How is Augmented Reality Affecting the Global Economy?

What is Augmented Reality?

Augmented reality (AR) is a digitally augmented representation of the real physical setting created by the use of digital visual components, sound, or other sensory stimulation given through technology. It is a developing trend among organizations active in a large number of industries.

One of the key aims of augmented reality, in the midst of the development of data collecting and analysis, is to emphasize certain elements of the physical environment, raise knowledge of those qualities, and extract clever and accessible information that can be used in the real-world applications. Big data may help organizations make better decisions and acquire insight into customer purchasing habits, among other things.

What is Virtual Reality

The use of computer modeling and simulation to enable a human to engage with an artificial 3D visual or other sensory world is known as Virtual Reality. VR applications immerse the user in a computer-generated setting that replicates reality via interactive devices such as goggles, headsets, gloves, or suits that send and receive information. A user wearing headgear with a stereoscopic screen displays animated pictures of a simulated world in a standard VR style. Motion sensors take up the user’s motions and modify the display on the screen appropriately, in real-time, to provide the “presence” sensation.

What is Extended Reality?

The umbrella that covers Augmented Reality, Virtual Reality, Mixed Reality, and everything in between is referred to as Extended Reality. It alters human-machine screen interaction by immersing users in a virtual environment, augmenting their surroundings, or doing both simultaneously.

Benefits of Augmented Reality

In a digital time as such, we are now spending more time staring at various-sized screens. Our worlds have grown strongly intertwined with digital encounters that we have been conditioned to classify a brand’s authority based on its capacity of delivering digital experiences. As a result, marketers have been employing and benefiting from augmented reality tactics, combining both digital and physical realms. This method helps in attracting attention, standing out among competitors, and providing customers with an enhanced purchasing experience.

Augmented Reality and the Global Economy

Marketing experts are not only making the life of online buyers easier and more profitable for organizations but are exploiting augmented reality technologies to contribute big time to the growth of the global economy. In terms of maintenance, design, and training, the usage of AR in business continues to grow. These immersive technological developments are also being adopted to make a difference in healthcare, education, and the arts.

To put things into perspective, PwC mentions that in 2018, worldwide healthcare spending was estimated to be approximately $7.7 trillion. If augmented reality could boost productivity and save expenses by only 0.5 percent, doctors will be able to identify patients more quickly and guarantee successful surgical operations. That would already have a direct effect on the global economy of $385 billion.

Similarly, adopting augmented reality in development and training will enhance global GDP by $294.2 billion by 2030. One way this will be feasible is by providing a mechanism to teach workers in situations where it is not always viable or safe to do so in the real world. It will also save organizations time and money by digitally reproducing actual surroundings and scenarios, which can then be accessed anywhere in the globe and on various scales, at the same time. That said, the constant theory about machines replacing humans in the workplace is refuted. In fact, there will be a constant collaboration between augmented reality technologies and human efforts in the physical to move the growth of the global economy and other aspects as well.

Augmented reality is changing everything from the way the world is moving forward, to the global economical, societal, industrial, and countless other sectors’ growth. Talking numbers, it is believed that this technology is set to boost the global GDP by around $1.5 trillion by 2030 after contributing to it by only $46.6 billion in 2019. Following a number of AR and VR trends is today more than ever, enabling marketers to take part in this huge phenomenon that is shifting the world to an even more digital one.

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4 Ways Augmented Reality is Promoting Sustainability

Online shoppers, especially Gen Z and Millenials, are now more than ever vocal about the importance of sustainability. Around 85% of this population considers that it is extremely important for companies to adopt eco-friendly strategies. With more awareness being raised about it, consumers’ decision-making process is not solely affected by the efficacy of the product anymore. It is also about the community’s and the planet’s needs.

