Retail & Fashion
Immersive Experience
experience that benefits both customers and the brand.
VR & AR BENEFITS FOR RETAIL & FASHION
Did you know that you can...?
– save your return rates just to 2%
– increase the number of customers who are willing to pay extra by 47%
– have up to 94% conversion lift
– up to 174% increase in revenue
– have 71% of customers buy more often
MARKET VISION 2022 FOR THE RETAIL & FASHION INDUSTRY
Have you heard that...?
– the return of this market will increase to roughly 2.25 trillion U.S. dollars by 2025
– by the end of 2022, over 120,000 stores will leverage augmented reality
– the global AR and VR in retail are expected to grow at 24.8% CAGR to reach US$17.86 billion by 2028
– 3 of 10 customers want virtual dressing rooms instead of going to a store for clothes
– VR provides unique avenues for improving brand awareness and making business processes (like training) more effective
Solutions
Try-before-you-buy
This tool can be helpful in online shopping and physical stores. In stores, AR technology projects the virtual image of the body, and customers can check out how the dress will look after they wear it. While online shopping, users can try out different clothes using the AR application.
Product placement
Virtual product placement and merchandising allow R&D, marketing, and merchandising teams to test and understand the variables that drive consumer choices while creating a connection between the buyer and the product, which increases the likelihood of a sale.
Social media filters
Social media filters create a memorable experience for the users, perfect for increasing brand recognition and improving customer loyalty. Businesses make up One-third of the most viewed Instagram stories.
In-store navigation
In-store navigation reduces uncertainty and confusion and the amount of time the individual spends in the store. Meanwhile, the number of purchases increases because in-store navigation has made shopping more precise.
Product launches
It is a cost-effective way of showcasing a product without the need for expensive shipping and returns costs for customers to try on products.
Virtual tailor
Virtual tailor tool can get perfectly fitted outfits with the precision of AR technology. It utilizes different machine learning technologies to provide highly accurate and precise body measurements for customers.
VR showrooms
This type of event creates high customer engagement and brand association, allowing guests to experience the event up close and personal, all from the comfort of their homes.
360-Degree video
VR for fashion retail, apparel, and footwear employs 360 videos as a new way to market its content intelligently. These videos are engaging and bring excitement to customers as they haven't experienced anything like this before.
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