How To Grow 2x Revenue in Ecommerce in Less Than 6 Months
In 2021, the total estimated worth of global ecommerce market was $4.9 trillion. As the ecommerce industry continues to overflow with buyers and customers who need a mix of mobile and online shopping, there is a high demand for technology that is creative, innovative and works. Augmented Reality is a rapidly growing technology that is starting to have an impact on the eCommerce landscape.
Web AR is the ideal solution to help shoppers with these concerns. In web based AR, users opens a web URL via either scanning a QR code or clicking a button/link from the online site and the AR comes alive. There is no need to download any app as such.
In 2020, many leading companies adopted web augmented reality and received some amazing customer responses. Major brands like Coca Cola, Burger King, BMW, Toyota, Red Bull, Adidas, HSBC, Sony, Netflix, Heineken, Hyndai have launched digital and print campaigns which included web AR.
AR In Boosting Online Conversions
People shopping online are not completely satisfied with e-commerce apps they use. Ideally, they can view the product, but cannot test them then and there to avoid returning it later, which can be a stressful process. They are also not sure about the size and color that matches what they need. Augmented Reality can deal with these issues and help boost dwell times and sales for eCommerce products which translates into more conversions as customers get to try the products from the comfort of their home.
According to a report by Statistica, eCommerce products sales in 2017 hit $2.3 trillion, and this figure is expected to grow to $6 trillion by the year 2024. This shows that eCommerce has transformed tremendously into an advanced retailing platform. And it is expanding rapidly with the help of AR technology.
Increased Feeling of Ownership
In a nutshell, the closer the a consumer feels to a product, the greater their sense of ownerhsip over it and the more they are willing to pay for it. This holds true even the product is digital in nature. One study showed that when a 3D image of a product which consumers could rotate with their mouse was presented to them on a screen, it increased the feeling of ownership by 18.9 percent versus a 2D image of the product.
Taking this a step further, another study examined AR’s sense of presence (that is, how realistic an item shown anchored in a user’s environment through AR looked and felt compared to a 2D equivalent). It concluded that AR has a 174 per cent greater sense of presence compared with 2D images — Source
It would be reasonable to expect such realsitic depiction of a product in a customer’s natural environment to create greater sense of ownership with that customer. With AR, holding the strongest ability of any digital medium to achieve that, its sales potential is beyond question and already proven many times with credible track records.
Conclusion
Augmented reality is here for quite some time. But the recent advancement of the technology has opened a whole new door for retail industry to boost online sales. Gen Z (people born between 1997 and 2015) is more tech savy and prefer online shopping than the previous generations.
Therefore the sooner industries will bring more interactive shopping method, the sales will increase faster. In a post covid19 world, online shopping is more relevant than ever and the trend will not decline with time.
Are you ready to experience a web-native AR app that will make things easier for customers, while paving the way to leverage the full potential of AR in retail? Contact here to get more guidance to consider the next gen profound sales and marketing technology for your business.
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