To satisfy the new norm of consumerism, businesses have turned to ecological practices and digital marketing solutions. Brands across sectors are making significant improvements for the welfare of everybody, from ethical sourcing and fair employment to eliminating waste and boosting recycling. Numerous found that applying Augmented Reality to their business plan was suitable to reduce the harm they might produce to the environment and promote sustainability. 
Sustainability in augmented reality

Reducing Emissions from Transportation

Every year, transportation contributes around 20% to greenhouse emissions on a global scale. This plays a direct role in catalyzing the climate change process which has drastic consequences on the planet and humanity’s existence. By using AR technology, users are not required to be physically present in-store anymore when purchasing products. Whether they are looking for furniture, kitchen appliances, beauty products, eyewear and footwear items, or any other option, online shoppers can now make use of Spatial Augmented Reality in a variety of ways. Brands are making it easier for users to visualize in 3D the exact size and fit of their prospects’ desired items so they could immerse themselves in exceptional experiences, all while supporting the environment’s sustainability. In that case, companies are not only engaging customers with their products but are also ensuring their return rates are reduced by over 25%.

Building Sustainable Smart Cities

With people increasingly sensing the climate change’s heat, smart cities attempt to include climate-resilient infrastructure by embedding digital add-ons that boost convenience and help in governance. Within smart cities, AR may give ongoing feedback, allowing everyone to make important and informed decisions in their daily lives to preserve sustainability. In other words, urban settings will become more people-centered. As a result, transportation, public safety and health, tourism, and asset management may all benefit from it.

Sustainability in Developing Infrastructure

In the construction sector, Augmented Reality has also been gaining traction. This technology, when used effectively, may help companies win more deals, interact with team members, train and increase the safety of workers, and, ultimately, assure a sustainable environment. To successfully achieve infrastructure sustainability, governing bodies have a vital role in creating supportive and clear policy and regulatory frameworks, publishing, communicating, and analyzing data, and finally mobilizing finance by putting a price on carbon and developing tax incentives.

Monitoring Waste Management

Augmented Reality allowed consumers to look beyond items, giving them more information about these products and brand identification. This technology enabled a more tailored buying experience, blurring the lines between e-commerce and traditional retail. One example that helped tremendously in reducing waste materials is QR codes, which came back to life big time due to the pandemic after seeming like a dying fad for a while. When adopting this automation, the packaging is turned digital instead of having raw, non-recyclable, and mostly non-degradable material.

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Designhubz: who are we and what do we do?

At Designhubz, our vision is to create an  Ecosystem     where the digital and physical realms merge into endless possibilities We entered the business to solve an alarming problem in the online Retail and eCommerce industry which is to enable online shoppers to Virtually Try Before they  Buy. Designhubz empowers eCommerce & Non-Fungible Tokens (NFTs) shopping with 3D & Try-On AR technologies. Working with companies like IKEA, TATA Group, Samsung, Falabella, and others, Designhubz has demonstrated its capacity to assist businesses to achieve exponential growth in sales, and customer loyalty, and a drastic decrease in returned products.

Spatial 3D and Augmented Reality

Shopping is no longer the same as searching for products on the internet. We provide companies with an immersive Spatial 3D and AR experience that allows customers to visualize products like furniture, appliances, home decor, and others, in their own environment. These items may be viewed via any browser or device, and they have the same exact fit and size as they do in the real world. This solution is ideal for removing shopper’s concerns about online purchases or providing them with an interactive and entertaining buying experience. Up until now, this solution has been put to work on furniture and home products, kitchen, home, and bath equipment, clothes, collectibles, and toys.

Try-on Shoes Augmented Reality:

Are you a footwear company? This try-on shoes AR is designed to draw your attention, as well as the attention of your consumers. The try-before-you-buy shopping experience is advantageous to every element of your organization, including increased conversions, improved customer service, and reinforced loyalty and credibility. When customers can see how an item will appear on them, they are more inclined to trust your brand. Furthermore, due to its superior texturing, real-time shadows, and light adaptability, our try-on shoes augmented reality is highly realistic and accurate.

Try-on Eyewear Augmented Reality:

Why buy offline when you can bring the actual world into the comfort of your consumers’ homes via any browser or device? Your eCommerce visitors will be astonished by the fascinating realistic frame visualization that fits and tracks every aspect of their faces with our eyewear AR solution. Not only that but our AI engine is programmed to provide suggestions for designs and sizes to potential customers. When statistics show that companies who use augmented reality in their shopping experience witness conversion rates improvement by 40%, you can rest assured that the try-on eyewear solution is critical to your company’s success.

