According to Euromonitor research.
The wide range of applications and its potential in the consumer space has placed Augmented Reality (AR) as one of the top global consumer trends for 2018.
According to the latest research from Euromonitor International, AR’s possibilities lie in its ability to bring the benefits of in-store shopping into the home.
“AR improves the consumer experience, providing a more lifelike view of items and facilitates operational efficiencies for business by potentially reducing the return rates,” Euromonitor International head of lifestyles, Alison Angus said. “Online captures consumers’ interest with the convenience of hassle-free, anytime, anywhere, shopping they crave and being able to see and touch product before buying is a bonus.”
Angus said that this is one reason why the in-store shopping experience remains appealing with 88 per cent of global sales in value terms made in-store in 2017.
“Consumer spending in 2018 is expected to grow at its strongest rate since 2011 with consumers continuing to question their values, priorities and purchasing decisions, deepening their engagement in the brands and issues that matter to them.”
The consumer market still faces hurdles, such as country-specific regulations with companies needing to be clear and upfront with consumers about their findings or risk losing their trust, she said. “Things are improving on the regulatory front and with the market continuing to evolve it is likely that further innovative start-ups will invest in new technologies.”