Snap: retailers are missing out on “huge untapped potential” of augmented reality – Latest Retail Technology News From Across The Globe – Charged

Research conducted by Snap has highlighted the “huge untapped potential” of augmented reality (AR) for retailers.

According to the social media firm, brands’ perception of how consumers want to use AR is still way off.

Snap surveyed more than 25,000 people across 11 markets, in partnership with Ipsos.

It revealed that 94% of brands still perceive ‘fun’ as the main draw for people to use AR.

However, according to the study, only 54% of people think of it this way, with 55% of UK consumers listing shopping as their top reason for engaging with AR.

Users stated that AR makes their shopping experience better, easier and quicker, a further 60% said it helps them shop in new and exciting ways.

Around 82% of brands believe that the use of AR allows them to provide a seamless customer experience, helping to drive conversion.

Another 79% of respondents were interested in using AR to ‘place products’ in their environment to visualise how they’ll look.

Meanwhile 57% revealed they’re more likely to buy from a brand that allows them to try on an item using this technology.

While 77% of people are interested in using AR to interact with a product before buying it, only 48% of brands have implemented virtual try on experiences.

Of those brands already active in the sector, 64% said it improves loyalty and customer experience.

“250 million Snapchatters engage with AR everyday and this report highlights the huge untapped potential of AR for retailers,” Snap head of UK business solutions Fintan Gillespie.

“This technology is transforming the way we shop and it isn’t an opportunity way off in the future – it’s happening right now.

“We’re excited to see the scale of opportunity for brands to showcase products, push creative boundaries, drive value and most critically – improve conversions to drive real business results.”