Imagine this – the season of festivities is here, and you are all set to visit your jewellery store to buy that coveted neckpiece or bangle you have been waiting to buy. Now imagine trying that same piece of jewellery within the comfort of your home at just the click of a mouse.
The virtual try-on technology or VTO incorporates imaging technology such as 3D mapping and colour matching to create a visual version of the product. The sophisticated technology gives an accurate portrayal of how the product will look in real life. It is a try-on app that comes with the convenience of e-commerce shopping allowing brands to showcase their product offerings more effectively. An innovative way for shoppers to virtually try out or visualise anything – that gorgeous designer garment, favourite watch or piece of accessory, jewellery, makeup or choice of shoes – with a single click.
If you’re wondering how big is the AR and VR market? The virtual try-ons are not just limited to international markets. Indian companies, too, are all set to use the power of these immersive technologies to enhance customer experience and drive innovation. With this, the Indian market is also witnessing a rise in demand for AR and VR technology. As per Statista, the AR and VR market in India is expected to reach a revenue of INR 6,635.49 crore ($789.0 million) in 2024 and experience an annual growth rate (CAGR 2024-2029) of 9.74%, resulting in a market volume of INR 10,562.96 crore ($1256.0 million) by 2029.
The Adoption of AR and VR Experience
With the demand for immersive customer experience, VTO apps with AR-enhanced experiences are becoming a great market segregator and luxury fashion brands are leveraging on this demand. Almost 72% luxury fashion consumers in UK consider it important for brands to provide AR solutions to customers during their shopping experience.
Many luxury brands have initiated the use of virtual try-ons to let their customers virtually try out products before making the choice. Yuvraj Shidaye, Director, Treat Binary Technologies, affirmed in an interaction that brands such as Chanel, Louis Vuitton and Prada have adopted the use of virtual try-ons to enhance the customer experience. Burberry has added AR to its website for the ease of virtual try-ons for customers. Its advertising campaign includes the use of tech AR. Chanel delivers a highly realistic shopping experience with virtual try-on capabilities that replicate the textures, colours, and shapes of the products thereby giving accurate representations. Louis Vuitton enables its customers to try out its products such as eyewear, jewellery, and accessories with customisation, thereby making them adjust the product size, colour and position on them. Prada’s virtual try-on feature uses advanced graphic-rendering technology that imitates the texture, colour and appearance of the product. It measures the customers’ facial features and body dimensions to enable the virtual product to be displayed correctly. Fendi has created virtual dressing rooms that function like video calling apps. These high quality cameras show the correct colours and styles and also enable a dialogue between the buyer and the sales person, thereby enhancing the experience.
Redefining the Art of Experience
Virtual try-ons lend immense value to luxury shopping experience. As per a study, a survey was conducted in the UK on 1,100 luxury consumers in 2023 wherein participants were asked to choose from a wishlist of AR experiences offered by fashion brands. Interestingly, styling and wardrobe consultations topped the list.
Top luxury brands are hence seen embracing the power of virtual try-ons. Dior is on the way to creating a lookbook of virtual products that will enable its buyers to try on the looks with the AR technology before making the purchase. The products can be viewed by buyers on the Snapchat filter. Gucci is expanding its power of AR technology by including virtual try-ons for clothes, accessories and shows through their website or app. Cartier offers an AR time-travel experience that takes its buyers back to 1917 when the Tank watch was first released in Paris. De Beers uses AR technology for its Forevermark diamond brand where visitors can virtually try out the rings, bracelets, neckpieces to see how the jewellery looks in 3D format. Louis Vuitton is also exploring VR experiences to transcend their customers on a virtual journey. Macan allows its customers to examine its features and interact with the help of advanced headsets. Porsche uses the innovative mixed-reality technology method for product demonstration, letting its customers virtually experience the vehicle as done in a physical showroom.
According to McKinsey & Company Report 2022, there is a need to create deeper connections with consumers to use the power of digital mediums, and AR and VR technology has augmented in the luxury sector. A few case studies to illustrate the point. Virtual fashion shows initiated by Louis Vuitton in 2020 gave their customers the VR experience of being seated on the front row right in the comfort of their homes, yet view every detail of the garments. The Gucci Garden Experience, an initiative launched on the robotic gaming platform in 2021, created a space for users to explore and buy digital items. This has established Gucci’s power to innovate and adapt to new trends and gave it an edge to attract younger audience. Automobile giant BMW used the power of virtual reality to create realistic stimulations for the potential buyers to test drive the vehicle and experience its features and performance.
The Market for VR in Luxury Shopping
Regardless of its potential, the virtual try-on technology faces challenges. In spite of the advancement, technical glitches affect the use of these try-ons. For instance, low resolution images can break the illusion of reality which is important for detailed examination of the product. High latency can cause disorientation thereby leading to problems in unified interaction. Other limitations such as support for high processing capabilities and high-end graphics are also lacking with consumers.
Currently, the market for such experiences is not big as not many shoppers are familiar with its uses. They are sceptical about the use and prefer the traditional mode of shopping over this. Besides, a lot of awareness needs to be created for consumers to understand the technology and its advantages. Overall, a wider market penetration is needed to showcase concrete benefits for virtual try-ons to surpass the traditional ways of shopping.
On a positive note, living in an era where technology is constantly evolving, the future of virtual try-ons looks bright. With boosting conversion rates and increased revenues, luxury brands will be fast moving towards the revolutionising experience.
This post was last modified on November 19, 2024 3:03 pm