Imagine you walk into a furniture store looking for a new sofa. Are you curious what it will look like in your living room? No problem! With spatial computing, you can use an AR app on your smartphone or a store-provided device.
Just point your device toward an empty space in their living room, and the AR app overlays virtual images of different sofas in real time. You can visually assess how each sofa looks and fits within its specific space, virtually adjusting the color and size. Cool, right?
This way, the chances that you will return the product are much lower, and your customer experience is really better than a few years ago. It, indeed, results in boosting the profitability of the retail company and fundamentally transforming the way businesses engage with consumers, both online and in physical stores. In the article below, we are going to discuss various ways spatial computing revolutionizes the retail industry, from augmented reality product trials to virtual store layouts; keep reading to find out more.
What is spatial computing?
Contents
Spatial computing is a transformative concept involving interactions between computers and the physical environment. It encompasses technologies like augmented reality (AR) and virtual reality (VR), allowing users to interact with digital content in real-world spaces.
As an illustration, AR allows retailers to craft immersive product demonstrations within physical stores, enabling customers to engage with products more captivatingly. This technology uses computer vision to identify customer faces, facilitating personalized recommendations. On the other hand, VR offers the potential to establish virtual showrooms, granting customers the ability to shop from any location.
Its impact extends across various industries, such as healthcare, education, tourism, entertainment, and many others. Spatial computing revolutionizes business operations and the way we perceive and engage with information. One notable sector embracing this innovation could be the retail industry. The integration of spatial computing technologies in the retail industry could significantly improve customer experiences, resulting in a myriad of benefits. Without further ado, let’s dive into these benefits.
Benefits of spatial computing in the retail industry
Spatial computing in retail brings benefits to everyone – customers, companies (retailers), employees, manufacturers/suppliers, technology providers, logistics and supply chain operations, real estate developers, and even marketing agencies, creating a ripple effect of positive impacts across various stakeholders in the industry. Let’s check out some of the sectors where spatial computing will be the most beneficial:
Customers
- Immersive shopping experiences: AR allows interactive and immersive product trials. Virtual showrooms will provide a dynamic and engaging shopping environment, resulting in customer satisfaction.
- Personalized interactions: Computer vision recognizes customer faces for customized recommendations and tailored experiences, again improving customer satisfaction and loyalty.
- Convenient decision-making process: Virtual try-ons and product visualizations will significantly help customers make informed decisions. This will eliminate the guesswork associated with online and offline purchases.
- Vast product information: Thanks to spatial computing capabilities, a customer will have access to detailed product information, including materials, dimensions, and customer reviews.
- Anywhere, anytime shopping: We’re all familiar with the convenience of online shopping, but the hesitation of buying something sight unseen still lingers. Well, fret not! The era of purchasing a cat in the sack is officially over! Now, spatial computing will help customers to try and buy items virtually from any location.
- Reduced likelihood of returns: Did you buy a sofa and it didn’t fit? No problem! Visualization of furniture and products in customers’ homes before purchase is available now. It brings a better understanding of how items fit into their living spaces and minimizes return rates.
- Entertaining and memorable purchases: Spatial computing definitely creates a fun and memorable shopping journey through interactive features. It encourages repeat visits and positive word-of-mouth recommendations.
Companies and Retailers
It is worth noting that all the benefits experienced by customers translate directly into advantages for the company. Customer satisfaction, facilitated by all the benefits above, serves as a catalyst for increased sales. Ultimately, the positive impact on the customer directly contributes to the overall success and profitability of the company.
- Increased sales: Considering that spatial computing facilitates personalized recommendations, it increases the likelihood of cross-selling and upselling. Virtual showrooms provide additional sales channels, expanding reach.
- Improved customer engagement: Interactive features such as AR product trials and virtual showrooms boost customer engagement. Increased interaction leads to a more memorable and positive brand perception, resulting in more sales.
- Streamlined operations: Tools for inventory management and virtual store planning contribute to streamlined operations, and efficiency improvements lead to cost savings and a more agile retail environment.
