Retail Innovation

The Retailing work in Singapore is getting more competitive each year. As many malls are approaching in the coming years and also the rentals of the shops is getting at a higher rate. Due to the increase in a higher rate, many international brands have been closed down.   If we look at the other side, we can see that Online Shopping has also not done so good and are not up to date. To eliminate this problem completely the retailers and mall owners are using technological innovation to make a good pace in front of the users and they can survive easily. So, it started from the CapitaLand Mall Trust Management, they announced to redevelop the oldest mall in Singapore i.e. Funan DigitaLife Mall, into an integrated development.
Through this, the mall was converted into an environment which is technology-enabled. This helps to express and display their ideas to the shoppers and help them enjoy their retailing in a technology-enabled environment. The mall also has a face recognition technology, which helps the mall’s shoppers to differentiate according to gender and age.
Also, there are sensors installed in the mall which allows people to see the ideas and offerings in different segments, rather than all the stuff in just one place, it doesn’t create a good strategy for the shop owners and for the shoppers also. Also, the mall, unveiled its own multi-label concept store last year called NomadX. This store is known for experienced shopping because it involves technology when doing shopping, which involves gamified onboarding processes, automated store assistance such as smart mirrors, interactive product walls, and the cashless payment experience.
If we pay more attention to the Brands like we say Decathlon. This brand in 2019 has combined both physical and digital experiences for shopping. It’s a kind of lab which has connected fitting rooms, mobile payment solutions and a conveyor belt which handles all the online orders and also it delivers the products in few hours only, and also if anyone wants to collect the products from the store, they can come within 2 hours and collect products for free. Like this, Adidas also upgraded the way to sell their products to the consumers smartly. In this, the shoppers could view the shoes by pointing their phones at the AR- powered signs placed in the retail store. When using the AR technology it allows brands to collect data instead of focusing on one thing.

Now, AR technology is indulging more in Retail Industry. Here are some ways in which you can make good use of AR in your private retail industry.

1. Virtually try on 3D Products

There are some people who are totally not interested in trying the things which they are buying, so for those and also people who really wanna see that how anything looks on them, and who lose patience very fast. In whole, for the people, virtual apps are used.  For instance, Lacoste’s LCST Lacoste AR app allows customers to virtually try on shoes. Sephora, meanwhile, created a Virtual Artist App with Modiface to show Sephora app users how makeup products will look on their face via their phone’s camera. By the end of 2018, it’s estimated mobile devices will account for 27% of all U.S. retail e-commerce sales.

2. Look at 3D Products at home

When buying Products for home, it’s necessary to check if it fits the space in the space of your home or it matches with the interior of your home. Therefore, Virtually people can place the products which they want to buy and see if it’s good. So, they can easily judge the products without actually buying it. If they like the product they can buy then later.
For instance, Magnolia Market partnered with Shopify’s AR team to create an app that allows customers to see how the brand’s products will look in their homes. Augmented reality helps customers visualize Magnolia Market’s products to decide if the products match the existing furniture, or fit well in the room. similarly, Home Depot released its Project Color app in 2015, which allows users to see how a paint color looks in a room. The AR technology considers lighting, objects, and shadows in the room, so you can get a realistic portrayal of how the paint color will look in real life.

3. Gather In-Store Information

People who are purchasing products in stores, also want that the product should be sustainable.  For instance, American Apparel created an AR app that allows customers to scan signs in-store and pull up product information, including customer reviews, color options, and pricing. Nearly 60% of shoppers look up product information and prices while using their mobile phones in stores.

4. Use Virtual Fitting Rooms

When in shopping people buy stuff they don’t really try in fitting rooms as they have to make a long queue and also some don’t try it, they just purchase it that’s all. So, for customer satisfaction purposes use AR.
Topshop, for instance, partnered with AR Door and used Kinect motion-sensing technology to create a virtual fitting room for customers in their Moscow store. By standing in front of the camera, customers were able to see how clothing items looked on their bodies without physically trying anything on.

5. Build Brand Awareness

Even though augmented reality is becoming increasingly mainstream, it’s still unique and surprising.