Augmented reality: companies failing to keep up with consumer appetite - The National

Consumers successful the UAE are importantly outpacing companies erstwhile it comes to involvement successful utilizing augmented world experiences, showing however the exertion has been capable to power acquisition decisions, a survey from Snapchat has found.

Around 85 per cent of consumers successful the Emirates are funny successful utilizing AR to interact with a merchandise earlier buying, and 70 per cent said buying is their main crushed for utilizing AR, the Snap-owned photo-sharing level said successful the report, which was made successful co-operation with Paris-based probe steadfast Ipsos.

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Compared to companies, user involvement leads by a wide borderline crossed the committee successful large categories, including navigation, merchandise information, acquisition and travel, it showed.

However, astir companies that person utilized AR reaped the benefits: much than 3 quarters said their marque consciousness improved aft implementing AR, the study said.

"Our integer satellite is designed for discovery. Consumers are accustomed to sifting done messages, notifications and ads from aggregate channels to prosecute with brands astatine speed. It’s nary longer capable conscionable to person large content," the study said.

"The situation for brands? To interruption done the sound and found their beingness successful this large environment."

Companies are progressively considering integrating AR into their merchandise pitches arsenic it has the imaginable to supply a much close acquisition of their products, immersing would-be buyers into their situation without the request to beryllium physically present.

It is portion of the alleged experiential e-commerce, successful which products are promoted utilizing augmented and mixed realities, on with associated hardware specified arsenic headsets and wireless controllers.

The biggest companies are getting progressively progressive successful the sector. Amazon, the world's largest online marketplace, already has a work called AR View, which lets customers presumption products successful 3D and adjacent presumption definite products specified arsenic furnishings successful their homes earlier purchase.

Meta Platforms, the institution formerly known arsenic Facebook, is promoting the metaverse, portion iPhone-maker Apple is rumoured to beryllium preparing to motorboat its ain AR glasses.

In the UAE, Magnati, the payments concern portion of First Abu Dhabi Bank, successful June unveiled a caller metaverse platform, Magnati-MetaV, which aims to connection consumers entree to the increasing experiential e-commerce conception and boost retailer revenue.

The planetary AR marketplace was valued astatine $25.33 cardinal successful 2021 and is projected to turn astatine a compound yearly complaint of much than 40 per cent from 2022 to 2030, according to Grand View Research.

AR successful shopping, successful particular, has gained ground: portion 88 per cent of brands hold that AR expands the scope of covering and footwear that customers tin "try connected easily", 72 per cent of consumers said AR makes the buying acquisition "easier".

"AR helps consumers consciousness assured astir their purchases. It allows them to visualise, stock and stitchery feedback earlier making decisions," the study said.

For businesses, AR tin perchance thrust revenue: interacting with products that person AR experiences leads to a 94 per cent higher acquisition conversion rate, portion 84 per cent of brands who usage AR said it helps thrust sales, get caller customers and thrust show metrics, it said.

The technology's effects besides widen beyond sales. About 3 quarters of brands who usage AR said it boosts lawsuit loyalty, portion 96 per cent of consumers assertion they would beryllium "interested" successful utilizing immoderate post-purchase AR experiences, the study showed.

The survey besides revealed that AR tin go a origin successful promoting sustainability successful retail, arsenic being capable to effort connected products virtually volition astir apt trim merchandise returns, compared to a non-AR acquisition that puts consumers astatine hazard of "guessing" with their choices.

"This means much close choices and little returns — helping brands to prevention wealth and trim their biology impact," it said.

Updated: November 03, 2022, 8:04 AM