Augmented Reality: A Game-changer For Brands & Consumers Alike
Technology has been a game-changer for every industry and has completely changed how we approach presenting our products and services to our ideal customers. Augmented Reality (AR) is one tool that has introduced a whole new approach to mankind by transforming the shopping experience for industries like interior design, ecommerce and more. It has proven to be one of the most engagement-generating factors and one that is redefining how customers interact, engage and immerse with brands.
Thanks to AR, customers can now engage with multiple product choices and visualise how that would look in reality. With the home decor industry in particular, the introduction of AR has made it possible for customers to select everything right from carpets, sofas and fabrics to decorative items, accessory colour combinations and a lot more without being confused about whether or not the products purchased will look good in the space.
But how exactly does Augmented Reality facilitate sales for brands?
Augmented reality works by customising both sales and marketing experiences to the customer at an individual level. With real-life immersive experience generation, AR enables customers to understand and experience the product features in their real environment. One great example is the popular application “View in Room,” which has been changing the game for the home decor industry.
Customers can conveniently browse furniture and use AR to check if the product they select harmonises with living spaces, including other furniture items within the room. Customers can research 3D representations of all the sofas on their smartphones, save for consideration at their convenience, or purchase them on the spot. This has made the virtual shopping experience much more impressive and reflects the reason for the massive growth the augmented reality market has been witnessing.
The augmented reality market was valued at $14.7 billion in 2020, and it is projected to reach $88.4 billion by 2026. This would imply breathtaking compound annual growth (CAGR) of 31.5 per cent between 2021 and 2026.
Enabling a holistic and personalised experience
Breaking down the barriers of visiting a physical store, Augmented Reality technology reinvents this process by smoothly allowing a customer to locate items in the respective store. That is to say, with the
augmented reality-enabled navigation tool, the customer can walk virtually along the store's aisles, making his searched product much quicker. In turn, this is time saved, which he used up in the shopping process.
From a try-before-purchase aspect, customers will have enhanced coordination with products through augmented reality and advanced visualisation. These pictures will assist the customer in understanding every detail of how each room will look right, from the arrangement of the room's furniture to the colour that needs to be painted on the wall. They can also check every single room in detail so that they can check details and make their spaces according to preference.
Sense of Ownership
Owning and decorating a house is undoubtedly the most beloved moment for any person. Thus, home decor becomes a great add-on to this home-owning experience whereby one wants to feel a deep connection with products before purchasing. This opens up the possibility of potential customers engaging in direct experiences with the product, empowering them to make decisions from an informed judgment. Augmented reality ensures that this is achieved by adding value to the quality and depth of these engagements, therefore just enhancing the likelihood that a consumer will make the purchase.
Enhancing Emotional Engagement
Emotion forms the keystone of determining purchasing decisions, especially regarding homes, since they are the overall prime movers of consumer behaviour. The relationship of emotion with a product hugely amplifies the likelihood of the purchase of it. Augmented reality could strengthen these emotional connections by enlightening customers with positive and relative feelings towards the product. AR enables brands to develop permanent emotional links with customers by creating shopping experiences that are immersive and engaging, improving the customer's ability to reach out and relive such enriching experiences time and again.
It's projected that by 2030, augmented reality will dominate every marketing niche and change the trend from static images of products to written descriptions. AR technology offers customers an experience where they can view, interact with, and even tailor products for their home décor space. This model enriches the customers’ experience and offers a variety of benefits for sellers, ranging from enhanced engagement to higher conversion and lower product returns.
With AR becoming increasingly cheap en masse, home décor gets more approachable to people and is set to take centre stage. From virtual design consultancies to in-store magic mirrors, the future of AR integration in home decor products looks set to shake up consumer engagement like never before. It's exciting to think that this could be the beginning of a long journey into the possibilities of AR technology for the future of home decor.
(Rishi Sharma is the Chief Marketing Officer at Bonito Designs)
