The augmented reality (AR) shopping market is expected to grow from $3.4 billion in 2023 to $11.6 billion in 2028, with a compound annual growth rate of 28.0%, according to a new report from the Associated Press.
The increasing popularity of online shopping and e-commerce platforms, the growing demand for personalized shopping experiences, and the increasing penetration rate of smartphones are some of the main factors contributing to the growth of the AR shopping market. These devices use components such as displays to add virtual elements to the real world, which can improve the consumers’ shopping experience.
AR is being rapidly commercialized
Undoubtedly, AR technology after the exploration trigger period and the universe period, is gradually turning to the rapid development period, the head enterprises and entrepreneurs have also begun to AR hardware products, software technology, content applications and platform channels, and other aspects of the layout, to enrich the AR ecology.
More importantly, as an important bridge between the virtual world and the real world, AR, especially the scene application, has received the layout and capital attention of many institutions. For now, AR augmented reality has an emerging application field, namely shopping.
According to the industry evaluation, through AR to reshape the consumer experience, AR will solve the marketing and promotion problems that have plagued the brand for decades, and AR will bring endless creative possibilities.
（1）AR will bring new ways of shopping and interaction that can help brands increase consumer engagement, optimize consumer experience, and increase revenue.
（2）The impact of AR on brands: Many people use AR previews to help shop online, and this trend will continue.
（3）AR attracts consumers’ attention, which is twice the visual attraction of non-AR advertising, and is more impressive and can get stronger feedback from consumers.
（4）AR has narrowed the distance between brands and consumers, and 41% of respondents said they would prefer to consider brands launching AR content.
56% of consumers agree that AR buys online, which makes them more confident, and more than half of the respondents tend to use AR to view products and simulate online trials.
AR has penetrated the daily life of consumers through advertising, marketing, entertainment, social interaction, and other aspects. This new media will help to further strengthen the relationship between the brand and customers, and enhance the experience of products and services. In the future, when AR and visual computing become natural search engines, learning platforms, and information visualization media, they will become more popular.
AR shopping is a brand-new consumption experience, which cannot be ignored. Companies that accept this change will seize the dominance of future markets. For example, Google (GOOG) and other Internet technology giants have different degrees of layout. According to the data, Google has added the function of trying on shoes for its AR Shopping service, so that users can understand their favorite products.
WiMi Hologram Cloud: The AR + AI application for virtual shopping
At the same time, Google is not the only one. WiMi Hologram Cloud (NASDAQ: WIMI) has also realized the importance of virtual technology- -which can help consumers have a more comprehensive shopping experience. It is understood that WiMi Hologram Cloud is a holographic AR digital marketing solution provider, in the field of holographic AR hardware and software technology in the field of several years of research and development experience. After years of accumulation and precipitation, AR marketing tools and online panoramic store shopping were launched. Continuous innovation in AR, allows consumers to preview the actual size of the items they buy at home and help consumers make decisions on buying furniture and decorations.
Relying on the mature AI visual design team foundation, WiMi Hologram Cloud deep excavation of AR live broadcast technology, online AR shopping business, to provide more services for customers, covering many industries and many fields. Shopping in the live broadcast can create virtual and real integration scenes so that consumers can experience immersive consumption content and improve consumers shopping experience. WiMi Hologram Cloud Not only provides a marketing service platform for consumers, but more importantly, it provides it with a full range of AR services. With the support of the technical core, WiMi Hologram Cloud can create AR shopping filters based on the product’s 3D model in just a few minutes. Product price changes or out-of-stock can be automatically updated in real-time on the platform, bringing practical convenience to consumers.
It is worth paying attention that the current AR virtual marketing market competition is fierce. With WiMi Hologram Cloud’s deep cultivation in the AR field, it occupies an important position in the AR industry. Combined with the market development, virtual reality content ecology, business model, and other conditions, WiMi Hologram Cloud will accelerate the landing speed of AR + AI business scenarios in the future. With the help of AI technology, we can upgrade user experience, establish diversified competitive advantages, promote new AR shopping experiences to many brands and consumers, and help merchants establish targeted marketing and intelligent recommendation capabilities in the future, and improve operational efficiency.
To sum up
AR + e-commerce has gradually become a new trend, and more and more e-commerce platforms participate in it. According to a survey conducted by Deloitte, the AR shopping market can maximum exceed $100 billion and has a user base of more than 100 million. Deloitte also believes that the influential and attractive AR content in the future will cover four major application scenarios, namely: V (Vision and Visualization) I (Guidance and Information) C (Social and Collaboration) E (Entertainment and Interaction). In terms of details, V refers to AR for fitting, furniture preview, etc. I refers to AR use refer, C refers to AR remote collaboration and online meetings, E refers to AR live streaming and games, etc. In short, the AR that puts virtual information into the real world is more acceptable and the market opportunity is closer than letting people live in computers.
