not only make the shopping experience easier, but also help customers picture themselves in a different selection of clothing. The technology acted as a virtual dressing room, allowing customers to change the patterns and colours of selected clothing.
Such experiences with augmented reality is not limited to only brick-and-mortar stores, either. Snapchat, for example, has a feature where different lenses can be implemented by users. These lenses create unique visuals that businesses can leverage for their marketing campaigns. This can be done by promoting lenses for special occasions and events that have a target audience.
As merchants work their way through the coronavirus (COVID-19) situation, a way to to stand out against the competition would be through the use of such augmented reality technology. Such an innovation would not only help reduce the number of returns by letting customers experience items and products digitally, but also improve the overall experience of shopping online.
Merchant Broker is ready to help businesses with that online shopping experience. Whether your business strategy encompasses the use of augmented reality, virtual reality, or other innovative forms of technology, the Merchant Broker team will work closely with you to achieve your business goals.
For a personalized approach that will add value and save you time, contact the Merchant Broker team at either 1-888-668-0733 or firstname.lastname@example.org. We cannot wait to work with you and provide your business with the best payment solutions available.