Try-on Makeup Augmented Reality

Which shade of shadow is best for my eyes? Does the hue of this foundation compliment my skin tone? Visitors may be hesitant to purchase beauty goods online due to these and other issues. With our try-on cosmetics augmented reality solution, that’s no longer the case. Regardless of the beauty item that visitors are interested in, allowing them to virtually sample your items breaks down boundaries between you as a company and your prospects. This purchasing experience will surely set your business apart from the competition and make it unforgettable.

Now that you’ve established that, are you ready to take your company to the next level by revolutionizing your online purchasing experience? Book a demo with our team of professionals today to see how we can help you grow your business.
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3D Product Digitization For Your E-Commerce

New technology means finding new ways for brands to interact with your customers. And this is where 3D product digitization comes in! The next generation of online shopping is spearheaded by retailers that offer 3D models of their products. As per Shopify, brands worldwide have found that “products advertised with VR/AR content saw 94% higher conversion rate” than products presented the traditional 2D way.

To make sense of all this tech vocabulary, we’ve written this blog post to go over all the aspects of 3D product digitization, and to explain how Designhubz can assist your online business on the road to success!

What does product digitization mean?

Creating a digital representation of a physical object. The level of details can vary based on use case:
Case #1: Visual: Creating a digital twin that looks like its physical counterpart.
Case #2: Visual + semantics: The digital twin would have an additional layer explaining its different components.
Case #3: Visual + semantics + mechanical rig: In this scenario, the shopper would understand how components move or behave.

2. How does it work?

At Designhubz, we use 3 methods to digitize your products. We pick the suitable method on a case-by-case basis: 
1. We use existing 3D models from our partners and we simply integrate them: On Designhubz XR, you can easily upload these existing 3D files from AutoCad, Rhino, SolidWorks, Blender, Fusion360, DraftSight, Clo, Optitext, Solid Edge or any other 3D design platform and our smart optimisation algorithm reduces the file size by 60-90%, without any distortion or reduction in quality- making them usable. Once optimized, your files are converted into all compatible file formats so that you can use them across any platform on the web.
2. Share with us a few product images with the items’ dimensions, and voila! Your product is live on your platform!
3. Enter our very own automated digitization rig service! You won’t need to hire 3D experts and AR developers, or even buy 3D scanners and photography equipment to digitize your product inventory. Instead, our digitization rig takes care of business. It will scan your physical products across 360 degrees, and instantly create their accurate 3D & AR versions. Once scanned, these assets automatically get uploaded into your XR CMS account for you to manage, embed, publish and distribute across your website, app, social media and marketing campaigns.
Now let’s get a bit technical and explain what we do backstage: We create efficient 3D surfaces with AI assisted tools, QA material aspects (metal, glass, plastic, wood, etc.) “in context”. Afterwards we assimilate the product’s parts or functions, and push it to the partner’s account for feedback, or in best case scenarios we directly go live. This applies on both method 2 and 3.

How can it help your ecommerce?

First of all, it empowers websites and mobile apps with virtual try-ons, and enables the try-before-you-buy experience. Secondly, our solution is cross-platform, which means it works across all browsers, operating systems and devices. And finally, 3D product models will definitely boost your numbers. We have found that an AR shopping experience generates a 58% increase in conversion, and a 47% boost in revenue. One of the most important aspects are return rates cut by half as 3D and AR enabled products reduce the possibilities of mismatch, wrong size or color.
If you want to find out more about our product, and have an in-depth look into the technology, check our How It Works page. If you’re excited to try out our solutions for your business, ​Book a Demoand we’ll happily guide you through it!
Photo credit: UNIBOA on Unsplash.
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Smart retail in smart city concept illustration.

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Augmented Reality is the Future of Ecommerce and Online Retail- Here’s Why

It’s a well-known fact that technology and changing consumer demands have been the two key forces driving the evolution of ecommerce and online retail. From delivering omni-channel experiences supported by on-demand deliveries and superior logistics to leveraging behaviour analytics and delivering better, more personalised consumer experiences.

