We’ve been following Augmented Reality (AR) and Virtual Reality (VR) and predicted that AR would outpace VR. So far that seems to be coming true. What’s interesting is that AR came about in the 1960s but went nowhere quickly because it wasn’t really viable. But when mobile came along, it caught like wildfire. Unlike VR, which is still pretty niche and expensive for hobbyists and architects, the cost of entry is near $0 and it’s accessible to just about everyone with a mobile phone. But where do we see it going next? What have companies gotten right and what have they gotten wrong? Listen to this podcast to explore the future of AR with us.
The first VR headset, the HTC Vive, was an amazing, take-your-breath-away experience. Unfortunately, some of the all-in-one options that followed were not. Those bad experiences turned people away from VR despite the initial wow factor. Interestingly, the first experience with AR for many was anything but compelling. So, it's kind of interesting that, despite that experience, we still see AR outpacing VR. But this adoption standpoint isn’t because it’s easy to create amazing experiences – it’s because it’s easy to deliver via everyone’s phones and tablets. The impact is great and the possibilities continue to grow with cell phones at most people’s fingertips.
AR is Transforming Retail
There are many retailers who have figured out how to invest in and use AR in a smart way that improves customer experience and impacts revenue. For example, stores like Home Depot are giving people the opportunity to see how a product looks and fits into their own space at home. Not only do they see that it’s a worthwhile investment because their app usage has gone up, but it also increases the likelihood that a customer won’t return an item. Overall, retailers have seen a 112% conversion rate through the use of AR and a 35% decrease in returns.