The pandemic’s effects on the corporate world have been anything but meager, and with the supply chain issues, higher inflation and other hurdles, many organizations have found themselves searching for new ways to improve their businesses during challenging times.
One solution that shows promise is augmented reality (AR), an interactive digital experience that mimics the real-world environment, where objects that reside in the real world are enhanced by computer-generated perceptual information. Augmented reality has proven to be an important enhancement for online experiences.
The Impacts of Augmented Reality
Tech industry analysts and visionaries say augmented reality will revolutionize the ecommerce industry, and with an influx of consumers switching to exclusively shopping online, businesses need to present products in the most data-rich manner, going beyond just simple photographs or descriptions.
According to the United Nations Conference on Trade and Development (UNCTAD), the COVID-19 pandemic has forever changed online shopping behaviors. UNCTAD Secretary-General Mukhisa Kituyi stated that the acceleration of online shopping globally underscores the urgency of ensuring all countries can seize the opportunities offered by digitalization as the world moves from pandemic response to recovery.
These opportunities can be seized upon by the use of augmented reality, a proven set of technologies that can greatly help businesses expand their digital efforts. Here are some of the opportunities AR brings to ecommerce:
- Up to 4x Higher Conversion Rates – Since 2020, conversion rates have risen as high has 94% among users who engage with AR for retail experiences, according to a recent study from Shopify.
- Up to 40% Less Returns – In ecommerce overall, 15-40% of all purchases are returned. Thanks to augmented reality, merchants who use 3D AR visualization strategies have seen a 30-40% reduction in returns since implementing the technology.
- Average 75% Increase on Orders – A recent article from Forbes stated that augmented reality has boosted online shopping sales up to 200% over the past few years, leaving ecommerce sites with a staggering increase in profits.
- Ease Supply Chain Issues – Thanks to 3D visualization and the “see it in your space” feature, AR has eased multiple supply chain issues by removing the need to wait for ships and trucks to sell products to consumers.
- Higher Value Orders – AR has also had an impact on products that are more expensive, indicating that AR could increase overall revenues for retailers. Retailers selling premium products may utilize AR in order to improve comfort and reduce customers’ hesitation in the purchase process.
Getting Started with Ocavu
Optimizing conversion rates, decreasing returns and easing supply chain issues in eCommerce is Ocavu’s specialty. Ocavu’s patented technology has shown an increase in conversions by 4x, lower product returns by 30%, and increased customer stickiness by 50%.
To contact us or book a demo today, just follow the link here to get started. Our customers like their shopping experience to involve 3D and we think you’ll like it too.