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How are retailers using AR to increase sales?
- The overall impact on purchasing: 41% of AR users admitted that they prefer using it due to deals and special promotions. So retailers got one more powerful instrument to entrap customers to store, connect them and communicate with them, while customers may use AR to provide more wise decisions and buff their own shopping experiences.
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Image source: Augmented Reality trends. Markerless AR. A.k.a. location-based or position-based augmented reality, that utilizes a GPS, a compass, a gyroscope, and an accelerometer to provide data based on user’s location. This data then determines what AR content you find or get in a certain area.
By 2022, Statista predicts the retail sector will represent 5% of the augmented and mixed reality software market, and it’s forecasted AR in retail will equal about $80 billion in 2022. The last few years turned out to be hard for many both online and offline stores.
AR is shifting more to industrial use. (Source: Forbes) Most people already know about AR via gaming. However, AR stats for 2021 reveal that AR companies are tilting towards industrial applications (65%) rather than custom software. 6. By 2024, the number of mobile AR users will reach 1.73 billion. (Source: Statista)
AR-based food items or AR apps can act as a tool to get data related to customer preferences. AR-based restaurant app can have features that give data on trendy dishes like the time your customers spend on exploring promotional features and collect answer from surveys to offer valuable data to owners.
AR app may help to unlock the extra information or digital objects from the promotion materials, and that’s just one use. The AR technology also gives the opportunities to collect information about the customers and to offer personalized advertisement. It stimulates the retail sales and fans engagement.
In 2021, 17.7% of people will use VR in the US. Virtual reality market statistics predict that 58.9 million and 93.3 million people in the United States will use VR and AR respectively at least once a month this year. It accounts for 17.7% and 28.1% of the total US population.
Amazing, productive AR experiences represent a competitive advantage and a promise to drive growth by increasing customer engagement, attracting new shoppers, and boosting conversion rates.
So here we are now with 5 mobile AR application domains with use cases. The ideas behind some of these have turned into startups, delivering value for businesses and users alike. 1. AR in Event Planning. AR Cube. AR Cube is a mini-information portal. It is basically an interactive cube that serves as single go-to storage for all the key event information.
How the Sources and Uses of Cash Schedule is Set Up . Step 1: Purchase Price. Calculating the Purchase Price to acquire a target business or asset is the first step in determining how much cash is needed and where it can be obtained from. The source of financing may be either known or assumed. Step 2: Uses of Cash