Buzzworthy Insights – AR Technology in 2022
AR Technology in 2022
The hype of the Metaverse has created a big buzz around AR technology, with 76% of consumers having used AR one way or another, according to a new Camera IQ survey. Of the 24% that haven’t, half are hoping to do so in the future. As for what AR is being used for, the most common experience (39%) was product visualizations, virtual try-ons of clothing (36%), makeup & accessories (36%), and playing games on their mobile devices (32%). (View source)
When asked which parts of the online shopping experience they would be interested in using AR for, according to a recent survey from Snap:
During the past couple of years, we have seen a rapid transformation towards the omnichannel experience, and the online aspect for many brands is lagging behind as 91% of consumers encountered at least one problem while shopping online last year, according to a recent Coveo survey. Where consumers encountered errors, 35% note slow websites, 34% not finding what they want, and 29% find the site or app to be disorganized / hard to navigate. When it comes to personal data, 40% choose to remain anonymous via guest checkout, and 51% would be more likely to share data with a brand they trust.
There was a clear generational difference between Gen-Z and all generations, with Gen-Z willing to pay more for something new (54% vs 44%), receiving tailored recommendations (53% vs 44%), or if they could find products quicker (60% vs 52%). (View source)
Fischer Price Reimagined
Experiential retail has taken over a section of any brand’s mindset, from sportswear to toy stores, Fisher-Price’s Play Lab will be getting a revamp to celebrate their 60th anniversary by bringing the focus to how children experience toys. The Play Lab will feature eye tracking technology that captures feedback from a child that enables a team to “see a toy through the eyes of a child”. This tracking, along with facial expression tools, will be enhanced with technology called Observer XT Software that allows a team to easily visualize and interpret the data. In addition to the new experience, Mattel has launched newly approved products that utilize the findings they have observed through the Play Lab. (View source)
Walmart Expanding Virtual Services
Social commerce has seen explosive growth in the past year and is expected to continue, Coresight research recently indicated the industry to reach $25 billion by 2023. Walmart has taken notice, after the success of their holiday season livestreaming events, they are extending their partnership with Talkshoplive to showcase livestream shows featuring Black-owned brands, women entrepreneurs, and baby products.
Walmart’s omnichannel presence is taking an additional step forward with the unveiling of virtual fitting rooms. Using software from the acquisition of Zeekit, Walmart online customers can upload a photo of themselves or choose from a series of models that best represent themselves, click on items of clothing to see how it would look on them, and share the outfits to others via social media. (View source 1, source 2)
Amazon Refocusing Brick and Mortar Expansion
Amazon has taken the forefront of online shopping, with many now starting all product journeys through their marketplace, it only makes sense to close physical locations as a mere 3% of their $137 billion in sales last quarter were from physical sites, a majority being from Whole Foods. Due to this, Amazon is closing all 68 of its brick-and-mortar stores within the US and UK that are bookstores, pop-ups, and their 4-star stores. Workers at these stores will receive severance or help finding jobs at nearby Amazon locations. (View source)
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