The concept of virtual reality has been around for a while. But only recently has augmented reality joined the party. How consumer-facing companies are harnessing these types of technology vary. But as with 3D printing, the goal is always about providing the customer with a customized and personalized experience.
For example, according to a 2016 Deloitte study, 84% of shoppers say that they use a digital resource before or during their visit to a store. While consumers still rely on their brick-and-mortar experiences to interact with products, digital technology presents a huge opportunity for retailers to provide an enhanced experience for their shoppers.
Organizations who are making forays into the world of reality include Amazon. With its recent purchase of Body Lab and its patent for an augmented reality mirror, they are envisaging a future where shoppers can ‘try’ things from the comfort of their own home using smartphone or desktop apps.
Ikea are another example. The Swedish home store have created virtual showrooms as it aims to to increase foot traffic while reducing footprint. We expect this model to be the norm for online-only retailers in the coming years.
Augmented Self: Up close
The future will be determined by those who are willing to reinvest, adapt and turn future threats into opportunities.