Statistics show that the role of AR apps for e-commerce and online retail has seen noticeable and steady growth every year, from early 2012 to today’s 2020.
Statistics show that the role of AR apps for e-commerce and online retail has seen noticeable and steady growth every year, from early 2012 to today’s 2020. According to studies, however, many online retailers remain ill-prepared or simply hesitant to adopt this emerging mobile technology despite the growing use and appeal of AR apps among consumers. Due to this, it’s important to look at the statistics and at what the numbers mean to understand the new opportunity for AR apps for online retail in 2020.
Augmented Reality for online retail is advancing rapidly, with major brands and e-tailers supporting AR apps to enrich product content, to stay competitive in 2020 and to meet the growing demands of online shoppers. This emerging format for product visuals is especially exciting from both a retailer’s and a consumer’s perspective, as AR offers new ways to view, learn about and interact with products.
In particular, the use of 3D models and Augmented Reality in digital marketing provides brands the cutting-edge over competitors today. This is especially considerable in light of the fact that statistics from recent studies show that 52% of online retailers remain unprepared to support this new mobile tech.
Examine this in the lens of statistics from a 2016 US study, ‘The Impact of Augmented Reality on Retail’, and see the use of AR apps for online retail even then was trending and exposing a new gap in the market.
Compare that to today, with the United States Census Bureau (USCB) estimating that for US online retail in Q2 of 2020 $221.5 billion accumulated, at an increase of 31.8 (±1.2%) percent from the first quarter of 2020. Looking at growth over time, there is also a significant and steady increase, meaning not only more consumers on the market but also stronger competition and more need for innovative product marketing.
The statistics in ‘The Impact of Augmented Reality on US Retail’, together with the steady trend upwards for e-commerce, reveal a significant gap for AR technology emerging in the online retail market. Further, they show new trends in consumer behavior, in digital and product marketing, and in how consumers prefer to interact with product content.
In conducting the study, 1,100 adults from the US were chosen, including both female and male (represented at 58% to 42%), with 40% between the ages of 18 and 34 and 18% between 55 and 64. This group yielded the following results.
For companies hesitant to onboard this emerging mobile tech, the statistics suggest that now is the time to start considering new mediums and especially AR apps for online retail in 2020.
Engaging consumers in the online shopping process is becoming progressively more competitive, but augmented reality allows brands a new way to stand out among the competition. This format provides a truly unique customer experience that not only leads to more sales but also to increased customer satisfaction.
And while the task might seem daunting for some companies, advances in technology are making it easier and more affordable than ever to compile imagery for 3D models for AR apps and to begin including augmented reality in the product experience.
To learn more, feel free to dive into the PhotoRobot blog for more reading on creating 3D models for augmented reality, or reach out to us today for a free consultation with one of technical specialists to discover PhotoRobot’s wide range of hardware and automation software for product photography.