May 25, 2022
| 8 min read
In recent times, new approaches and strategies have become essential for the survival of businesses. The notion of new-normal has led to heavy reliance on immersive technologies like AR & VR, as it provides an interactive and engaging experience to the shoppers.
The interest in immersive technologies has soared as brands have started to understand the importance of integrating them in the digital strategy. Staying connected with customers amidst the pandemic is a struggle, and AR helps solve that. It allows brands to provide better customer experiences with higher conversion rates. Recently, Shopify added new statistics showing that products having an AR integration showed a 94% higher conversion rate than the others.
One of the reports by Retail Perceptions on “The Impact of AR on Retail” has shown that most buyers would like to use technologies like AR to make the right purchase decision. Allowing customers to preview and virtually try-on the products on the website has proved to be an excellent use of AR in retail. Augmented reality offers shoppers the confidence to make the right purchase. Often online buyers have the uncertainty of not being able to visualise the product on themselves. This usually leads to abandoned shopping carts. Using AR allows the Jewelry brand to provide a sensory experience to their customers. Anyone with a smartphone or a laptop can indulge in virtual Jewelry try-on and see how the Jewelry would look on them. With E-commerce taking over and consumers spending much more time shopping online, augmented reality is definitely worth the investment.
The Jewelry industry has always relied on offline interaction to facilitate sales. However, the market situations in the last year have accelerated the urgency for businesses in every industry to go digital. The Jewelry Industry is no different! AR has created a successful virtual shopping space with the “Try-before-you-buy” feature. It has reshaped the traditional Jewelry Industry to be more fascinating for the new-gen buyers. Through AR-powered virtual try-on, customers can engage with the brand and its products in a hassle-free and convenient way, leading to better customer engagement and higher sales. Jewelry brands also get access to various data insights when they integrate AR into their website. They can then use it to track the performance of their products and perform an in-depth customer analysis to serve their customers better.
Exclusive brands like Tanishq, De Beers, Kalyan jewelers, Hazoorilal Legacy jewelers, Tacori, and Boucheron have already integrated the VTO technology into their respective business models and are experiencing an instant increase in online traffic and transactions leading to increased sales. Furthermore, integrating this technology has helped their customers gain confidence in their purchase decisions which leads to lower return rates, better engagement, and much more!
Tanishq was one of the first few brands in India to provide their customers with an augmented reality-powered Jewelry try-on experience by integrating mirrAR. Our AR-powered tech platform provides customers with a personalised experience through which they can virtually try on the Jewelry in real-time with the ‘Try Now’ feature on the brand’s website.
As a Jewelry brand operating in the current market scenario, one needs to be proactive in adopting new technological advancements and integrating them seamlessly to provide a better customer experience and better insights for the brand itself. Brands must understand that customers now desire convenient, contactless & unique shopping experiences. The current pandemic has acted as a catalyst for this digital transformation. It is the perfect opportunity for traditional jewelers to integrate immersive technologies like mirrAR and introduce a trustworthy, seamless, and user-friendly experience for their customers.
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