Introduction to Augmented Reality in Marketing
The use of Augmented Reality (AR) in marketing is becoming increasingly popular, with a recent report by Deloitte Digital and Snap Inc. highlighting its potential to create personalized and fascinating experiences for consumers. The report, which covers 15 markets including India, Australia, Canada, and the United States, provides insights into how brands can leverage AR to drive conversions and revenue.
Key Findings: Snap Consumer AR India Report 2021
The report reveals that AR adoption is on the rise, with 40% of Gen Z and millennial population in India expected to be frequent AR users by 2025. While 73% of individuals can discover AR once they see it, they struggle to define or describe it. The majority of Snapchatters in India use AR to rejoice, with 64% of users discovering AR through social and communication apps.
Practical Applications of AR
Despite being seen as a "toy", 81% of individuals expect to make use of AR as a practical "tool" of their on a regular basis lives. Interacting with products which have AR experiences results in a 94% higher conversion rate, making it a gorgeous option for brands. Additionally, brands with branded AR experiences are 41% more more likely to be considered by consumers.
Global AR Trends
The COVID-19 pandemic has accelerated AR adoption, with worldwide spend on AR/VR expected to succeed in $72.8 billion in 2024. Over half of consumers imagine that COVID-19 has made AR digital experiences more necessary, and 59% say it has made AR tech innovations more necessary. By 2025, nearly 75% of the worldwide population and just about all individuals who use social/communication apps shall be frequent AR users.
Consumer Behavior and AR
AR-related patents within the US have grown greater than 3x over the past 10 years, indicating a big increase in innovation and investment in the sector. Consumers are willing to pay more for products that promise total transparency through AR, with nearly 3 in 4 respondents willing to pay a premium. Currently, 67% of respondents use AR primarily at home for functions comparable to communication, gaming, media and entertainment, and shopping.
Future of AR
Looking ahead, 74% of consumers globally imagine that AR shall be much more necessary of their lives in the subsequent 5 years. They plan to make use of AR more in key growth areas comparable to media, shopping, gaming, and communications. As AR technology continues to evolve, it’s more likely to play an increasingly necessary role in marketing and consumer behavior.
Conclusion
The use of AR in marketing is a rapidly growing trend, with significant potential for driving conversions and revenue. As consumers grow to be more conversant in AR, they expect more practical and transparent experiences from brands. With its ability to create personalized and fascinating experiences, AR is more likely to play a significant role in the long run of selling, and types that spend money on AR technology are more likely to see significant returns.