Currently, one such technology is standing at the precipice of yet another transformation. It’s none other than augmented reality, popular known as AR. In fact, the rapid adoption and standout results achieved by augmented reality commerce has grown so much that 75% consumers expect brands and retailers to offer AR-enabled experiences.

4 Reasons Why AR Is The Future Of Online Commerce

In many ways, augmented reality is tailor-made for the world of ecommerce and online retail. Essentially, augmented reality enables online shoppers to virtually try-on products on themselves or place them in their own space- with their smartphones and tablets.

As a result, countless brands like IKEA, Target, Gucci, Burberry, Nike, Converse, Sephora, Warby Parker and more have rolled out highly realistic and accurate AR shopping experiences, primarily because:

– These try-before-you-buy experiences remove purchase indecisions and boosts buying confidence which leads to increased conversions

– They also reduces returns as consumers are more likely to buy the right product when they can check size, fit, texture by trying it themselves- like they would do in a physical store

– Not to mention, augmented reality makes online shopping interactive and engaging, unlike static product images and videos

It’s fair to say that up until now, there’s never been one technology that single-handedly offers these many benefits. So without further ado, let’s dive into exactly why augmented reality is transforming online retail and commerce:

1. Easy Virtual Try-Ons

Perfect for: apparel, shoes, makeup, eyewear, hats and accessories

Up until now, shopping online meant going through countless product images or videos, checking the size guide, in most cases ordering two different sizes and returning one (or both) if it doesnt match fit or style expectations. This has been one of the biggest challenge for brands and retailers to overcome as they strive to not only reduce returns but remove purchase indecisions.

footwear-virtual-try-on

The new way: With AR enabled virtual try-ons, consumers can now try out products on themselves. So for instance, they could see how a shoe looks and fits their feet or how a shade of lipstick or sunglasses looks on their face. This naturally removes purchase hesitations as customers no longer need to second guess how something would look on them.

Here at Designhubz, we offer seamless digitization that enables brands and retailers to offer accurate virtual try-ons. If you’re eager to take the leap or just curious to check it out, feel free to book a demo here.

2. Seamless See-It-In-Your-Space

Perfect for: furniture, home and kitchen appliances, home decor

Another growingly popular way to leverage augmented reality is the see it in your space functionality. With this online shoppers can place products in their own home, office or any environment to gauge size, fit and style- as if it is right there with them.

It’s no secret that consumers are often hesitant to buy big products online as they would rather check it out themselves in the store- especially when it comes to furniture. And even then they need to first measure out the space they are buying for.

With AR powered see-it-in-your-space, key consumer questions like- how big is this sofa? will it fit and match my interiors? will this fridge look bulky in my kitchen?- are all answered as they can simply point their smartphones to place the product and check for themselves.

At Designhubz, we’re proud to help brands like IKEA offer this exact experience with our Spatial AR offerings. Our product suite is tailored for furniture and appliance brands to unleash this buying experience that gives shoppers the confidence to buy big and/or expensive products with ease. Learn more here.

3. Virtual store aisles

When it comes to shopping at supermarkets or retail outlets with physical aisles, there’s a sense of habit and familiarity that consumers enjoy. With virtual store aisles, the same physical experience can be replicated online. Here, online shoppers can browse through aisles virtually, check product information and add them to their cart.

4. Interactive AR marketing and brand campaigns

For the majority of retailers and brands out there, social media is a big beast to tame. With increasing competition and reducing consumer attention span, there’s no option but to be creative- especially when one is trying to generate engagement and brand reach.

Here, AR experiences have proven to be highly effective. Inherently immersive AR based campaigns have shown incredible results for brands like IKEA, Nike, Sephora, Warby Parker and more. Compared to product images and videos, by far social media users are responding extremely positively to interactive try-ons for example where they can see a product on themselves- right from their Facebook or Instagram feeds.

Bottom Line

Augmented reality has come a long way from its early days, where key brands have validated its use and consumer response. As a new and improved way for brands to reach, engage and sell to consumers, augmented reality is set to reach new heights and become an industry standard in the near future.

About Designhubz

Designhubz offers end-to-end 3D & AR solution for brands and retailers to digitize their physical inventory and deliver conversion and experience focussed Try On and Spatial AR. 

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