Introduction to Virtual Reality in Home Improvement
Lowe’s, a number one home improvement retailer, is testing augmented reality (AR) and virtual reality (VR) tools to assist customers visualize and experience large home improvement products within the context of their very own living spaces. The goal is to extend customer confidence of their purchasing decisions. According to Josh Shabtai, Lowe’s director of lab productions, the corporate is concentrated on solving age-old customer problems which have not been addressed yet.
The Role of Lowe’s Innovation Labs
Lowe’s Innovation Labs, established 4 years ago, is chargeable for exploring recent technologies and solutions to enhance the client experience. With offices in Kirkland, Washington, Mooresville, North Carolina, and Bangalore, India, the lab works with startups to develop and test recent technologies. The lab has rolled out several pilot projects, including Holoroom How-To, Holoroom Test Drive, and "View in Your Space," a mobile app feature that enables customers to visualise how a bit of furniture will fit of their living space.
Pilot Projects and Results
Two of the pilot projects, Holoroom Test Drive and the AR feature, are currently still in market. Holoroom Test Drive uses VR to present customers a way of what it’s prefer to hold and use an influence tool, while the AR feature allows customers to visualise how a bit of furniture will fit of their living space. Early results show that VR and AR tools offer two key use cases: helping customers navigate how they’ll use tools or whether products are physically compatible with their homes, and helping employees learn more quickly to supply more personalized expertise.
Benefits of VR and AR Training
According to company data, employees who’re trained on machinery using VR are 76% more prone to check out a bit of machinery in comparison with those that were trained using conventional methods. Additionally, customers have 42% greater recall with VR tools in comparison with YouTube how-to videos. This suggests that VR and AR training could be an efficient approach to improve worker knowledge and customer engagement.
Challenges and Opportunities
One of the largest challenges to mainstream adoption of VR and AR is cost. However, AR could be more quickly deployed given the ubiquity of smartphones which are already equipped with enabling technology. Retailers can use VR and AR to tie customers closer to their brand and create a more immersive experience. This could be particularly effective for legacy retailers who’re competing with online retailers like Amazon.
Combating Competition from Amazon
Amazon’s convenience and selection could be a major challenge for retailers. However, by utilizing VR and AR to create a more immersive experience, retailers can combat this competition. According to Jim Cusson, president of retail marketing agency Theory House, "Numerous this has to do with the experience and brand engagement [derived from immersive tools like VR and AR]." Morningstar analyst Jaime Katz notes that Lowe’s business model is built on customer support, knowledge, and innovation, and using VR and AR could help augment its reach.
Focus on DIY Shoppers
While there’s a risk that customers may preview items in VR and AR after which buy them on Amazon, retailers like Lowe’s can deal with DIY shoppers who’re motivated by the pride they derive from carrying out hands-on home improvement projects. These customers should not necessarily motivated by price, and AR can assist augment their imaginations.
Conclusion
Lowe’s use of VR and AR is an example of how retailers can use technology to enhance the client experience and create a more immersive experience. While there are challenges to mainstream adoption, the advantages of VR and AR training and the chance to create a more engaging experience make it an area price exploring. As retailers proceed to compete with online retailers like Amazon, using VR and AR to create a more immersive experience could be a key differentiator.
