With the rise of technology, augmented reality is taking the world by storm. Many consumers are more familiar with virtual reality because it allows total immersion into a new reality, however, augmented reality is proving itself to be more profitable (according to market research firms like Zion Market Research and Greenlight Insights) and is expected to surpass VR in terms of technology. Although it sounds like a concept that would not be readily available to the public, the average consumer has probably used AR on more than one occasion. Popular apps like Snapchat and Instagram have made augmented reality available at our very fingertips by creating fun filters that allow dinosaurs or aliens walk across our living rooms.
AR, however, can be used beyond entertainment purposes and is currently becoming extremely profitable for big business as huge multibillion-dollar companies are adopting this technology. For example IKEA, one of the world’s most popular furniture stores, has adopted this new technology by creating the IKEA Place app which allows consumers to virtually place the furniture they are interested in anywhere in their home. According to IKEA’s website, this fun feature is not only practical for the consumer but since the adoption of AR, their website had boasted over two-billion visitors in 2017 alone. Not only does the consumer not have to leave their home to see the furniture they are interested in, but once they see how it would virtually look like in their home, they have the option to buy it right then and there.
Another company that has adopted this technology is COVERGIRL. By allowing consumers to perform “virtual makeovers”, consumers can see how products would perform on them while saving the company thousands of dollars by eliminating product waste. Clearly the integration of AR in business is working because their competitors such as Mary Kay, L’Oreal and Maybelline have adopted the same technology.
An example of AR technology in the advertising space can be found on one of the most populated apps amongst users, Instagram. Kylie Jenner, the owner and founder of Kylie Cosmetics, has a face filter available to all users to promote her Lip Kit line. The filter promotes seven of her extremely sought-after Lip Kits with each shade name correlating to the color of lipstick that the filter applies to the user’s face. Users can “try on” each shade and see which shade suits them best and share the photo or video story with their followers. The filter also allows users to be directed to her Instagram profile, where the link to Kylie Cosmetics is located. This link prompts users to buy the Lip Kits being advertised.
AR technology is beneficial for marketers and advertisers because not only does it provide incentive for consumers to visit their sites to use the cool and interactive technology, but it also allows advertisers and marketers to be more creative with their advertisements since the opportunities with AR are endless.
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