Augmented Reality in Retail – Thematic Research
- Pages: 38
- Published: January 2021
- Report Code: GDRT-TR-S018
Augmented reality is an example of a technological initiative that can alter and advance industries for years to come. AR technology creates an advanced view of real life by overlaying computer-generated content and has a myriad of potential uses. The retail industry is a particularly fertile ground for AR and with increasingly steady investments in AR from big tech companies, AR could be a stronger initiative to explore in the very near future. AR has the potential to completely alter the way consumers shop and the way companies operate behind the scenes. Retailers can utilise AR to address some of the key challenges they face today and introduce exciting ways for consumers to interact with the physical environment around them; making the users experience more memorable and personal. With COVID-19 acting as a catalyst for consumers to navigate more towards the e-commerce platform, several retailers, specifically furniture companies, reliance on allowing consumers to visualising products acted as a lifeline. Hence, the pandemic has provided retailers with the opportunity to see the value and convenience that AR can provide. This report discusses and explores segments of the AR value chain, the challenges that retailers face in the adoption of AR, the impact of AR on retail and specific case studies, leading companies in the AR space and provides a timeline and market size and growth forecasts for the AR market.
GlobalData delves deep into the theme of AR and specifically focusses on the impact of this technology on the retail space. The report provides an overview of AR and the essential components needed, and discusses retailer challenges, case studies of AR use in the retail domain, leading companies creating and/or utilising AR. The report also provides market size and growth forecasts and provides a timeline for AR developments. We explore how the current climate has acted as an impetus for retailers to embrace AR and how AR will play out in the retail market over the years to come. The report spotlights the key challenges faced by retailers for further AR roll out and the significant impact that AR can have on the retail space, changing not only the way consumers shop but also the way companies operate.
The retail industry is undergoing digital transformation, fuelled by changing consumer demands. AR will be an initiative for retailers to further explore, especially given the value of AR highlighted by the pandemic.
Mainstream adoption of AR will only occur once vendors can change public perception in favour of AR and tackle key issues such as high price, bulky design and security.
AR will help to accommodate the accelerating shift to online, help resolve overcapacity and help retailers to adapt to the new retail model.
AR will have a major impact on helping retailers shift form product to experience and will boost consumer engagement and customer loyalty.
Reasons to buy
Break down the components of AR and highlights the leading companies operating within each space, allowing you to gain insight into the fundamentals of AR, the technology behind it and key advancements to watch out for.
Gain an understanding of the challenges that retailers face when embracing AR, whilst also developing an understanding of the potential impact and uses of AR for retailers.
Discover success case studies in the market and learn how to adapt your business to harness AR in the best way
Explore how AR has helped combat the ramifications and challenges imposed by COVID-19 and learn how to tech-enable your business to futureproof against future uncertainty
Explore AR initiaves and how they can change the retail landscape and affect your business and business model
The Home Depot
Table of Contents
Impact of AR on Retail
AR and Online Shopping
AR and New Retail Model
AR and Overcapacity
AR & Experience
AR and COVID-19
Market Size and Growth Forecasts
Augmented Reality Timeline
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