AA Credit Union

Winter 2018

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The accessories Last fall, Lowe's Companies, Inc., launched two new iPhone apps: Measured works as an AR ruler to digitally measure and record the height of anything — from your kitchen countertop to a vanity that you're looking at in your local Lowe's store. The Lowe's Envisioned by The Mine app allows you to "place" digital images of furnishings from The Mine (a Lowe's company) into a photo of your real-life residential space — at scale. From "smart" fi tting rooms that suggest accessories based on garments you've selected to apps that virtually place a sofa in your den, high-tech aides are helping shoppers try before they buy. Some retailers even off er customers help through augmented and virtual reality — lingo that even the savviest shoppers might have to learn. The basics Augmented reality (AR) overlays digital images of products into the buyer's real world or onto real photos, while virtual reality (VR) features total immersion into a digitized space and may require a VR headset. Both technologies promise to ease buyer's remorse, as browsers in-store or online (with a smartphone app or a VR device) become more confi dent about what to purchase. Shoppers can project what an athletic shoe looks like on their foot, measure if a chandelier will fi t their foyer or see how lipstick shade looks on them by using a smartphone app. "Particularly cool and innovative experiences are often shared by consumers on social media, so the retailer gains not only a customer but some PR and social buzz, as well," says Jill Dvorak, senior director for digital retail at the National Retail Federation (NRF). In a recent NRF survey, 48 percent of merchants said they had increased their technology budgets in 2016 compared with the previous year — all trying to capitalize on new, high-tech shopping wizardry. 14 | WINTER 2018

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