Data Point of the Week is AR Insider’s weekly dive into data from around the XR universe. Spanning usage and market-sizing data, it’s meant to draw insights for XR players or would-be entrants. To see an indexed archive of data briefs and slide bank, subscribe to ARtillery Pro.
One AR business case is shopping assistance. As we explored in a recent report, that’s playing out in e-commerce as well as physical retail. The former includes product visualization (Ikea, Wayfair, Houzz, BMW) and the latter includes in-aisle visual search (Google, Walmart).
eCommerce is opportune but in-store commerce is actually larger. Online shopping is about 10 percent of U.S. retail spending… the rest is all brick & mortar. But that offline shopping is increasingly influenced by mobile interaction, and that’s where AR will take a bite.
With that backdrop, a few data points support the analysis in our AR commerce report. Assembled by CleverTap (infographic below), these data signal efficacy in AR shopping. For one, AR apps generate 2x engagement in retail settings according to Campaign Live.
Further evidence comes from BRP consulting which reports that 50 percent of shoppers are swayed towards brands that offer AR shopping. 32 percent of retailers meanwhile plan to integrate in-store VR and AR in three years. That seems a bit aspirational but is encouraging.
Lastly, 40 percent of shoppers report that they’ll pay more for products, given AR assistance. This says a lot about how much people value their time and convenience: they’re willing to trade dollars for the assurance and convenience (avoiding returns, etc.) endemic to AR visualization.
All of the above should be taken with the appropriate salt tonnage and the standard disclaimer about the aspirational nature of survey data (that goes for our data too). But it’s nonetheless positive signals for AR commerce. This will continue to be a moving target that we watch closely.
Infographic by CleverTap
Disclosure: AR Insider has no financial stake in the companies mentioned in this post, nor received payment for its production. Disclosure and ethics policy can be seen here.
Header image credit: Lowes