Behind the retail curtain
While we often focus on the tangible aspects of retail, such as sales and customer experience, it’s crucial to recognize the intricate work transpiring behind the scenes. The realms of manufacturers, suppliers, and the logistics and supply chain play a pivotal role, shaping the foundation that supports every retail transaction. Let’s see what benefits they have from implementing a technology like spatial computing.
Manufacturers/suppliers
Spatial computing significantly benefits manufacturers and suppliers, improving various aspects of their operations. One key advantage is the ability to achieve better product visualization through virtual and augmented reality, allowing manufacturers to showcase their products with unparalleled detail and impact. This attracts more attention and contributes to increased visibility and demand for manufacturers’ and suppliers’ products, fostering potential business growth.
Moreover, spatial computing allows manufacturers to create customized virtual showcases tailored to their unique manufacturing processes. This serves as an immersive experience for potential clients and partners and educates them about the intricacies of the manufacturing journey.
For suppliers, spatial computing opens up opportunities for interactive presentations to retailers and partners, creating engaging experiences that effectively communicate the value and features of their products. The global accessibility provided by virtual showrooms and spatial computing technologies eliminates geographical barriers, allowing manufacturers to reach a broader audience.
Finally, spatial computing facilitates collaborative design and planning between manufacturers, retailers, and partners through virtual environments. This innovation improves communication and coordination within the supply chain, fostering a more efficient and streamlined collaboration process.
Logistics&supply chain
With real-time monitoring capabilities, spatial computing optimizes inventory management by providing accurate insights into inventory levels and warehouse space usage, minimizing the risks of overstocking or stockouts.
Besides, spatial computing facilitates virtual simulations of warehouse layouts, enabling meticulous planning of the arrangement of goods, storage systems, and workflow. This results in a more efficient and streamlined warehouse layout, contributing to overall operational efficiency in the logistics and supply chain processes.
Real estate
Spatial computing will also revolutionize the real estate industry, expediting deal processes and improving overall comfort. This transformative tool promises a win-win scenario for both customers and real estate companies by streamlining transactions and providing an elevated user experience.
- Remote property showcasing: Imagine you don’t need to go physically anywhere to showcase the apartment. It is possible with spatial computing as it enables the creation of virtual showrooms and augmented reality applications for property viewing. Real estate developers could showcase properties in immersive and interactive ways, offering a more engaging experience for potential buyers and tenants.
- Improved visualization: Virtual showrooms allow users to explore properties in three dimensions, providing a realistic and detailed visualization. Augmented reality applications enhance physical property viewing by overlaying digital information, such as floor plans and property details.
- Reduced time on the market: The immersive and interactive nature of spatial computing can attract more attention to the listed properties. Properties showcased using these technologies may spend less time on the market, leading to quicker sales or rentals.
- Global Reach: Virtual showrooms and augmented reality applications expand the reach of real estate developers beyond local markets. Attracts a broader audience of potential buyers and tenants from different geographical locations.
- Cost-effective property presentations: Spatial computing reduces the need for physical staging and elaborate presentations. Real estate developers can present properties cost-effectively in virtual environments, saving resources and time.
Bottom Line
Anticipated by both customers and companies alike, spatial computing is expected to revolutionize the retail industry, promising a transformative experience for all stakeholders. For customers, it heralds an era of immersive interactions, virtual product trials, and innovative marketing strategies that enhance the overall shopping experience. Meanwhile, companies stand to benefit from improved customer interactions, operational efficiency, and a competitive advantage in the market. The convergence of spatial computing and retail holds the potential for a future where satisfaction and success intersect, reshaping the industry landscape for the better. Let’s head to 2024 to embrace a new era.
So, the implementation of spatial computing not only improves the customer experience but also reduces the likelihood of returns, as customers better understand how the furniture will fit into their home before making a purchase. How else can spatial computing revolutionize the retail industry? From augmented reality product trials to virtual store layouts, keep reading to find out more.