Augmented reality is an ecommerce technology changing the way people buy online. Different from virtual reality in which the real world is replaced by the view inside virtual reality headsets, augmented reality blends online, mobile and real-world experiences.
According to the Walker Sands Future of Retail 2017 Report, consumers still enjoy the ability to touch and try a product. It’s the main reason why shoppers still prefer physical stores over Amazon and eBay.
Augmented reality helps recreate that from the convenience of their home factor. It answers the practical questions of, “How will this look on me?” or even “Will this sofa match my wallpaper?” It neutralizes the fear that a product that looks good onscreen won’t work in real life.
Heavy investment means augmented reality pioneered by the big companies, will rapidly become more affordable and a more pervasive e-commerce technology. Digi-Capital estimates that by 2020, the market will reach $120 billion, with e-commerce taking 30% share. That’s just three years away, but not impossible given the great amount of research that’s going into new e-commerce technologies. In the first months of 2016, augmented reality investment reached a record $1.1 billion. That’s more than enough for companies to push …read more